In line with its gold exploration strategy, Ardiden expanded its landholding to 664Km2 (during the March 2020 Quarter) at its Pickle Lake Gold Project in Ontario, through staking additional highly prospective ground over greenstone belts, which are both contiguous and along strike of historical gold mines and known gold deposits.
Ardiden's connected gold Properties at Pickle Lake now extend over more than 100km across a district-scale package in the Tier 1 mining jurisdiction of Ontario. Tenure was selected on the basis of hosting prospective structures and lithologies analogous to gold mineralisation styles at other locations within the regional Uchi area, such as the Musselwhite Gold Mine (Newmont-Goldcorp Corp), Red Lake Gold Mining Operations (Evolution Mining) and the Dixie Gold Exploration Project (Great Bear Resources).
Historical Drilling Data Review
During the Quarter, an extensive review of historical data and drilling results from Ardiden's 100%-owned 'DorothyDobie' Gold Property and recent acquisition of the 'New Patricia' Gold Property (with Exiro Minerals Corp) revealed high-grade drill intercepts up to 472.8 g/t AU over a 25km strike length.
Ardiden's Managing Director and CEO, Mr Rob Longley, travelled to Pickle Lake in March to finalise negotiations with the Mishkeegogamang First Nations on a Gold Exploration MOU. During his visit, Mr Longley also reviewed the Company's exploration strategy and inspected prospective properties and access tracks to the Kasagiminnis Deposit to further define the Company's upcoming drill program at the Pickle Lake Gold Project. As announced during the Quarter, planned winter drilling was unable to proceed due to a combination of unseasonably warm conditions, the extended timeframe of negotiating in-principle terms of an exploration MOU with the Mishkeegogamang First Nations Group, and uncertainty and travel restrictions triggered by the COVID-19 pandemic.
Ardiden believes the optimal and cost-effective window for exploration drilling has now moved to the summer season. Subject to final approvals and prevailing COVID-19 restrictions, the Company's immediate priority is to recommence drilling at Kasagiminnis to extend its current 110,000oz JORC 2012 resource.
CONFERENCES AND MARKETING
During the March Quarter, Mr Longley also presented and exhibited at the RIU Explorers conference in Fremantle, Western Australia. The team met with brokers, investors, mining companies and other potential investors throughout the three-day event where over 600 delegates attended.
LITHIUM PROJECTS
Seymour Lake (ADV: 100%)
The Company continues to hold its 100% owned Seymour Lake Lithium Project, which has a Mineral Resource of 4.83Mt @ 1.25% Li20 and 186ppm Ta205, with sufficient exploration assessment to hold tenure without further expenditure commitments for several years. In addition to the 4.8Mt JORC Mineral Estimate, Seymour Lake also has an Exploration Target of an additional 4.5Mt - 7.2Mt @ 0.8% Li20 to 2.4% Li20. Post Quarter-end, and following discussions with its MOU partner, Ardiden agreed to extend its non-binding Memorandum of Understanding with Rock Tech Lithium (TSX-V: RCK) (10 October 2019) to further define parameters and project options. Ardiden's Seymour Lake and Rock Tech's Georgia Lake lithium projects are situated approximately 100km apart and have multiple beneficial synergies being located proximal to railway, power supply and close to the regional mining and shipping centre at Thunder Bay. No expenditure was incurred at any of Ardiden' Lithium Projects during the Quarter.
Root Lake (ADV: 100%)
No exploration activities were undertaken at the Root Lake & Root Bay Lithium Projects during the Quarter.
Wisa Lake (ADV: 100%)
No exploration activities were undertaken at the Wisa Lake Lithium Project during the Quarter.
Unmarketable Parcel Share Sale Facility
In January 2020, the Company announced a share sale facility for shareholders with less than $500 worth of fully paid ordinary ADV shares (Unmarketable Parcel). Based on the ASX closing price of ADV's shares ($0.004) on Wednesday 15 January 2020 (Record Date) the Directors determined a less than marketable parcel was any shareholding of 124,999 shares or less. The Company confirms following receipt of Share Retention Forms, the final number of shares eligible for sale under the Facility is 48,189,701 shares from a total of 1,266 shareholdings.
The final sale price under the Facility will be determined by when and how the shares are sold. Ardiden may sell the shares on market or in any other way it considers fair and reasonable. The Company intends to finalise sales as soon as practicable given prevailing market conditions, and will update the market in respect of final sales made under the Facility. On completion, sale proceeds will be paid in Australian dollars by Cheque to the relevant recipients including non-resident holders.
COVID-19
Precautionary measures were introduced across the Company in early March in response to the global Coronavirus (COVID-19) pandemic. Key initiatives protect the health and safety of Ardiden employees, contractors and all stakeholders in the communities in which the Company operates. New operational procedures abide by all COVID-19 obligations and restrictions introduced in Australia and Canada since February 2020. These procedures are being closely monitored and will be updated as the COVID-19 situation continues to unfold. The Company will update the market as new information comes to hand.
Contact:
Rob Longley
CEO
Tel: +61 (0) 8 9322 7600
Email: info@ardiden.com.au
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.
ROCK TECH LITHIUM INC. 
