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Ardea Resources Limited

A Sustainable and Ethical Source of Nickel and Critical Minerals from the Kalgoorlie Nickel Project, Western Australia

Ardea Resources is a Western Australia (WA) focused developer and explorer with a clear strategy to become an integrated, ethical feedstock supplier to the Lithium Ion Battery (LIB) sector and to make gold and nickel sulphide discoveries.

Ardea is a key industry participant of the Future Battery Industry Co-operative Research Centre.

Kalgoorlie Nickel Project (KNP)

In May 2021, Ardea announced a Feasibility Study (FS) of the KNP had commenced.

The FS follows the positive Goongarrie Nickel Cobalt Project (GNCP) Pre-Feasibility Study (PFS) and Expansion Study (ES) in 2018 and resource upgrade in 2021.

With the ever-increasing nickel and cobalt demand, the 2018 studies require an upgrade to accommodate the increasing international level of Lithium Ion Battery nickel and cobalt interest.

The KNP scope has been expanded from Goongarrie alone for Goongarrie to now include high grade goethite satellite pits at Highway and Siberia North (Goongarrie Hub). The FS now includes mineralised neutraliser from Kalpini and Bulong (Kalpini Hub) and Aubils, Boyce Creek, Jump Up Dam and Lake Rebecca nontronite mineralisation (Yerilla Hub). The FS is evaluating the potential revenue contributions from scandium and Rare Earth Elements (REE) throughout the KNP.

The KNP FS programs are in parallel with a streamlining of the Ardea mineral asset portfolio through structured gold divestments.

On 16 June 2021, Ardea presented a mineral resource for the Highway deposit (part of the Goongarrie Hub), and an updated JORC 2012-compliant Mineral Resource Estimate (MRE) completed for the Goongarrie Hub (previously termed Goongarrie Nickel Cobalt Project - GNCP), including a High Grade Resource - 78 million tonnes at 1.0% nickel Sustainable Long-life Battery Metal Resource Confirmed

JORC 2012-compliant Mineral Resource Estimate (MRE) update for the Kalgoorlie Nickel Project (KNP)
Goongarrie and Highway deposits MRE based on 0.8% Ni cut-off grade Goongarrie and Highway deposits MRE based on 0.5% Ni cut-off grade KNP MRE based on 0.5% Ni cut-off grade
Measured Indicated & Inferred MRE
  • 78Mt at 1.0% Ni and 0.069% Co
  • Contained metal 784kt Ni and 54kt Co
  • 350Mt at 0.70% Ni and 0.044% Co
  • Contained metal 2.4Mt Ni and 154kt Co
  • 830Mt at 0.71% Ni and 0.046% Co
  • Contained metal 5.9Mt Ni and 384kt Co

Notes:

  • Resources include 23Mt of saprock at 0.68% Ni, 0.023% Co with 33% carbonate mineral content (as magnesite and dolomite).
  • All tonnages and grades rounded to two digit precision.
  • For more information, see ASX announcement dated 16 June 2021.

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