high-grade lithium results support growth potential...

Ardiden Limited

Suite 12, 11 Ventnor Ave West Perth WA 6005

Tel: +61 (0) 8 6245 2050 Fax: +61 (0) 8 6245 2055

www.ardiden.com.au

ASX Code: ADV Shares on Issue: 1,677M

ASX ANNOUNCEMENT

29 October 2018

HIGH-GRADE LITHIUM RESULTS SUPPORT GROWTH POTENTIAL AT NORTH AUBRY DEPOSIT

HIGHLIGHTS:

• Ardiden continues to successfully progress the Resource expansion and exploration drilling program with 22 drill holes completed since August 2018

• Significant results from the next six drill holes ASD006 to ASD011, with a large number of results delivering intercepts in excess of 3% Li2O:

o ASD006: 9.01m @ 1.70% Li2O from 150.64m; o ASD007: 8.58m @ 1.31% Li2O from 162.42m; o ASD009: 27.46m @ 1.90% Li2O from 208.76m; o ASD010: 23.98m @ 1.54% Li2O from 212.10m;

▪ Including 0.55m @ 5.67% Li2O from 214.75m; and o ASD011: 37.61m @ 1.95% Li2O from 224.92m.

• Majority of drill holes have intersected multiple spodumene bearing pegmatites, with

indications that a number of pegmatites are thickening at depth

• The continued success and high-grade results at North Aubry underpin the premium quality of the lithium mineralisation at Seymour Lake

• The ongoing success and high-grade results from the Resource expansion and exploration drilling program, demonstrates the potential to significantly increase the Mineral Resource at North Aubry and the overall size and scale of Seymour Lake

*Note: stated lengths of intersections are down-hole lengths and the true thickness of the intersected pegmatites is not yet known and requires additional drilling to determine actual true thickness. Canadian-focused lithium explorer and developer, Ardiden Limited (“ADV” or “the Company”) (ASX: ADV), is pleased to announce further high-grade lithium results from its highly-prospective North Aubry prospect, located within the Company’s 100% owned flagship Seymour Lake Lithium Project in Ontario, Canada. The on-going success of the current Resource expansion and exploration drill program continues to provide Ardiden with a high-level of confidence towards Seymour Lake, as the Company continues to work towards its primary focus of substantially growing the project in both size and scale. Commenting on the high-grade lithium results from the Resource expansion drilling program at North Aubry, Ardiden CEO and Executive Director, Brad Boyle stated: “Ardiden is extremely pleased with the latest assay results from North Aubry which have identified lithium grades of up to 5.67% Li2O (ASD010). These results along with previous results from the drill program, highlight the significant potential of North Aubry to be an integral component in the definition of an upgraded Mineral Resource at Seymour Lake.”

2

THE RESOURCE EXPANSION DRILLING PROGRAM

The current drill program was designed to test and evaluate the down dip continuity of the North Aubry pegmatite,

and the excellent results which have been produced thus far have vindicated the Company’s decision to aggressively

explore this exciting prospect.

The potential to significantly increase the Seymour Lake project in size and scale continues to be enhanced with the

majority of drill holes completed thus far intersecting multiple spodumene-bearing pegmatites at various depths.

The impressive assay results obtained from the latest drill-holes (ASD006 – ASD0011), which included a significant

number of results in excess of 3% Li2O (refer to Appendix 2), combined with previous assay results, continue to

provide Ardiden with a high-level of confidence in the consistency and high-quality nature of the lithium

mineralisation present at Seymour Lake.

The ongoing success and delivery of high-grade lithium from the current drill program continues to reinforce the Company’s strategic approach to the Seymour Lake project. Defined by its high-quality lithium mineralisation, upside in expansion potential and exceptional metallurgical results, Ardiden continue to focus on growing Seymour Lake into a world-class, high-grade lithium project. SEYMOUR LAKE WORK PROGRAM

The current Resource expansion drill program will continue to target a number of highly-prospective drill targets at North Aubry in order to test the size and orientation of pegmatites that surround the North Aubry prospect. The company believes there is potential to discover additional spodumene mineralisation that will add to the overall size and scale potential of the North Aubry Mineral Resource. Once the current phase of the drilling program defines the outer perimeters of the North Aubry pegmatite, Ardiden will then move on to drill test the multiple drill targets between North Aubry and South Aubry, which were identified earlier this year through the field mapping and GPR survey. Additionally, as previously announced on 27 September 2018 in drill holes ASD002 – ASD005, the current drill program will also incorporate drill testing of the extensions and consistency of the new spodumene-bearing pegmatite dykes, that are overlying the main North Aubry pegmatite. Ardiden looks forward to providing further market updates as the drilling program progresses over the coming weeks.

