Ardea Resources Identifies Gold at Goongarrie Nickel Cobalt Project

THE DRILL SERGEANT: Ardea Resources (ASX: ARL) completed a first-pass gold exploration program at the Big Four prospect, part of the company’s Goongarrie nickel cobalt project in Western Australia.

Ardea Resources completed 265 aircore holes for 4,861 metres at the Big Four prospect, which it said had confirmed gold mineralisation at the company’s Big Four gold mine and historic gold prospects at Zeus and Dionysus, as well as identifying numerous new anomalies.

Results of the recent Big Four drilling include:

6 metres at 2 grams per tonne gold from surface to end of hole (EOH);

24m at 0.8g/t gold from 12m;

12m at 0.3g/t gold from 78m to EOH;

6m at 0.4g/t gold from 42m, and 18m at 0.1g/t gold from 66m to EOH; and

4m at 0.3g/t gold from 6m to EOH.

“The stacking of the nickel-cobalt-scandium laterite mineralisation upon the gold being located in the crustal-scale Bardoc Tectonic Zone appears to be globally and geologically unique,” Ardea Resources CEO Andrew Penkethman said in the company’s announcement to the Australian Securities Exchange.

“The extent and strength of gold anomalism as a conceptual target is exceptional.

“Though much work remains to define the full gold potential, the possibility of multiple revenue streams from nickel, cobalt, scandium and gold at Goongarrie is tantalising.

“Forthcoming integrated drilling programs to define gold resources will complement and potentially add significant value to the economics of our flagship Goongarrie nickel cobalt project.”