Goongarrie Nickel-Cobalt Project ARL 100%
The Goongarrie Nickel-Cobalt Project is Ardea’s flagship project. The 100% owned GNCP is part of the largest Nickel Cobalt Resource in the developed world. Goongarrie is located in the tier-one mining jurisdiction of Kalgoorlie, which offers world-class infrastructure in an established mining hub.
Goongarrie is a globally significant, readily scalable project, which is being developed to become a long-term producer of high-quality nickel-cobalt sulphate.
Ardea is positioning Goongarrie to be a supplier of high-purity nickel and cobalt sulphate to the lithium ion battery market as the automotive electrification revolution continues to rapidly grow. The electric vehicle market is expected to account for 14% of new car sales by 2025, whilst the cobalt sulphate market is forecasted to reach US$9.5 billion by 2025.
Increased demand for cobalt sulphate is driven by the higher energy density it provides to both electric vehicle and energy storage system batteries.
On 15 February 2021, Ardea presented an updated JORC 2012-compliant Mineral Resource Estimate (MRE) completed for the Goongarrie Nickel Cobalt Project (GNCP), including a GNCP High Grade Resource - 60 million tonnes at 1.0% nickel Sustainable Long-life Battery Metal Resource Confirmed
GNCP based on 0.8% Ni cut‑off grade | GNCP based on 0.5% Ni cut‑off grade | KNP based on 0.5% Ni cut‑off grade | |
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Measured Indicated & Inferred MRE |
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Notes:
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The GNCP R&D product studies and resource update is the culmination of 12 months’ work and demonstrates that the GNCP is one of the largest and most strategic nickel-cobalt deposits in the developed world.
With the GNCP located 70km north of the City of Kalgoorlie-Boulder and the 25km long line of resources on granted mining leases, the project is strategically positioned to provide sustainable and ethical mineral supply in the premier mining jurisdiction in the world, Western Australia.
Most importantly for future project development, using a 0.8% nickel cut‑off grade, the MRE is 60 million tonnes at 1% nickel with strong cobalt, scandium and aluminium credits. This is a significant project advancement.
The Company is targeting leach feed grades to a 2Mtpa High Pressure Acid Leach (HPAL) plant exceeding 1% nickel for 25 years. Ardea uniquely within Australian laterites has resource optionality due to the large size and exceptional quality of the KNP resources for mine high grading and selective recovery of key geo-metallurgical mineralisation types.
The GNCP also has significant manganese credits and thus has potential for Precursor Cathode Active Material (PCAM) for use in lithium-ion batteries (LIB). Of significance, the nickel-cobalt-manganese for use in NCM811 cathodes - 8 parts nickel, 1 part cobalt and 1 part manganese – approximates the KNP in-ground metal ratio.
