Ardiden Options Second Lithium Project in Ontario

February 10, 2016

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Ardiden Ltd. (ASX:ADV) announced that it’s expanded its portfolio of Ontario-based lithium projects by securing an option to acquire a second advanced lithium project in the province. The new project, called Root Lake, is currently owned by Landore Resources Ltd. (LSE:LND), and will complement the company’s Seymour Lake project.

The press release states:

The Company has entered into an option agreement with Landore Resources Limited to acquire 100% of the advanced Root Lake Lithium Project, opening up a second front for lithium exploration alongside the recently secured Seymour Lake Lithium Project (also under option to acquire 100%), where a maiden drilling program is set to commence shortly.

The option deals give Ardiden an outstanding opportunity to acquire two high-quality lithium projects with known spodumene mineralisation, extensive historical drilling and the potential to establish JORC compliant resources relatively quickly.

The proposed acquisition of the Root Lake Lithium Project is consistent with the Company’s strategy of acquiring and developing commodity projects (lithium and graphite) which are highly leveraged to the forecast growth in the lithium-ion battery sector.

Click here to read the full Ardiden Ltd. (ASX:ADV) press release.

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Category: Energy