Based on just 23 hand auger holes completed since last October, Arcadia has announced a maiden resource of 13.7 million tons grading 553 parts per million for 40,375t of lithium carbonate equivalent.

 

The Madube Pan appears to be substantially thicker than the original Eden Pan target, and the grade appears to be improving at depth, with a number of holes ending in mineralisation that exceeded 900ppm.

 

Deeper diamond core drilling is planned. 

 

The company will undertake tests to examine the potential for cyclones to increase the grade, given work on samples from the Eden Pan delivered a 28% boost.

 

The Bitterwasser project now contains 327,285t LCE, with an initial target of 500,000t.

 

It has resources for just two of 14 identified clay pans. 

 

Early results at a third, the Stryfontein Pan, has been promising, and there is potential for lithium brines at depth at Bitterwasser. 

 

Assays from three stratigraphic holes are pending to assess the deeper sub-basins.

 

Arcadia has enjoyed some success at its Gamikaub project with copper, gold and tungsten intersected in recent weeks, and is close to finalising a feasibility study on the Swanson tantalum project.

 

The company ended the March quarter with $733,000 cash remaining from its $6.7 million float.

 

Shares in the junior have traded at 13-48c over the past year and were steady this morning at 20c, capitalising the company at $17 million.