- Arcadia Minerals (AM7) begins auger drilling on the Madube Pan within its Bitterwasser project in Namibia
- One hole has been drilled so far in this program, which has already intersected lithological units similar to those seen at the Eden Pan in the project area
- Initial observations from the hole also confirm green clay units 44 per cent thicker than the widest intercept of similar lithology at the Eden Pan
- Arcadia says it finds these early results “very encouraging” and plans to continue drilling
- AM7 shares are up 10.17 per cent and are trading at 32.5 cents at 3:17 pm AEDT
Arcadia Minerals (AM7) has begun auger drilling on the Madube Pan within its Bitterwasser lithium-in-clay project in Namibia.
The company has drilled the first of 15 planned holes in the area and has intersected lithological units similar to those drilled at the nearby Eden Pan zone.
Initial observations from the Madube Pan confirmed green clay units 44 per cent thicker than the widest intercept of similar lithology at the Eden Pan.
Arcadia CEO Philip le Roux said it was “very encouraging” to see lithology and thicknesses similar to the “lithium-enriched” Eden Pan, where an inferred resource of 286,909 tons of lithium carbonate was defined late last year.
“Should analyses confirm lithium mineralisation to a similar tenor than what we saw at the Eden Lithium Pan, we’d expect to see an increase of the current JORC resource over the Bitterwasser lithium-in-clay project,” Mr Le Roux said.
Depending on whether it intersects positive lithium mineralisation in other areas of the Madube Pan, Arcadia Minerals plans to continue drilling at other pans.
AM7 shares were up 10.17 per cent and trading at 32.5 cents at 3:17 pm AEDT.