ENDS For further information:

Investors: Brad Boyle Ardiden Ltd Tel: +61 (0) 8 6245 2050

Media: Michael Weir / Cameron Gilenko Citadel-Magnus +61 8 6160 4900

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Competent Person’s Statement

The information in this report that relates to exploration results for the Seymour Lake Lithium project and is based on, and

fairly represents, information and supporting geological information and documentation in this report has been reviewed by

Mr Robert Chataway who is a member of the Association of Professional Geologists of Ontario. Mr Chataway is not a full-time

employee of the Company. Mr Chataway is employed as a Consultant Geologist. Mr Chataway has more than five years relevant

exploration experience, and qualifies as a Competent Person as defined in the 2012 edition of the “Australasian Code for

Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr Chataway consents to the

inclusion of the information in this report in the form and context in which it appears.

Forward Looking Statement

This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements.

Although the company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions,

it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying

assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to

differ materially from those expressed herein. All references to dollars ($) and cents in this presentation are to Australian

currency, unless otherwise stated. Investors should make and rely upon their own enquires and assessments before deciding

to acquire or deal in the Company’s securities.

ADDITIONAL INFORMATION ON THE AUBRY DRILLLING RESULTS

APPENDIX 1: Discussion of Technical Details

Drill-holes ASD006 – ASD0011 have been completed as part of the ongoing drilling program leading to an updated

Mineral Resource for the North Aubry Lithium Deposit. The location and orientation of the holes (Table 1 and Figure

1) is designed to test the continuity of the North Aubry pegmatite further down-dip than has been tested by

previous drilling.

Table 1: ASD006-ASD011 Collar Table

* Drill-hole ASD008 deviated from the planned orientation and was abandoned at a depth of 50m. The hole was re-drilled from a slightly

different position and named ASD08A.

Drill-hole ID easting (mE) northing (mN) elevation (m) Grid Dip Azimuth (grid) EOH (m)

ASD006 397174 5585298 389 NAD-83, Z16 -75 198 200

ASD007 397174 5585299 389 NAD-83, Z16 -85 188 251 ASD08A* 397225 5585352 391 NAD-83, Z16 -70 206 240

ASD009 397225 5585353 391 NAD-83, Z16 -85 220 258

ASD010 397165 5585405 390 NAD-83, Z16 70 195 264

ASD011 397165 5585406 390 NAD-83, Z16 -85 193 330

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Figure 1: Collar Plan showing drill-holes ASD006-ASD011

All of the drill-holes intersected spodumene bearing pegmatite and the intersection achieved by ASD011 (37.61m

@ 1.95% Li2O) is the broadest intersection achieved to-date from any drilling campaign targeting the North Aubry

pegmatite. This intersection, along with the intersections achieved by ASD009 and ASD010 (Table 2) reveal that the

pegmatite thickens substantially at depth.

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Table 2: Intersections of pegmatites achieved by drill-holes ASD006-011

The North Aubry pegmatite is a zoned LCT Complex (spodumene sub-type) pegmatite but differs from most other

examples of this type of pegmatite, which generally are mostly comprised of by feldspar-rich zones. However, the

North Aubry pegmatite is unusual because it is mostly comprised of spodumene-bearing zones, often containing a

large proportion of spodumene. However, there are parts of the pegmatite in which spodumene is less abundant,

an example of which is the part intersected by ASD08A. This intersection is about 60m up-dip from the intersection

achieved by ASD009 and mainly comprised of feldspar with only the central portion, from 195.92m-199.24m,

containing spodumene. This interval assayed 3.32m @ 1.05% Li2O.

The orientation of the basal contact between the main pegmatite and host rock in the drill-holes suggest that the

dip of the pegmatite decreases from about 450 to about 100 at the location intersected by ASD009 and ASD011,

about 450m down-dip from the outcrop of the pegmatite (Figures 2 and 3).

