The latest raising is priced at 1.3c per share, with $2.25 million being raised last quarter when shares were issued at 1.8c.

Funds from the raising last quarter were also earmarked for Seymour Lake and due diligence drilling at Pickle Lake.

The equity raisings are in addition to Ardiden reporting in February the signing of a binding agreement with Long State Investments to provide the ASX-listed junior with up to $15 million over the next two years.

Ardiden said "members of the … board" were participating in the latest fund raising assuming relevant shareholder approval.

Canaccord is underwriting the $6.1 million raising, with the capital markets firm also appointed to provide ongoing corporate advisory services.

On the ground Ardiden reported last month it had identified 100 new lithium targets at Seymour Lake - following a review of satellite imagery.

Shares in Ardiden were up 8% to 1.4c in morning trade, capitalising the company at$16.5 million.

The stock spiked to levels around 3c four months ago.