Ardiden (ASX:ADV) reports assay results from 16 additional exploration drillholes confirm further broad zones of gold mineralisation is present at its Pickle Lake Gold Project, located east of Red Lake in northwestern Ontario, Canada.
Recent intersections at the Dobie Prospect highlight a broad mineralisation envelope within the secondary structure that is evident within DB22-01, displaying 26.51m @ 2.1g/t Au from 77.8m downhole, with a ‘thick’ zone of 8.5m @ 4.05g/t Au.
Results from DB22-01 reported no significant assays above the cut-off grade of 0.5g/t Au.
These holes highlight the structural complexity and nature of the gold mineralisation at the Pickle Lake Gold Project with ‘high-grade’ mineralisation evident in the 2 drillholes reported.
Both holes represented mineralisation that is within a dilation zone, and potentially offset shearing while adopting a steeper plunge of the mineralisation zone in DB22-02 that requires further testing.
The Dobie Prospect’s 2 structures have an untested strike length of greater than 5km to the southeast, which represents ‘significant’ exploration potential for Ardiden.
Shallow intercepts also displayed in the region remain open at depth and to the northwest with over 1km to the adjoining Tonsil Prospect.
Final drill results received from DR-22-02 further strengthens Ardiden’s understanding of the secondary structure and broad mineralisation zone at the Dorothy Prospect.
DR-22-02 intersected a ‘broad’ mineralisation zone zone of 38.48m containing 0.97g/t Au from 50.52m downhole, along with 2.48m @ 3.40g/t Au from 50.52m downhole.
Anomalous gold values were present between 50.52m down to a depth of 218m in DR22-02 along with semi massive to massive sulphides that appear out of context in Archean lode style mineralisation.
Assay results from DR22-03 reported no significant assays above the cut-off grade of 0.5g/t Au.
Results for the recent drilling at the Dorothy Prospect coincide with the historical drilling results reported across the Western Hub.
Understanding the structural controls that are driving mineralisation remains the key priority as the Company continues to develop and unlock the exploration potential at the Dorothy Prospect.
Drilling at the Tonsil Prospect confirmed the shallow ‘high-grade’ gold mineralisation, which intersected 0.86m containing 62.8g/t Au from 115m, along with 0.73m @ 0.64g/t Au from 49.73m in DD22-02.
Further key results reported from the Tonsil prospect included DR22-05 with 0.45m @ 1.48g/t Au from 84.40m downhole, DDR22-13 with and 0.50m @3.21g/t Au from 60m downhole and, DD22-14A intercepted 0.50m @ 8.68g/t Au from 64.62m downhole.
Results from DD22-9/12 returned non-significant values that are below 0.5g/t Au.
The Tonsil Prospect has confirmed the prospectivity of this region with the primary structure consistent to that of the Golden Patricia zone with shallow ‘high-grade’ mineralisation.
Targeting has already commenced on the secondary structure, along strike from the Tonsil Prospect, and at depth to understand the exploration potential and key factors of mineralisation.
Two drillholes are reported at the Esker Prospect with WP22-13 intersecting 0.5m @ 0.74g/t Au from 67.5m downhole, 0.5m @ 0.78g/t Au from 71.27m downhole and 0.5m @ 0.68g/t Au from 73.50m downhole WP22-14 intercepted results below the 0.5g/t Au cut-off grade with both holes displaying anomalous gold mineralisation to further add to the Company’s geological model and targeting.
Ardiden Exploration Manager Haydn Daxter said the results confirm its targeting strategy along the Golden Patricia trend.
“These results confirm our targeting strategy along the Golden Patricia trend and supports our broader vision for what we anticipate at Pickle Lake as we better understand the controls of gold mineralisation and work towards opportunities to make significant discoveries.
“These new results allow us to build confidence around our geological models.
“The remaining 11 completed holes from the Western Hub drill program are expected to be reported in October as final assays arrive from Canada and are analysed.
“These results confirm our targeting strategy along the Golden Patricia trend and supports our broader vision for what we anticipate at Pickle Lake”
“The team are extremely pleased that work permits are being awarded to the Company without delay which is built largely on Ardiden’s regular consultation with First Nation groups and other stakeholders across the area, and our willingness to accommodate cultural and seasonal traditions in designing our work activities across the expansive gold project.
“Ardiden now has a large choice of areas to work, and we are continually pursuing opportunities to engage with local services and labour as part of our ESG initiatives in Ontario, Canada.”.
Other non-gold assets include Ardiden free carried 20% Lithium Projects interest in a joint venture with Green Technology Metals (ASX:GT1) including 13m shares with a current value approximately $10.1m.
GT1 have recently announced the commencement of drilling at the Root Lithium Project located 40km southwest of Ardiden’s Pickle Lake Gold Project.
Ardiden is focused on systematic gold exploration at its Pickle Lake Gold Project in the well-endowed Uchi Geological Subprovince of north-west Ontario, Canada.
The Company’s 1,088km-square District-Scale Gold Project is the largest continuous gold land holding in the Uchi Belt, where Barrick, Newmont Kinross and Evolution all hold significant gold mine and exploration assets.
Pickle Lake produced over 3Moz of gold up to 1997 and has remained vastly under-explored since.
Ardiden’s strategic landholdings is situated on the same geological belt as Red Lake, the ‘Uchi’ Subprovince, which has produced over 30Moz of gold to date and where new Tier-1 gold discoveries are still being made, such as Great Bear Resources’ Dixie Project, which is now under new ownership following the successful CAD $1.6 billion acquisition by Kinross.
In addition to its Gold Project, Ardident’s free carry is until the earlier completion of a positive Bankable Feasibility Study or a GT1 Decision to Mine.
In addition, under the JV, each party retains take-off and marketing rights to some of the percentage as their respective JV interests.
Ardiden also owns approximately 13 millions shares GT1 currently valued at around $10.1 million.
Images: Ardiden Ltd