Drill hole I.D. From (m) To (m) Intersection achieved

ASD006 53.00 54.10 1.10m @ 0.40% Li2O

150.64 159.65 9.01m @ 1.70% Li2O

ASD007 55.94 57.36 1.42m @ 0.10% Li2O

164.42 173.00 8.58m @ 1.31% Li2O

178.63 179.27 0.64m @ 0.03% Li2O

246.36 247.43 1.07m @ 0.02% Li2O

ASD08A 73.60 75.27 1.67m @ 0.03% Li2O

189.00 202.00 13.00m @ 0.35% Li2O

ASD009 73.76 74.22 0.46m @ 0.02% Li2O

208.76 236.22 27.46m @ 1.90% Li2O

ASD010 65.75 66.00 0.25m @ 0.01% Li2O

66.94 69.00 2.06m @ 0.32% Li2O

82.15 82.44 0.29m @ 0.02% Li2O

90.67 91.02 0.35m @ 0.03% Li2O

212.10 236.08 23.98m @ 1.54% Li2O

ASD011 61.25 62.30 1.05m @ 0.04% Li2O

80.70 80.92 0.22m @ 0.02% Li2O

86.05 87.62 1.57m @ 0.02% Li2O

199.68 203.28 3.6m @ 0.01% Li2O

224.92 262.53 37.61m @ 1.95% Li2O

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Figure 2: Cross-section AB. Note that drill-holes ASD006 and ASD007 lie within a different plane to drill-holes

ASD08A and ASD009 and therefore that the depicted intersections are schematic.

Figure 3: Cross-section CD.

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Note that the host-rock geology displayed in both Figures 3 and 4 has been greatly simplified. In both cases there

are broad zones of shearing that have altered and deformed the basalt, but these zones are complex, not well

understood and are difficult to depict. The deformation of the basalt creating the shear zones occurred before the

pegmatite; the shear zones do not displace the pegmatite.

APPENDIX 2: Assay Results (Li2O, Ta & Nb)

Drill-hole

From (m)

To (m) Interval

(m) Rock Type

Sample ID Li2O (%) Ta

(ppm) Nb

(ppm)

