Basic Materials

Arcadia posts encouraging drill results: More to come

Thu 16 Dec 21, 2:02pm (AEST) · Updated: Thu 16 Dec 21, 2:05pm (AEST)
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Key Points

  • Arcadia confirms high grade intercepts of Tantalum pentoxide
  • The stock briefly jumped, before dropping back to trade flat

Arcadia Minerals (ASX: AM7) has provided initial drilling results from follow-up drilling on the Swanson Tantalum Project in Namibia. 83% of the 1,100m drilling program, which began in August 2021, has been finished.

Today's drilling result saw Arcadia's price up 4.74% (1c) two hours out from the close.

Arcadia Minerals is a diversified exploration company with projects targeting Tantalum, Lithium, Nickel, Copper, and Gold.

Today’s announcement confirmed high grade intercepts with an average thickness of 2.31m and a weighted average grade of 559 g/t Tantalum pentoxide (Ta2O5).

With its high refractive index and low absorption, Tantalum pentoxide is a useful coating material due to its inert properties. The substance is used in the production of capacitors, along with the fabrication of glass in photographic lenses.

Commenting on today’s announcement, CEO Philip le Roux said: 

“We are optimistic that the encouraging results received so far will be replicated in the remaining drill holes, and that the Company could expect similar mineralisation trends as those that were evident from the assays of drill cores which contributed to the maiden Mineral Resource.”

Drilling at the project is expected to be done by the end of January.

Following confirmation of a potentially enlarged mineral resource, a full feasibility study will be considered to assess the economics of producing a 25% Tantalum pentoxide concentrate at the project.

Written By

Jed Herne

Content & Strategy

After graduating with a 99.4 ATAR, Jed won 3 scholarships to Curtin University, where he earned his Bachelor's degree and served as a Student Ambassador. He is primarily interested in long-term passive index funds as a vehicle for financial independence. Outside of covering financial news, Jed is a published author, podcaster, and has an unhealthy obsession with bouldering.

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