Resource
Deposit | Resource Category | Tonnes (Mt) | Ni (%) | Co (%) | Contained Metal | Sc Resources | ||
---|---|---|---|---|---|---|---|---|
Ni (kt) | Co (kt) | Mt | Sc (ppm) | |||||
Goongarrie Hill | Indicated | 5.3 | 0.92 | 0.050 | 49 | 2.6 | 2.4 | 17 |
Inferred | 1.9 | 0.92 | 0.034 | 17 | 0.6 | 0.4 | 16 | |
Subtotal | 7.2 | 0.92 | 0.046 | 66 | 3.3 | 2.8 | 17 | |
Goongarrie South | Measured | 11.0 | 1.13 | 0.106 | 125 | 11.6 | 11.0 | 39 |
Indicated | 21.1 | 0.99 | 0.071 | 208 | 15.0 | 15.5 | 25 | |
Inferred | 1.2 | 0.92 | 0.043 | 11 | 0.5 | 0.5 | 25 | |
Subtotal | 33.3 | 1.03 | 0.081 | 344 | 27.1 | 27.0 | 31 | |
Big Four | Indicated | 12.1 | 0.97 | 0.068 | 118 | 8.3 | 8.9 | 27 |
Inferred | 2.7 | 0.94 | 0.062 | 25 | 1.7 | 0.5 | 27 | |
Subtotal | 14.7 | 0.97 | 0.067 | 143 | 9.9 | 9.4 | 27 | |
Scotia Dam | Indicated | 2.9 | 0.98 | 0.108 | 29 | 3.2 | 2.9 | 28 |
Inferred | 1.4 | 1.02 | 0.057 | 14 | 0.8 | 0.0 | 26 | |
Subtotal | 4.3 | 0.99 | 0.091 | 43 | 4.0 | 2.9 | 28 | |
GNCP Total | Measured | 11.0 | 1.13 | 0.106 | 125 | 11.6 | 11.0 | 39 |
Indicated | 41.5 | 0.97 | 0.070 | 404 | 29.0 | 29.7 | 25 | |
Inferred | 7.1 | 0.95 | 0.051 | 67 | 3.6 | 1.4 | 23 | |
Grand Total | 59.6 | 1.00 | 0.074 | 595 | 44.3 | 42.2 | 29 |
Deposit | Resource Category | Tonnes (Mt) | Ni (%) | Co (%) | Contained Metal | Sc Resources | ||
---|---|---|---|---|---|---|---|---|
Ni (kt) | Co (kt) | Mt | Sc (ppm) | |||||
Goongarrie Hill | Indicated | 40 | 0.65 | 0.037 | 260 | 14.7 | 10.5 | 16 |
Inferred | 29 | 0.60 | 0.025 | 178 | 7.3 | 2.0 | 16 | |
Subtotal | 69 | 0.63 | 0.032 | 438 | 21.9 | 12.5 | 16 | |
Goongarrie South | Measured | 18 | 0.94 | 0.085 | 172 | 15.4 | 18.2 | 40 |
Indicated | 82 | 0.71 | 0.049 | 587 | 40.2 | 53.1 | 23 | |
Inferred | 10 | 0.64 | 0.033 | 61 | 3.1 | 5.5 | 24 | |
Subtotal | 110 | 0.75 | 0.053 | 820 | 58.7 | 76.8 | 27 | |
Big Four | Indicated | 49 | 0.71 | 0.047 | 345 | 22.9 | 31.9 | 24 |
Inferred | 14 | 0.68 | 0.043 | 95 | 6.1 | 2.9 | 24 | |
Subtotal | 63 | 0.70 | 0.046 | 440 | 28.9 | 34.8 | 24 | |
Scotia Dam | Indicated | 12 | 0.71 | 0.065 | 82 | 7.4 | 11.2 | 25 |
Inferred | 5 | 0.72 | 0.043 | 37 | 2.2 | 0.6 | 22 | |
Subtotal | 17 | 0.72 | 0.058 | 118 | 9.6 | 11.7 | 25 | |
GNCP Total | Measured | 18 | 0.94 | 0.085 | 172 | 15.4 | 18.2 | 40 |
Indicated | 182 | 0.70 | 0.047 | 1,274 | 85.1 | 106.6 | 23 | |
Inferred | 58 | 0.64 | 0.032 | 371 | 18.6 | 11.0 | 23 | |
Grand Total | 259 | 0.70 | 0.046 | 1,817 | 119.2 | 135.8 | 25 |
Camp | Prospect | Resource Category | Size (Mt) | Ni (%) | Co (%) | Contained Metal | Estimation Details | |||
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Ni (kt) | Co (kt) | Method | Source | Year | ||||||
Goongarrie | Goongarrie South | Measured | 18 | 0.94 | 0.085 | 171 | 15 | LUC | Ardea | 2021 |
Indicated | 82 | 0.71 | 0.049 | 584 | 40 | LUC | Ardea | 2021 | ||
