Drilling off to a cracking start at Manitouwadge

Published at Nov 26, 2015, in Small Caps

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.

View Our Investment Portfolios



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.

Publishers Notice

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.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!