ASD006 53.00 54.10 1.10 pegmatite E5563819 0.399 175 76

ASD006 150.64 151.90 1.26 pegmatite E5563837 0.927 84.3 64

ASD006 151.90 152.81 0.91 pegmatite E5563838 0.437 71.1 100

ASD006 152.81 154.00 1.19 pegmatite E5563839 2.4 134 53

ASD006 154.00 155.00 1.00 pegmatite E5563840 3.96 133 39

ASD006 155.00 156.00 1.00 pegmatite E5563841 1.69 305 116

ASD006 156.00 157.00 1.00 pegmatite E5563842 2.74 195 55

ASD006 157.00 157.57 0.57 pegmatite E5563843 4.82 86.3 49

ASD006 157.57 158.19 0.62 pegmatite E5563844 0.976 94.2 150

ASD006 158.19 159.00 0.81 pegmatite E5563845 0.693 86.5 57

ASD006 159.00 159.65 0.65 pegmatite E5563846 0.424 122 42

ASD007 55.94 57.36 1.42 pegmatite E5563863 0.098 218 60

ASD007 164.42 164.91 0.49 pegmatite E5563881 0.1 32.7 21

ASD007 164.91 165.85 0.94 pegmatite E5563882 0.318 344 250

ASD007 165.85 167.00 1.15 pegmatite E5563883 1.55 91.7 40

ASD007 167.00 168.00 1.00 pegmatite E5563884 1.49 56 32

ASD007 168.00 169.00 1.00 pegmatite E5563885 1.79 481 85

ASD007 169.00 170.00 1.00 pegmatite E5563886 2.04 86.3 33

ASD007 170.00 171.26 1.26 pegmatite E5563888 2.98 109 51

ASD007 171.26 172.00 0.74 pegmatite E5563889 0.162 129 73

ASD007 172.00 173.00 1.00 pegmatite E5563890 0.443 249 82

ASD007 178.63 179.27 0.64 pegmatite E5563896 0.033 194 90

ASD007 246.36 247.43 1.07 pegmatite E5563913 0.021 71 66

ASD08A 73.60 74.14 0.54 pegmatite E5563925 0.021 235 77

ASD08A 74.39 75.27 0.88 pegmatite E5563928 0.04 149 71

ASD08A 189.00 189.48 0.48 pegmatite E5563945 0.388 207 122

ASD08A 189.48 190.12 0.64 pegmatite E5563946 0.118 73.4 57

ASD08A 190.12 190.62 0.50 pegmatite E5563948 0.158 22.9 25

ASD08A 190.62 191.53 0.91 pegmatite E5563949 0.214 105 31

ASD08A 191.53 192.50 0.97 pegmatite E5563950 0.087 78.1 18

ASD08A 192.50 193.50 1.00 pegmatite E5563951 0.08 29.1 3

ASD08A 193.50 194.50 1.00 pegmatite E5563953 0.122 25.8 3

ASD08A 194.50 195.50 1.00 pegmatite E5563954 0.047 33.1 5

ASD08A 195.50 195.92 0.42 pegmatite E5563956 0.216 33 23

ASD08A 195.92 196.90 0.98 pegmatite E5563957 1.26 90.5 47

ASD08A 196.90 197.90 1.00 pegmatite E5563958 1.09 52.5 30

8

ASD08A 197.90 198.55 0.65 pegmatite E5563960 1.91 113 51

ASD08A 198.55 199.24 0.69 pegmatite E5563961 0.95 111 121

ASD08A 199.24 200.50 1.26 pegmatite E5563962 0.112 155 56

ASD08A 200.50 201.00 0.50 pegmatite E5563963 0.364 86 47

ASD08A 201.00 202.00 1.00 pegmatite E5563964 0.055 174 87

ASD009 73.76 74.22 0.46 pegmatite E5563975 0.022 174 84

ASD009 208.76 209.76 1.00 pegmatite E5563986 0.525 470 311

ASD009 209.76 210.50 0.74 pegmatite E5563987 0.515 198 109

ASD009 210.50 211.12 0.62 pegmatite E5563988 1.44 75.9 13

ASD009 211.12 211.50 0.38 pegmatite E5563989 1.26 132 21

ASD009 211.50 212.30 0.80 pegmatite E5563990 5.03 104 8

ASD009 212.30 213.00 0.70 pegmatite E5563992 1.01 463 31

ASD009 213.00 214.00 1.00 pegmatite E5563993 2.13 58.2 6

ASD009 214.00 214.74 0.74 pegmatite E5563994 0.547 63.6 10

ASD009 214.74 215.70 0.96 pegmatite E5563995 1.69 240 22

ASD009 215.70 216.30 0.60 pegmatite E5563997 3.26 58.9 12

ASD009 216.30 217.00 0.70 pegmatite E5563998 0.921 85.6 12

ASD009 217.00 218.00 1.00 pegmatite E5563999 4.1 458 11

ASD009 218.00 219.00 1.00 pegmatite E5564001 2.65 71.5 7

ASD009 219.00 220.00 1.00 pegmatite E5564002 1.88 155 21

ASD009 220.00 221.00 1.00 pegmatite E5564003 2.31 256 24

ASD009 221.00 222.00 1.00 pegmatite E5564004 2.7 250 21

ASD009 222.00 223.00 1.00 pegmatite E5564005 2.64 867 59

ASD009 223.00 224.00 1.00 pegmatite E5564006 4.01 310 17

ASD009 224.00 225.00 1.00 pegmatite E5564007 2.88 394 93

ASD009 225.00 226.00 1.00 pegmatite E5564008 2.32 695 319