Inferred | 10 | 0.64 | 0.033 | 61 | 3 | LUC | Ardea | 2021 | ||
Highway | Indicated | 53 | 0.66 | 0.042 | 349 | 22 | OK | Heron | 2009 | |
Inferred | 34 | 0.64 | 0.038 | 218 | 13 | OK | Heron | 2009 | ||
Ghost Rocks | Inferred | 47 | 0.66 | 0.042 | 312 | 20 | OK | Snowden | 2004 | |
Goongarrie Hill | Indicated | 40 | 0.65 | 0.037 | 259 | 15 | LUC | Ardea | 2021 | |
Inferred | 29 | 0.60 | 0.025 | 176 | 7 | LUC | Ardea | 2021 | ||
Big Four | Indicated | 49 | 0.71 | 0.047 | 346 | 23 | LUC | Ardea | 2021 | |
Inferred | 14 | 0.68 | 0.043 | 96 | 6 | LUC | Ardea | 2021 | ||
Scotia | Indicated | 12 | 0.71 | 0.065 | 82 | 7 | LUC | Ardea | 2021 | |
Inferred | 5 | 0.72 | 0.043 | 37 | 2 | LUC | Ardea | 2021 | ||
Goongarrie Subtotal | Measured | 18 | 0.94 | 0.085 | 171 | 15 | ||||
Indicated | 235 | 0.69 | 0.046 | 1,620 | 108 | |||||
Inferred | 140 | 0.65 | 0.037 | 900 | 52 | |||||
Combined | 393 | 0.68 | 0.044 | 2,692 | 175 | |||||
Siberia | Siberia South | Inferred | 81 | 0.65 | 0.033 | 523 | 27 | OK | Snowden | 2004 |
Siberia North | Indicated | 10 | 0.64 | 0.051 | 64 | 5 | OK | Snowden | 2009 | |
Inferred | 53 | 0.66 | 0.043 | 352 | 23 | OK | Snowden | 2009 | ||
Black Range | Indicated | 9 | 0.67 | 0.090 | 62 | 8 | OK | HGMC | 2017 | |
Inferred | 10 | 0.69 | 0.100 | 68 | 10 | OK | HGMC | 2017 | ||
Siberia Subtotal | Indicated | 19 | 0.65 | 0.070 | 126 | 13 | ||||
Inferred | 144 | 0.66 | 0.041 | 943 | 59 | |||||
Combined | 163 | 0.66 | 0.045 | 1,070 | 73 | |||||
KNP WEST TOTAL | Measured | 18 | 0.94 | 0.085 | 171 | 15 | ||||
Indicated | 255 | 0.69 | 0.048 | 1,747 | 121 | |||||
Inferred | 283 | 0.65 | 0.039 | 1,844 | 111 | |||||
Combined | 556 | 0.68 | 0.045 | 3,761 | 248 | |||||
Bulong | Taurus | Inferred | 14 | 0.84 | 0.051 | 119 | 7 | OK | Snowden | 2007 |
Bulong East | Indicated | 16 | 1.06 | 0.055 | 169 | 9 | OK | Snowden | 2004 | |
Inferred | 24 | 0.79 | 0.053 | 190 | 13 | OK | Snowden | 2004 | ||
Bulong Subtotal | Indicated | 16 | 1.06 | 0.055 | 169 | 9 | ||||
Inferred | 38 | 0.81 | 0.052 | 309 | 20 | |||||
Combined | 54 | 0.88 | 0.053 | 477 | 29 | |||||
Hampton | Kalpini | Inferred | 75 | 0.73 | 0.044 | 550 | 33 | OK | Snowden | 2004 |
Hampton Subtotal | Inferred | 75 | 0.73 | 0.044 | 550 | 33 | ||||
KNP EAST TOTAL | Indicated | 16 | 1.06 | 0.055 | 169 | 9 | ||||
Inferred | 114 | 0.76 | 0.047 | 859 | 53 | |||||
Combined | 130 | 0.79 | 0.048 | 1,028 | 62 | |||||
Yerilla | Jump Up Dam | Measured | 4 | 0.94 | 0.048 | 36 | 2 | OK | Snowden | 2008 |
Indicated | 42 | 0.78 | 0.043 | 324 | 18 | OK | Snowden | 2008 | ||
Inferred | 18 | 0.63 | 0.034 | 116 | 6 | OK | Snowden | 2008 | ||
Boyce Creek | Indicated | 27 | 0.77 | 0.058 | 206 | 16 | OK | Snowden | 2009 | |
Aubils | Inferred | 49 | 0.70 | 0.066 | 346 | 33 | OK | Heron | 2008 | |
KNP YERILLA TOTAL | Measured | 4 | 0.94 | 0.048 | 36 | 2 | ||||
Indicated | 68 | 0.78 | 0.049 | 531 | 33 | |||||
Inferred | 68 | 0.68 | 0.057 | 462 | 39 | |||||
