KNP Cobalt Zone global resource updated
Read full announcement (28 August 2017)
Exceptional acid leach extraction results - KNP Cobalt Zone
Over 98% extraction of cobalt and nickel at atmospheric conditions, and KNP resource update.
- Initial KNP Cobalt Zone acid leach test work shows exceptional results on Goongarrie South run-of-mine drill core samples:
- Lab-scale atmospheric hydrochloric acid leach extracts over 98% of cobalt and nickel, and over 92% of scandium
- Genuine alternative to the costly High Pressure Acid Leach (HPAL) processing technique.
- Early stage results, with further testing current.
- Cobalt-based resource upgrades for Scotia Dam and Black Range enter final stage before completion.
- Nickel-based resource update for the entire KNP:
- 773.0 Mt at 0.05% cobalt and 0.70% nickel
- 405,000 tonnes contained cobalt, 5.46 million tonnes contained nickel
- Further updates expected as remodelling progresses.
- Lewis Ponds metallurgical testing is progressing, showing potential effectiveness of Dense Media Separation. Work is ongoing.
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
Containing 386,400 tonnes of contained cobalt metal, the KNP is Australia’s largest cobalt deposit. By this measure, it is more than three times larger than Australia’s second largest cobalt deposit. The newly-reported cobalt resource from the high-grade KNP Cobalt Zone – 64.4 Mt at 0.13% cobalt and 0.77% nickel – is a subset of the larger KNP resource, and this subset is by itself Australia’s fourth largest cobalt resource, containing 85,410 tonnes of cobalt metal. The KNP Cobalt Zone also has one of the highest cobalt grades in Australia.
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.
