Resource Update at KNP Cobalt Zone delivers over 100 million tonnes
Significant increase in resource defined in preparation for the Pre-Feasibility Study mining schedule
- An updated KNP Cobalt Zone resource has increased markedly to 108.3 Mt at 0.10 % cobalt and 0.79 % nickel
- Includes over 108,000 tonnes of contained cobalt metal and over 856,000 tonnes of nickel metal
- Increased tonnages are from Goongarrie area:
- Reflects revenue-driven cobalt and nickel focus for mining schedules defined for the PFS on the Goongarrie Nickel Cobalt Project with increased inclusion of nickel blocks
- Reported resources are captured within conceptual PFS pit shells
- Shallow, lateritic, cobalt-nickel mineralisation is up to 16 km long and 1 km wide
- PFS finalisation progressing
Targeted, intensive exploration
Ardea aim to increase shareholder value through a targeted and intensive exploration program. The Company plans to spend up to A$5 million mainly on drilling over two years on currently defined targets. A focused evaluation of each of the Company’s four leading projects to assess and rank development priorities will be undertaken.
KNP Cobalt Zone – Australia’s Premier Cobalt Resource
KNP is one of the largest cobalt deposits in the developed world: With over 700Mt of defined cobalt and nickel mineralisation, Ardea is focusing on the high-grade Cobalt Zone: 64.4Mt at 0.13% Co & 0.77% Ni (81kt Co and 495kt Ni contained metal). The Goongarrie Nickel-Cobalt Project is part of this zone. The PFS is nearing completion – for the latest click here.
Lewis Ponds Gold-Zinc Project
Bulk tonnage Exploration Target defined: Main Zone and Tom’s Zone JORC resource 6.6Mt at 1.5g/t gold and 2.4% zinc 1, strong potential to expand the tonnage, including untested up-dip surface oxide gold targets. Significant base metal-gold open-pit potential, with orogenic gold and base metal mineralisation defined which is very similar to other large deposits in the region, including Regis Resources McPhillamys 2.2Moz gold discovery located along structure 20km southeast.
9/3/17 Release – First diamond drill hole at Lewis Ponds has successfully intercepted over 50 m of massive, banded, and stringer zinc sulphide mineralisation. Drilling is ongoing.
Mt Zephyr Gold and Nickel Sulphide Project
Gale gold, associated with the domain boundary Celia Lineament, 273ppb gold in soils, 18m at 0.5g/t gold in RAB from surface to RAB refusal, no RC drilling of the central anomaly (700m x 100m RAB anomaly), geological setting comparable to the Dacian Gold Jupiter ‘syenite-hosted gold’ discovery located along structure 50km southeast. Jones Area A and B nickel sulphide, Mt Windarra ultramafic stratigraphy with discrete magnetic highs associated with ‘Silver Swan-style’ ultramafic channels, no previous RC drill testing or modern deep penetration ground and down-hole EM.
Bardoc Tectonic Zone and East Kalgoorlie Gold Projects
Big Four 6m at 8.6g/t gold historic drill-hole, open soil gold anomaly to south. Taurus 5m at 38g/t gold historic drill-hole, 50 ounces recent gold nugget discoveries.