Combined | 140 | 0.73 | 0.053 | 1,028 | 74 | |||||
KNP TOTAL | Measured | 22 | 0.94 | 0.079 | 207 | 17 | ||||
Indicated | 339 | 0.72 | 0.048 | 2,446 | 163 | |||||
Inferred | 465 | 0.68 | 0.044 | 3,165 | 203 | |||||
GRAND TOTAL | Combined | 826 | 0.70 | 0.046 | 5,817 | 384 | ||||
Legend: LUC – Local Uniform Conditioning; OK – Ordinary Kriging |
Deposit | Resource Category | Tonnes (Mt) | Ni (%) | Co (%) | Contained Metal | Sc Resources | ||
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Ni (kt) | Co (kt) | Mt | Sc (ppm) | |||||
Goongarrie Hill | Indicated | 1.0 | 1.11 | 0.061 | 12 | 0.6 | 0.6 | 17 |
Inferred | 0.3 | 1.11 | 0.039 | 4 | 0.1 | 0.1 | 14 | |
Subtotal | 1.4 | 1.11 | 0.055 | 15 | 0.8 | 0.7 | 17 | |
Goongarrie South | Measured | 6.9 | 1.28 | 0.125 | 88 | 8.6 | 6.9 | 39 |
Indicated | 7.5 | 1.17 | 0.090 | 88 | 6.8 | 5.7 | 25 | |
Inferred | 0.2 | 1.11 | 0.049 | 3 | 0.1 | 0.1 | 26 | |
Subtotal | 14.6 | 1.22 | 0.106 | 178 | 15.5 | 12.7 | 33 | |
Big Four | Indicated | 3.9 | 1.16 | 0.089 | 46 | 3.5 | 3.1 | 28 |
Inferred | 0.6 | 1.13 | 0.088 | 7 | 0.5 | 0.2 | 29 | |
Subtotal | 4.5 | 1.15 | 0.089 | 52 | 4.0 | 3.2 | 28 | |
Scotia Dam | Indicated | 1.0 | 1.16 | 0.148 | 12 | 1.5 | 1.0 | 29 |
Inferred | 0.7 | 1.17 | 0.067 | 8 | 0.4 | 0.0 | 20 | |
Subtotal | 1.7 | 1.16 | 0.116 | 19 | 1.9 | 1.0 | 29 | |
GNCP Total | Measured | 6.9 | 1.28 | 0.125 | 88 | 8.6 | 6.9 | 39 |
Indicated | 13.5 | 1.16 | 0.092 | 156 | 12.4 | 10.3 | 26 | |
Inferred | 1.8 | 1.14 | 0.067 | 21 | 1.2 | 0.4 | 24 | |
Grand Total | 22.2 | 1.20 | 0.100 | 265 | 22.2 | 17.6 | 31 |
Deposit | Resource Category | Tonnes (Mt) | Sc (ppm) | Ni (%) | Co (%) | Contained Metal | ||
---|---|---|---|---|---|---|---|---|
Sc (kt) | Ni (kt) | Co (kt) | ||||||
Goongarrie Hill | Indicated | 2.5 | 25 | 0.73 | 0.052 | 0.06 | 19 | 1.3 |
Inferred | 0.6 | 24 | 0.67 | 0.050 | 0.01 | 4 | 0.3 | |
Subtotal | 3.1 | 25 | 0.72 | 0.052 | 0.08 | 23 | 1.6 | |
Goongarrie South | Measured | 16.7 | 42 | 0.96 | 0.086 | 0.70 | 160 | 14.4 |
Indicated | 28.6 | 31 | 0.77 | 0.066 | 0.89 | 220 | 18.9 | |
Inferred | 2.8 | 37 | 0.64 | 0.035 | 0.10 | 18 | 1.0 | |
Subtotal | 48.2 | 35 | 0.83 | 0.071 | 1.69 | 399 | 34.3 | |
Big Four | Indicated | 16.0 | 35 | 0.77 | 0.063 | 0.56 | 123 | 10.0 |
Inferred | 1.4 | 36 | 0.72 | 0.057 | 0.05 | 10 | 0.8 | |
Subtotal | 17.3 | 35 | 0.77 | 0.062 | 0.61 | 133 | 10.8 | |
Scotia Dam | Indicated | 5.5 | 36 | 0.75 | 0.091 | 0.20 | 42 | 5.1 |
Inferred | 0.2 | 36 | 0.62 | 0.036 | 0.01 | 1 | 0.1 | |
Subtotal | 5.8 | 36 | 0.75 | 0.089 | 0.21 | 43 | 5.1 | |
GNCP Total | Measured | 16.7 | 42 | 0.96 | 0.086 | 0.70 | 160 | 14.4 |
Indicated | 52.7 | 33 | 0.77 | 0.067 | 1.71 | 403 | 35.3 | |
Inferred | 5.0 | 35 | 0.66 | 0.043 | 0.18 | 33 | 2.1 | |
Grand Total | 74.4 | 35 | 0.80 | 0.070 | 2.59 | 597 | 51.9 |
For more detail and explanatory discussion, see ASX announcement dated 15 February 2021.
(February 2021)