ASD009 226.00 227.00 1.00 pegmatite E5564009 1.97 504 222

ASD009 227.00 228.00 1.00 pegmatite E5564010 1.14 307 192

ASD009 228 229.00 1.00 pegmatite E5564028 3.2 274 147

ASD009 228.00 229.00 1.00 pegmatite E5564012 3.25 358 192

ASD009 230.00 231.00 1.00 pegmatite E5564013 3.93 225 157

ASD009 231.00 232.00 1.00 pegmatite E5564014 3.98 200 38

ASD009 232.00 232.60 1.00 pegmatite E5564015 1.77 60.6 26

ASD009 232.60 233.28 0.68 pegmatite E5564016 0.293 92.2 33

ASD009 233.28 234.20 0.92 pegmatite E5564017 0.037 229 71

ASD009 234.20 235.20 1.00 pegmatite E5564018 0.03 183 52

ASD009 235.20 236.22 1.02 pegmatite E5564020 0.027 178 73

ASD010 65.75 66.00 0.25 pegmatite E5564032 0.007 295 81

ASD010 66.94 67.80 0.86 pegmatite E5564034 0.116 87.7 59

ASD010 67.80 68.58 0.78 pegmatite E5564035 1.09 466 50

ASD010 68.58 69.00 0.42 pegmatite E5564037 0.027 319 102

ASD010 82.15 82.44 0.29 pegmatite E5564043 0.016 243 68

ASD010 90.67 91.02 0.35 pegmatite E5564048 0.028 99.7 79

ASD010 212.10 212.54 0.44 pegmatite E5564060 0.113 115 79

9

ASD010 212.54 213.60 1.06 pegmatite E5564061 0.29 59.5 60

ASD010 213.60 214.09 0.49 pegmatite E5564062 0.082 14.7 5

ASD010 214.09 214.75 0.66 pegmatite E5564063 1.26 39.9 11

ASD010 214.75 215.30 0.55 pegmatite E5564064 5.67 129 20

ASD010 215.30 215.87 0.57 pegmatite E5564065 0.126 13.8 2

ASD010 215.87 216.45 0.58 pegmatite E5564066 3.74 148 19

ASD010 216.45 217.00 0.55 pegmatite E5564067 2.4 82.5 8

ASD010 217.00 218.00 1.00 pegmatite E5564068 3.44 85.3 13

ASD010 218.00 219.00 1.00 pegmatite E5564069 0.06 20.4 2

ASD010 219.00 220.00 1.00 pegmatite E5564070 0.101 17.8 4

ASD010 220.00 221.00 1.00 pegmatite E5564072 0.075 24.2 3

ASD010 221.00 222.00 1.00 pegmatite E5564073 0.377 57.6 7

ASD010 222.00 223.00 1.00 pegmatite E5564074 1.98 23 3

ASD010 223.00 224.00 1.00 pegmatite E5564075 2.56 158 12

ASD010 224.00 225.00 1.00 pegmatite E5564077 1.69 29.8 14

ASD010 225.00 226.00 1.00 pegmatite E5564078 2.51 53.5 16

ASD010 226.00 227.00 1.00 pegmatite E5564079 2.2 60.2 10

ASD010 227.00 228.00 1.00 pegmatite E5564081 3.26 231 178

ASD010 228.00 229.00 1.00 pegmatite E5564082 4.62 205 138

ASD010 229.00 230.00 1.00 pegmatite E5564083 3.64 290 200

ASD010 230.00 231.00 1.00 pegmatite E5564084 1.53 174 122

ASD010 231.00 232.00 1.00 pegmatite E5564085 2.71 112 80

ASD010 232.00 233.00 1.00 pegmatite E5564086 2.91 107 57

ASD010 233.00 233.70 0.70 pegmatite E5564087 1.96 139 102

ASD010 233.70 234.33 0.63 pegmatite E5564088 0.175 75.9 57

ASD010 234.33 235.00 0.67 pegmatite E5564089 0.075 47 20

ASD010 235.00 236.08 1.08 pegmatite E5564090 0.054 130 65

ASD011 61.25 62.30 1.05 pegmatite E5564102 0.041 97.6 60

ASD011 80.70 80.92 0.22 pegmatite E5564107 0.015 282 54

ASD011 86.05 87.00 0.95 pegmatite E5564113 0.012 18.7 12

ASD011 87.00 87.62 0.62 pegmatite E5564114 0.057 47 29

ASD011 199.68 200.68 1.00 pegmatite E5564121 0.008 75.4 27

ASD011 200.68 201.50 0.82 pegmatite E5564122 0.008 227 78

ASD011 201.50 202.52 1.02 pegmatite E5564123 0.005 88.2 21

ASD011 202.52 203.28 0.76 pegmatite E5564124 0.013 167 63

ASD011 224.92 225.90 0.98 pegmatite E5564135 1.53 179 71

ASD011 225.90 226.75 0.85 pegmatite E5564136 0.966 107 34

ASD011 226.75 227.24 0.49 pegmatite E5564137 0.469 91.5 33

ASD011 227.24 227.87 0.63 pegmatite E5564138 0.602 76.9 85

ASD011 227.87 228.50 0.63 pegmatite E5564140 1.59 148 175

ASD011 228.50 229.00 0.50 pegmatite E5564141 5.24 30 15

ASD011 229.00 230.00 1.00 pegmatite E5564142 3.55 196 17

ASD011 230.00 231.00 1.00 pegmatite E5564143 5.62 87.5 20

ASD011 231.00 232.00 1.00 pegmatite E5564144 2.5 339 78

