Canada-focussed Ardiden (ASX: ADV) has signed a non-binding Memorandum of Understanding (MOU) with nearby lithium developer Rock Tech Lithium to combine efforts to work towards developing one lithium project.
The project would combine the hard rock spodumene mineral resources at Ardiden’s Seymour Lake and at Rock Tech’s Georgia Lake lithium projects in northwest Ontario, Canada. The projects are approximately 15km apart.
Rob Longley,Ardiden’s Chief Executive Officer, said the projects have multiple beneficial synergies with the deposits being located proximal to railway, power supply and close to the regional mining and shipping centre at Thunder Bay.
Mr Longley said Ardiden and Rock Tech will work together to develop a project to potentially supply Spodumene Concentrate at 6-7% Li2O, initially from a combination of their two flagship lithium projects.
The companies are also looking to work together to:
- Undertake Technical Collaboration for the development of optimal transportation of mined Spodumene material (DSO) from Seymour Lake to Georgia Lake
- Design and evaluate the best suitable processing and supporting infrastructure facilities at Rock Tech’s Georgia Lake Site
- Progressively bring additional spodumene resources on-stream from other 100%-owned Ontario lithium projects
- Develop options for joint value-adding strategies through potential development of downstream processing facilities at Thunder Bay, Ontario
In June 2018, Rock Tech released a resource estimate that included 6.58Mt Measured and Indicated resources. Additionally. 6.72Mt of Inferred resources were estimated within this area.
