Ardiden expands Canadian lithium portfolio with auction agreement
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Lithium and graphite explorer Ardiden (ASX:ADV) has increased its leverage to lithium after entering into an option agreement to acquire 100% of the Wisa Lake lithium project in Ontario, Canada.
The project is located 80 kilometres east of the border town of Fort Francis, only 8 kilometres north of the Minnesota US border. The other Canadian based assets in ADV’s portfolio are Seymour Lake, Root Lake and Root Bay.
The map below provides an indication of the proximity of the projects.
In 1958, Lexindin Gold Mines reported a historical resource of 330,000 tonnes of lithium dioxide grading 1.15% from a zone representing less than 5% of the Wisa Lake area. While the resource estimate is not significant in terms of accurately valuing the asset given that it is not JORC 2012 compliant, it could be argued that it is still relevant in terms of demonstrating the presence of lithium related mineralisation in the area tested.
Mapping and sampling program demonstrates impressive widths and strike length
More recently a mapping and sampling field program was conducted by Alset Energy Corporation, which obtained spodumene samples from various pegmatite exposures with grades up to 6.38% lithium dioxide reported.
The Wisa Lake project has several spodumene bearing pegmatite dykes, and the main pegmatite has recently been traced at surface for a strike length of 1.5 kilometres with widths up to 20 metres.
However, potential investors should note that ADV is an early stage exploration company and independent financial advice should be sought if considering this stock as an investment.
As indicated below, one dyke was located 100 metres south of the South Zone pegmatite and a further pegmatite exposure was mapped approximately 3 kilometres to the west of the historical deposit in the North Zone pegmatite.
In summing up these latest developments, management said, “The proposed acquisition is consistent with Ardiden’s strategy of acquiring commodity projects located in Tier-1 jurisdictions with exposure to structural and transformational change and outstanding market fundamentals such as those required to supply the rapidly growing lithium-ion battery sector”.
ADV intends to immediately commence a full review of the historical drilling, sampling and metallurgical data (if applicable) at the project and then undertake a further geological exploration, potentially including but not limited to, surface sampling soil surveys and further drilling.
Consequently, newsflow relating to this project could be expected in the first half of 2017.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
