Ardea Resources Confirms Lily Albany Gold Discovery

THE DRILL SERGEANT: Ardea Resources (ASX: ARL) announced confirmation of the Lily Albany gold discovery at Aphrodite North, located within the company’s Goongarrie nickel-cobalt project in Western Australia.

Ardea Resources said recent RC drilling had verified gold mineralisation continuity as part of its assessment of the Goongarrie project for underlying gold mineralisation.

Eight RC drill holes were completed on three sections, returning assay results demonstrating gold mineralisation to be continuous and open.

Ardea’s second round of RC drilling confirmed shallow to deep mineralisation, indicating vertical extent of an orogenic gold system over all depths drilled, including:

10 metres at 3.55 grams per tonne gold from 40m, including 2m at 15.50g/t gold from 44m;

18m at 1.07g/t gold from 216m, including 2m at 2.45g/t gold from 218m;

10m at 1.30g/t gold from 136m, including 2m at 3.06g/t gold from 136m; and

6m at 1.68g/t gold from 246m.

“Ardea’s gold targeting under cover strategy has been shown to be effective in discovering orogenic gold mineralisation with the discovery of Lily Albany,” Ardea Resources managing director Andrew Penkethman said in the company’s announcement to the Australian Securities Exchange.

“This emerging gold discovery is only 70 kilometres northwest of the City of Kalgoorlie-Boulder and Ardea will continue to leverage off the surrounding infrastructure to accelerate its gold strategy.

“With Ardea tenements covering 65 kilometres of strike along the major gold controlling structure, the Bardoc Tectonic Zone, multiple gold targets have been defined and will continue to be systematically explored to build upon this promising start.

“The Ardea Team are also keenly awaiting assay results from other gold targets recently drilled and look forward to providing updates on these, as information becomes available.”