Ardiden Limited: New Lithium Exploration Programs Commence at Root Lake

Perth - Further to its announcement of 19 July, Ardiden Ltd. (ASX:ADV) is pleased to advise that the next phase of exploration has now also commenced at its newly acquired Root Lake Lithium Project in Ontario, Canada with the exploration team currently on the ground conducting mapping and sampling programs.

HIGHLIGHTS

- A geological team is now on the ground at the newly acquired Root Lake Lithium Project in Ontario, Canada.

- Initial focus is to map and channel sample the Root Lake prospect.

- The results will be used to validate historical drilling and sampling results and to confirm the orientation of the pegmatite structures. All data collected will be included in any future resource models.

- The geological team will conduct a survey of the current prospect to identify potential extensions of the known pegmatite structures, to delineate any additional pegmatite structures in the surrounding area, and to define any further drill-ready targets ahead of the next phase of drilling.

- Final preparations are almost complete to undertake further exploration activities at the Root Bay Lithium Projects and the Manitouwadge Graphite project, following the start of ground-based exploration programs at the Seymour Lake Lithium Project.

As previously announced, the Company is adequately funded for the next stage of ground-based exploration activities and resource development activities following the recently completed $2.9 million capital raising.

ROOT LAKE LITHIUM PROJECT

Ardiden confirms that the next phase of its planned exploration program at the Root Lake Project is currently underway with geological teams on site. This phase of exploration is expected to take approximately three weeks to complete.

This program is being undertaken in conjunction with a further in-depth analysis of the current and historical drill and sampling data from the project.

The current exploration program includes detailed geological and structural mapping in order to develop a better understanding of the known pegmatites and the influence of the surrounding structures at the Root Lake Project.

The Company's geological team has also been tasked with obtaining grab and channel samples from the known outcropping pegmatite structures at the Root Lake prospect.

Ardiden has already identified multiple new drill-ready targets areas along both the McCombe and Root Lake prospects, which will provide Ardiden with the opportunity to expand the known zones of lithium mineralization at these locations.

After completing these tasks, the team will then survey and undertake a broader mapping and sampling program around the known pegmatite structures, in order to develop a better understanding of the potential for extensions of the spodumene mineralization zones at the Root Lake prospect, and to detect any additional pegmatite structures in the surrounding area which have not previously been identified.

Figure 1 above shows the McCombe and Root Lake pegmatites, highlighting the various outcropping pegmatites structures, current and historical trenches and drilling, and the potential extensions of the lithium mineralisation zones.

The Root Lake prospect is an encouraging exploration target with a known strike length of 1,200m and remains open both to the east and west. Historical drilling completed in 1956 confirmed and intersected a pegmatite structure at depth (~25-30m below surface), verifying the presence of spodumene with grades of up to 2.62% Li2O being reported.

In 2009/2010, Golden Dory completed a trenching and sampling program on the outcropping zones of the pegmatite structure, which is located approximately 75m to 100m north of the historical drilling locations. Golden Dory reported grades of up 4.43% Li2O from those trench samples.

These historical high grade intersections of Li2O at the Root Lake prospect are consistent with the high grades identified at the McCombe prospect and provide Ardiden with greater confidence in the overall project to host multiple high grade spodumene structures.

The current exploration program will help Ardiden to develop a better understanding of whether the pegmatite intersected at the Root Lake prospect in the historical drilling is in fact the same pegmatite structure that is outcropping to the north and was tested by Golden Dory.

This phase of exploration will also provide the Company with a better understanding of the pegmatites and the influence of the surrounding structures, including the relationship and potential connection between the McCombe and Root Lake pegmatites.

Should a relationship and connection between the McCombe and Root Lake pegmatites be confirmed during this next phase of exploration, Ardiden will again have further opportunities to substantially expand the known lithium mineralisation zones at the Root Lake Project.

Once all grab and channel samples have been collected, logged and prepared, the samples will be sent to Activation Laboratories in Thunder Bay for assay and metallurgical testing.

The results obtained from this mapping and sampling program will be used to validate historical drilling and sampling results, while also confirming the orientation of the known pegmatite structures. The data collected from this program is expected to provide the Company with an improved understanding of the development of pegmatite structures and the relevant spodumene mineralization zones within these structures.

All of data collected during this program will also be incorporated into, and assist in the development of resource models for the project. These results will also enable Ardiden to better plan for the next phase of drilling at Root Lake, which will be designed with the intent to delineate a maiden JORC compliant Mineral Resource estimate.

As announced on 22 June 2016, the recent due diligence drilling program at the McCombe prospect confirmed the high potential of the Root Lake project to host a quality lithium deposit. Although limited drilling was undertaken, the results further increased the Company's confidence in the historical drill data and the overall prospectivity of the Root Lake Project.

The assay results included several thick intercepts of spodumene-lithium mineralisation with all 151 drill core samples from the program showing various grades of lithium, including an exceptional grade of 3.8% Lithium Oxide (Li2O).

The limited due diligence drilling previously completed by Ardiden confirmed multiple mineralization zones at the McCombe prospect.

Ardiden verifies the geological team on site at the Root Lake Lithium Project have successfully located the extensive outcropping Root Lake pegmatite (refer to Figures 4 & 5, see link below). Multiple mineralisation zones have already been identified at surface and can be readily seen in Figure 4 (in link below).

The Company confirms that plans and preparations are currently being finalised in relation to undertaking supplementary exploration activities at the Root Bay Lithium Project and additional field work at the Manitouwadge Graphite project.

Ardiden looks forward to providing further updates and results from this mapping and sampling program as they come to hand.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/U95L27XO


About Ardiden Ltd:

Ardiden Ltd. (ASX:ADV) is an Australian mineral exploration company seeking to generate shareholder wealth by identifying, acquiring and developing mineral projects in any jurisdiction that possess the potential for cashflow and growth



Contact:

Ardiden Ltd.
E: info@ardiden.com.au
www.ardiden.com.au

Brad Boyle
Ardiden Ltd.
Tel: +61-8-6555-2950

Nicholas Read - Read
Mobile: +61-419-929-046