Arcadia Minerals Ltd. announced the assay results for the first hole drilled at Madube pan, have intersected similar grades to the Eden Pan, where a Lithium JORC Mineral Resource has previously been defined. Similar Grades Intersected at Madube Pan to that of Eden Pan: The assay results of the first hole drilled at Madube pan, MDB01, indicate that the grades within the green clay units intersected are similar to the grades of the green clays at Eden pan. Previous drilling over the Eden pan, resulted in an Inferred JORC1 Mineral Resource for the green clays of 85.2 million tons at 633 ppm Li for 286,909-ton Lithium Carbonate using a 500 ppm Li cut-off.

Utilising a similar cut-off at the Madube Pan, drill hole MDB01 resulted in a 9.6m mineralised intersection at an average grade of 605 ppm Li. The clay unit thickness analysed from the 8 holes drilled to date at the Madube Pan, suggest the green clay unit is 44% thicker than the green clay unit of the Eden Pan. A total of 11 of the planned 15 auger holes over the Madube Pan (of which the pan is 517 hectares in extent) has been received.

On confirmation of the Lithium mineralisation at Madube Pan, the Company has increased the planned drill program from 15 to 24 holes. The Madube Pan is one of 14 exposed pans at the Bitterwasser project. The drilling at the Madube Pan is expected to be completed by December 2022, with assay results expected by the first quarter of 2023 and an updated resource statement by the second quarter of 2023.

Eight of the eleven drill holes intersected the green mineralised clay unit. Holes that did not intersect the green clay unit were drilled on the edge of the pan, with the green clay unit being located in the centre of the pan, as was the case with the Eden Lithium Pan.