THE DRILL SERGEANT: Ardiden (ASX: ADV) has expanded its landholding at the company’s Pickle Lake gold project in Ontario, Canada.
Ardiden has expanded Pickle Lake to over 500 square kilometres by staking additional highly prospective greenstone belts, which the company considers both contiguous and along strike of historical gold mines and known gold deposits.
In line with its gold exploration strategy, Ardiden has continued to stake prospective ground and negotiate opportunities that complement its land holding at Pickle Lake and create opportunities for an increase in shareholder value through its gold assets.
“The ground holding now extends over more than 100 kilometres of highly prospective Archean greenstone territory that provides us the best opportunity to make new and exciting discoveries,” Ardiden CEO Rob Longley said in the company’s announcement to the Austtralian Securities Exchange.
“What is significant about the increased landholding is the potential of the overall belt as one of the best jurisdictions in which to invest and explore for new high-grade gold deposits using modern exploration techniques and geophysical analysis – we are very excited about what the future holds.”
Ardiden has an existing high-grade 110,000 ounce inferred JORC gold Resource estimate at Pickle Lake at its Kasagiminnis Deposit (790,000 tonnes at 4.3g/t gold).
While this deposit is the target of the company’s next drilling program, aimed at progressively increasing JORC Resources, the landholding now provides multiple gold targets across a district-scale package the company believes provides for a long-term exploration pipeline of gold projects.