Proactive Investors - Run By Investors For Investors

Ardea Resources confirms high-grade gold mineralisation in rock chip sampling at WA gold prospects

The sampling work will provide data that will aid subsequent exploration efforts to define more substantive mineralisation below the initial operations.
Ardea Resources confirms high-grade gold mineralisation in rock chip sampling at WA gold prospects
Ardea holds one of the world’s largest nickel-cobalt laterite resources in a series of deposits

Ardea Resources Ltd (ASX:ARL) has confirmed high-grade gold mineralisation in targeted sampling of altered and mineralised rocks at its outcropping, historic gold prospects in WA’s Eastern Goldfields.

Workings and exposed gold mineralisation at and around the Taurus, Windanya and Mulga Plum prospects were assessed for potential near-term, small-scale gold production.

Follow-up field work will include geological mapping, systematic sampling and shallow drilling.

 

Ardea chief executive officer Andrew Penkethman said: “The Ardea exploration team have been assessing the gold potential of Ardea’s WA tenements and continue to define compelling targets from first-phase reconnaissance work.

“I am looking forward to seeing the results from follow-up work to build upon this promising start.”

READ: Ardea Resources appointment to drive transition from nickel-cobalt explorer to producer

Highlighted rock chip results include up to 20.5 g/t gold at Windanya in quartz veins at historic workings and up to 4.27 g/t in pyrite-sericite altered rocks at Taurus.

Up to 2 g/t in altered spoil at historic workings at Mulga Plum was also sampled, among historic results of up to 50.1 g/t gold.

Ardea is examining strike extensions to these targets as well as the potential for treatment of tailings sands from historic gold stamp batteries at Windanya and Taurus.

READ: Ardea Resources upgrades cobalt-nickel resource to 100+ million tonnes

Initial reconnaissance work is the first step in assessing potential for short-term, low-volume, shallow-level mining opportunities at each site.

Such operations are common in WA and would be expected to provide Ardea several benefits including:

  • Short-term revenue;

  • Establishment of mining releationships with processors and contractors; and

  • Exposure and better understanding of gold mineralisation controls, grades and distributions at each site to aid subsequent deeper exploration.

Three-pronged value creation strategy

The company has a three-pronged value creation strategy, centred on the development of the Goongarrie Nickel-Cobalt Project which is part of the Kalgoorlie Nickel Project.

The Kalgoorlie Nickel Project is a significant series of nickel-cobalt-scandium deposits which host the largest nickel-cobalt resource in the developed world.

Ardea’s strategy also comprises advanced-stage exploration at WA gold and nickel suphide targets as well as the demerger of the company’s NSW gild ad base metal assets into new entity Godolphin Resources with in-specie share distribution.

View full ARL profile View Profile

Ardea Resources Ltd Timeline

Related Articles

gold nuggets
January 22 2019
The company has received encouraging exploration results from across its East Pilbara projects in 2018.
Bauxite on a ship
January 21 2019
The company will undertake a number of site preparation activities in the March quarter.
Argentina on a globe of the world
July 11 2019
Explorer Lake Resources has a large lithium landholding in Argentina and is focused on projects suitable for partnering or low-cost operations.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use