Arcadia Minerals Ltd (ASX:AM7) has obtained promising early results from its extended drilling programme at the Swanson Tantalum Project in Namibia.
CEO, Philip le Roux, said the phase 2 drilling campaign results have exceeded the company’s expectations.
“We are looking forward to the updated Mineral Resource statement for the Swanson Tantalum project by Snowden Mining Consultants by Q2/2022 and to possibly complete a feasibility study by Q3/2022.”
Executive Chairman, Jurie Wessels, said the company’s stated aim at the listing in June 2021 was to transform the Swanson Tantalum Project into a cash generative exploitation operation as soon as possible.
“The results achieved with this drilling program has given us the confidence to forge ahead with the necessary studies to achieve this vision, and to commence with preparations to attract appropriate financing mechanisms once the feasibility study is successful.”
Drilling Results
The aim of the additional drilling campaign was to convert the current JORC compliant inferred Mineral Resource to an indicated and/or measured Mineral Resource, and to add additional indicated and inferred Mineral Resources to the existing JORC Mineral Resource, which was declared by the xompany in September 2021.
The existing Mineral Resource estimate confirmed a maiden Indicated Mineral Resource of 633,500 tons @ 431 g/t Ta2O5, 2800 ppm Li2O and 76 g/t Nb2O5, and an inferred Mineral Resource of 544,000 tons @ 389 g/t Ta2O5, 3000 ppm Li2O and 75 g/t Nb2O5 for a total Mineral Resource of 1.2Mt @ 412 g/t Ta2O5, 2900 ppm Li2O and 76 g/t Nb2O5.
The completed additional drilling campaign focused on the up-dip potential of 11 of the 15 identified flat dipping and shallow pegmatites that exist within the Swanson pegmatite swarm, and in particular at the open pit potential of the eight pegmatites (D0, D1, D2, E6, E7, E8, F1 and F2).
A total of 29 diamond drill holes, totalling 1,217.54 m has been completed. All the holes contained pegmatite intersections and have been sampled and the samples were sent to Scientific Services Laboratory in South Africa for analyses.
The weighted average width and grade of the F1 pegmatite as intersected in 13 drill holes covering the up-dip and potentially the open pit target area is given as 1.93 m (0.23 – 3.48 m) @ 596 g/t Ta2O5 (161 – 884 ppm) + 765 ppm Li2O (37 – 8562 ppm) + 67 g/t Nb2O5 (54 – 90 g/t).
Three drill holes drilled over the D-pegmatite area (D0, D1 and D2 pegmatites) contained several stacked intersections of > 3 m, with the thickest single intersection being 9.53 m.
To date, sample results of 17 drill holes have now been received, inclusive of the four drill holes previously released.
A Mineral Resource update is to be conducted by Snowden Mining Consultants once all the assay results are received and is expected to be completed by Q2/2022. It is expected that this Mineral Resource update would form the basis of a planned feasibility study of the project.
For further information please visit: https://www.arcadiaminerals.global/
