Drilling off to a cracking start at Manitouwadge
Drilling at Ardiden’s (ASX:ADV) graphite project in Canada is off to a good start with 14 out of 15 holes hitting mineralisation and testing confirming low-cost floatation was a good fit for its graphite.
It has been drilling at its Manitouwadge graphite project in Canada since the start of the month, testing the Silver Star and Silver Birch electromagnetic anomalies.
The effective strike length of these anomalies is 19.3km and previous sampling had confirmed graphite flake size distribution of jumbo and large flake graphite in up to 80% of samples.
ADV told its shareholders yesterday that it had managed to drill 15 diamond holes for 1216m, with 14 out of 15 hitting mineralisation.
Samples from the drilling have been sent off from the lab for assessment.
It also told its shareholders that further metallurgical work on the previous sampling had confirmed low-cost floatation beneficiation could bring its graphite up to 96.8% total graphitic content.
This was an improvement on previous tests which had finished with a grade of 95.6%.
The feed grade for the latest testing was 11.4%.
It said the positive result meant that it could now start to think about whether to sell the raw product, or process it further to achieve grades of up to 99.5%.
More on the Manitouwadge project
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.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.