ASD011 232.00 233.10 1.10 pegmatite E5564145 0.428 655 172

10

ASD011 233.10 233.57 0.47 pegmatite E5564146 0.045 265 74

ASD011 233.57 234.20 0.63 pegmatite E5564147 2.09 95.1 53

ASD011 234.20 235.00 0.80 pegmatite E5564148 4.18 71 58

ASD011 235.00 236.00 1.00 pegmatite E5564149 4.28 106 47

ASD011 236.00 237.00 1.00 pegmatite E5564150 1.22 114 41

ASD011 237.00 238.00 1.00 pegmatite E5564152 5.43 38.9 16

ASD011 238.00 238.75 0.75 pegmatite E5564153 4.62 124 52

ASD011 238.75 239.50 0.75 pegmatite E5564154 5.39 73.2 36

ASD011 239.50 240.15 0.65 pegmatite E5564155 4.86 139 35

ASD011 240.15 241.00 0.85 pegmatite E5564157 0.256 271 103

ASD011 241.00 241.65 0.65 pegmatite E5564158 0.408 171 74

ASD011 241.65 242.35 0.70 pegmatite E5564159 2.16 258 66

ASD011 242.35 243.00 0.65 pegmatite E5564160 0.914 232 180

ASD011 243.00 244.00 1.00 pegmatite E5564161 2.74 200 120

ASD011 244.00 245.00 1.00 pegmatite E5564163 4.16 261 54

ASD011 245.00 246.00 1.00 pegmatite E5564164 4.34 250 109

ASD011 246.00 247.00 1.00 pegmatite E5564165 3.06 172 37

ASD011 247.00 248.00 1.00 pegmatite E5564166 2.29 219 110

ASD011 248.00 249.00 1.00 pegmatite E5564167 0.897 308 243

ASD011 249.00 250.00 1.00 pegmatite E5564168 2.42 199 71

ASD011 250.00 251.00 1.00 pegmatite E5564169 2.25 170 97

ASD011 251.00 252.00 1.00 pegmatite E5564170 0.554 71.3 24

ASD011 252.00 253.00 1.00 pegmatite E5564172 1.37 111 26

ASD011 253.00 254.00 1.00 pegmatite E5564173 1.02 122 53

ASD011 254.00 255.00 1.00 pegmatite E5564174 2.29 202 60

ASD011 255.00 256.00 1.00 pegmatite E5564175 4.17 59.3 19

ASD011 256.00 257.00 1.00 pegmatite E5564176 3.48 178 79

ASD011 257.00 258.00 1.00 pegmatite E5564177 0.991 126 62

ASD011 258.00 259.00 1.00 pegmatite E5564178 1.02 63.7 43

ASD011 259.00 260.00 1.00 pegmatite E5564180 0.627 77 58

ASD011 260.00 260.62 0.62 pegmatite E5564181 0.193 61.8 42

ASD011 260.62 261.42 0.80 pegmatite E5564182 0.373 233 64

ASD011 261.42 262.00 0.58 pegmatite E5564183 0.052 143 44

ASD011 262.00 262.53 0.53 pegmatite E5564184 0.031 207 60

Table 1: Seymour Lake Lithium Project (Claim Title 1245661)

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary

Sampling

techniques

• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

• Aspects of the determination of mineralisation that are Material to the Public Report.

• In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

• Diamond drilling was used to obtain 1m samples (or close to 1m) which were pulverised and digested using a sodium peroxide fusion followed by ICP-OES/ICP-MS.

Drilling

techniques

• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

• Diamond drilling producing BTW core, having a 42mm diameter. Core was oriented using a Reflex orientation tool.

Drill sample

recovery

• Method of recording and assessing core and chip sample recoveries and results assessed.

• Measures taken to maximise sample recovery and ensure representative nature of the samples.

• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

• Core was laid-out and measured. Core recovery was more than 95%.

Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

• Core has been geologically logged and geotechnically logged by qualified geologists and is of sufficient detail to support Mineral Resource estimation, mining studies and metallurgical studies.


• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

• The total length and percentage of the relevant intersections logged.

• Logging is both qualitative (geology) and quantitative (downhole surveys and RQD)

• All core drilled has been logged.

