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Ardea Resources Ltd.
Summary
| Project: | KNP | |
|---|---|---|
| Deposit: | Black Range, Scotia Dam | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel | |
| Date: | 8/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 28-8-2017: Ardea Resources Ltd. announces a Resource Estimation report for its Black Range, Scotia Dam deposit at the KNP project. Remodelling of deposits provides more accurate resources for Black range and Scotia Dam. New cobalt and nickel modelling at | |
| Resources: | (Resource, I+I): 19.22Mt @ 0.09% Co, 0.68% Ni for 17.8kt Co, 130.7kt Ni contained at Black Range | |
| CP/QP: | [Resources]: Stephen Hyland (HGMC Consultants) | |
| ABSTRACT: | New cobalt and nickel modelling at Black Range and Scotia in the KNP Cobalt Zone provides significantly more accurate models of mineralisation distributions that will be critical for use in projected mining schedules for the ongoing Pre-Feasibility Study. The current Black Range data relates only to M24/757. A resource report including the contiguous mineralisation on P24/4395, 4396, 4400-4403 focussing on platinum and palladium mineralisation is being finalised. The new updated resource for the total KNP Cobalt Zone (including previously reported resources for the Goongarrie South and Big Four areas) now stands at 64.4 Mt at 0.13 % cobalt and 0.77 % nickel (reported using 0.08 % cobalt lower cut-off generally, and a 0.5 % nickel cut-off at Black Range, see Table 1 below for breakdown). The KNP Cobalt Zone is the higher-grade, cobalt-focused portion of the full KNP resource which remains unchanged. Cobalt-nickel mineralisation at Black Range is nearly continuous over nearly 4 km of strike using a 0.5 % nickel grade shell (Figure 3). For Black Range, the 0.50% nickel cut-off was retained as the reporting lower cut-off which is the same as was used in previous estimates for the deposit. This is different to the other constituent deposits of the KNP Cobalt Zone where a cobalt cut-off is used. The style of mineralisation at Black Range is different to elsewhere in the KNP Cobalt Zone. Here, the substrate is a “bronzite” lithology at the ultramafic-mafic contact within the Ora Banda Layered Intrusive Complex. In the remainder of the KNP, the parental rocks are komatiite lava flows of the Walter Williams Formation. Extensive scandium, platinum group element and chromium mineralisation are documented in the upper regolith at Black Range, and these are best incorporated by using the nickel resource and reported from a nickel lower cut-off basis rather than a cobalt cut-off. | |
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