Ardiden shares spike 25% on exploration success at Seymour Lake
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
Ardiden (ASX: ADV) announced on Monday morning that it had achieved early success in its drilling campaign at the Seymour Lake lithium project in Ontario. The group commenced a 2000 metre drilling campaign in October with a view to establishing a maiden JORC 2012 mineral resource.
This is a potentially market moving event which is expected to occur in the second quarter of 2017. Today’s results demonstrate that Seymour Lake has the potential to be the source of a significant resource with numerous shallow spodumene bearing pegmatites logged in drilling core from 15 completed diamond drill holes with mineralised zones up to 22.5 metres wide.
This news has sparked substantial interest in the stock with its shares increasing from Friday’s close of 2.4 cents to a high of 3.0 cents in morning trading, representing an increase of 25%.
Adding further optimism is the fact that mineralisation at the prospect remains open to the North and West. With 198 drill core samples now pending analysis there is the prospect of further positive news flow in coming weeks.
New claims approved at Seymour Lake
Adding further flavour to the story is the fact that new claims at Seymour Lake which host multiple pegmatite exposures have been approved by the Ontario Ministry of Northern Development and Mines (MNDM).
The project now covers a total area of more than 7000 hectares and the pegmatite exposures have been extended over a 5 kilometre strike length to the South. The new claims will allow ADV to progress future mapping and exploration programs.
Remember, however, that ADV is in its early stages of exploration and investors should therefore seek professional financial advice if considering this stock for their portfolio.
These lie to the east side of the project where there is also the possibility of discovering base metals. Historically, copper mineralisation was identified within the southern portion of the new claim area.
The following shows the Seymour Lake project including new pegmatite exposures, faults and dykes and the newly staked claim areas.
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.