Sub-sampling

techniques and

sample

preparation

• If core, whether cut or sawn and whether quarter, half or all core taken.

• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

• For all sample types, the nature, quality and appropriateness of the sample preparation technique.

• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

• Whether sample sizes are appropriate to the grain size of the material being sampled.

• Sampling was achieved through longitudinal cutting of the core, with half-core submitted for assay.

• Certified reference materials (CRM’s aka “standards”), blanks and field duplicates were incorporated into the sample stream.

• Sample sizes are appropriate to the grain size of the material being sampled.

Quality of

assay data and

laboratory

tests

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

• Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.

• Samples were submitted to AGAT Laboratory in Thunder Bay, where they were crushed, pulverised, digested by sodium peroxide fusion and assayed by ICP-OES/MS for a broad suite of elements.

• The QA/QC procedures adopted by Ardiden and the laboratory confirmed that the results are both reliable and accurate.

verification of

sampling and

assaying

• The verification of significant intersections by either independent or alternative company personnel.

• The use of twinned holes.

• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

• Discuss any adjustment to assay data.

• The assay results have been verified by independent consultants. Data is documented and stored digitally in field laptop units and backed up on the Ardiden server.

Location of

data points

• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

• Specification of the grid system used.

• Quality and adequacy of topographic control.

• Collars have been surveyed using a high-accuracy RTK differential GPS with locations recorded in metric units using UTM NAD83 Zone 16N projection coordinates.

• Down-hole surveys were completed at 30m intervals.


Data spacing

and

distribution

• Data spacing for reporting of Exploration Results.

• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

• Whether sample compositing has been applied.

• Locations of the drill-holes is shown in a collar plan in Figure 1 within the announcement and stated within Table 1 of the announcement.

Orientation of

data in relation

to geological

structure

• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

• Samples obtained from the drilling are considered reliable and unbiased.

Sample

security

• The measures taken to ensure sample security. • Ardiden ensures that the chain-of-custody is maintained and safeguarded.

Audits or

reviews

• The results of any audits or reviews of sampling techniques and data. • No audits or reviews of sampling techniques have been conducted

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)


Mineral

tenement and

land tenure

status

• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

• The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.

• All claims in the Seymour Lake Lithium project are in good standing and these include claims 1245661 1245648 1245662 1245664 1245646, 4270593, 4270594, 4270595, 4270596, 4270597, 4270598, 4279875, 4279876, 4279877, 4279878, 4279879, 4279880, 4279881, 4279882, 4279883, 4279884, 4279885, 4279886, 4279887, 4279888, 4279889, 4279890, 4279891, 4279869, 4279870, 4279871, 4279872, 4279873 and 4279874.

• 400 new claim cells applications submitted to the MNDM

Exploration

done by other

parties

• Acknowledgment and appraisal of exploration by other parties. • Prior to Ardiden’s exploration, there was exploration for pegmatite-hosted mineralisation completed in the late 1950’s but this is poorly documented. The most recent exploration pre-dating Ardiden’s activities was by Linear Resources between 2001 and 2010, focussing upon tantalum mineralisation.

Geology • Deposit type, geological setting and style of mineralisation. • Seymour Lake area pegmatites have been classified as Rare Element, LCT


Complex-type, Spodumene-subtype pegmatites. Lithium mineralisation is comprised almost entirely of spodumene. Significant but localised tantalum mineralisation accompanies the lithium mineralisation. The pegmatites have variable orientations but generally strike northwest or north and dip towards the northeast at moderate angles.

Drill hole

Information

• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of

the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.

• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

• The required information is stated directly in the announcement, supported by appropriate images, or is contained in appendices.

Data

aggregation

methods

• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.

• Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

• The assumptions used for any reporting of metal equivalent values should be clearly stated.

• Grade cut-offs have not been incorporated.

Relationship

between

mineralisation

widths and

intercept

lengths

• These relationships are particularly important in the reporting of Exploration Results.

• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).

• The reported results are stated as down hole lengths and it is clearly stated that this is the case.

diagrams • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should

• A Collar Plan and Cross-sections of reported drill-holes are included as Figures 1, 2 & 3 and Table 1.


include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

Balanced

reporting

• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

• Assay results are reported for all samples that have been assayed.

Other

substantive

exploration

data

• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

• All meaningful and material data is reported.

Further work • The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).

• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

• Ardiden is engaged in ongoing drilling and exploration activities which will extend into 2019.

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