trending Market Intelligence /marketintelligence/en/news-insights/trending/_dNOlaI69pFO84NjbB4mog2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Ardiden exercises option to acquire Root Lake lithium project from Landore

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020


Ardiden exercises option to acquire Root Lake lithium project from Landore

Following the completion of a due diligence review,Ardiden Ltd. saidJuly 11 that it has formally exercised its option to acquire 100% of theRoot Lakelithium project in Ontario from Landore Resources Ltd. unit

Ardiden will pay C$150,000 in cash and C$150,000 of its sharesafter the receipt of appropriate documentation from Landore.

As part of the agreement, Landore retains a 3% net smelterreturn royalty, half of which can be bought by Ardiden for C$1 million.

The recentdiamond drilling program at the project returned grades of up to3.8% lithium oxide from analysis of 151 core samples, confirming the qualityand continuity of the mineralization at the McCombe pegmatite.

Ardiden has identified multiple drill-ready targets on theMcCombe and Root Lake pegmatite structures which have the potential tosignificantly expand the mineralization in the area.

Prior to undertaking further drilling, the company is likelyto carry out a further analysis of the current and historical data along with adetailed geological and structural mapping program.

In February, the companies an option agreement over RootLake.