(MENAFN- ProactiveInvestors)
Ardiden Limited (ASX: ADV) has produced a concentrate of up to 94.8% graphite from initial beneficiation testwork on samples from its Manitouwadge graphite project located in Ontario Canada.
The company formerly known as noted this was achieved using simple flotation and gravity methods.
Historical metallurgical testwork indicates that 55% of the graphite is high-value jumbo or large flake graphite. Recent channel sampling has confirmed flake graphite at surface.
Jumbo and large flake graphite yields a significant premium over medium and fine flake graphite and is expected to be in high demand for use in new technologies such as lithium-ion batteries and electric vehicles.
Ardiden has also informed the vendor of its intention to exercise its option over the Manitouwadge project.
The company has the option to acquire 100% of the 3400 hectare project for C$149000 minimum expenditure requirement of $15200 to advance exploration of the property and reimburse property taxes and granting the vendor a 2% gross production royalty.
Planning is underway for a maiden drilling program to test the outcropping graphite at depth.
Manitouwadge Graphite Project
Manitouwadge has proven outcropping graphite with recent channel sampling confirming flake graphite at surface.
Six significant EM conductors identified by previous owner Noranda while exploring for VHMS deposits.
The project is located in an established mining province with good access to infrastructure and local contractors and suppliers.
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