FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Tantalum results exceed for Arcadia in Southern Africa

21 February 2022
Jack Baker

Arcadia Minerals have returned intersections averaging more than 372 grams per tonne tantalum oxide at the Swanson tantalum project just north of Namibia’s Orange River.

All nine holes intersecting pegmatite finalised a 100 per cent hit rate of the 29-hole drilling program.

The lustrous transition metal is considered a technological-critical element by the European Commission for its use as a capacitator in electronics, and its rarity can lead to staggeringly high prices.

Surpassing expectations, the assay results from the last dozen holes provide a potential increase to the explorer’s existing open-pit mineral resource with next quarter’s upcoming JORC update to provide the basis of a feasibility study.

The company said it was now in the anticipation stage of an augmented resource base.

“We are pleased results have exceeded our expectations. Now we look forward to an updated mineral resource statement and commencing the necessary studies to determine the economic viability of the Swanson Project,” chief executive Philip le Roux said.

The drill hole database has been delivered to commence the review and update of the mineral resource statement of the existing 1.2-tonne resource base.

While anticipating results, the company will continue to explore its lithium, copper, gold, nickel and PGE projects across the southwest African nation.

AM7’s Australian Stock Exchange-listed price is currently trading at 24c (11:36 am UTC+8 hours).

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!