Next Investors logo grey

Ardiden spins the drillbit in Canada

|

Published 06-NOV-2015 15:53 P.M.

|

1 minute read

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 Limited (ASX:ADV) has fired the starter’s pistol on its long-awaited graphite drilling campaign in Canada.

The ASX-listed company told the share market today that it had started a diamond core drilling program at its 100% owned Manitouwadge project in Ontario, targeting a prospective strike length of 19km.

The drilling program is going after high priority targets identified as part of a recent geophysical review, a review which in effect sent the strike length of electromagnetic anomalies to 19.3km.

It will also focus on areas where successful sampling has already taken place, with chip sampling previous confirming graphite flake size distribution of jumbo and large flake graphite of up to 80% of samples.

ADV also said that previous test work done had showed that low-cost gravity and floatation techniques can result in graphite purity levels of up to 95.6%. Meanwhile, testing using a caustic bake process produced graphite with a purity of 99.95% graphite.

The drilling is fully funded after it closed out on a share purchase plan where it managed to raise $1 million in funding, with the placement heavily oversubscribed.

Previous diamond drilling at the project identified surface graphite at depth, with grades comparable to that of other deposits in Ontario including that of TSX-listed companies such as Zenyatta Ventures and Northern Graphite, both of which have seen excellent results in preliminary economic assessments.

Manitouwadge is just 100km from Zenyatta Ventures Ltd’s Albany deposit which is also on the edge of the Quetico sub-province.

Shares in ADV are up 8.3% in intraday trading to 1.3c.

tags

GRAPHITE


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.