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Ardea Resources Ltd.
Summary
| Project: | KNP | |
|---|---|---|
| Deposit: | Goongarie | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel-Scandium | |
| Date: | 10/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-10-2018: Ardea Resources Ltd. announces an Exploration/Drilling Update report for its Goongarie deposit at the KNP project. Drilling results incl. 112.0m @ 1.30% Ni, 0.26% Co, 31g/t Sc from 30.0m. Recent drilling results from the Pamela Jean Deeps confi | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Ian Buchhorn (Internal) | |
| ABSTRACT: | Recent drilling results from the Pamela Jean Deeps confirm and extend the deeper high-grade mineralization. This zone is scheduled as the mining target during the payback period, to enhance project economics. The current Pamela Jean Deeps drilling was initially executed as a precursor to a geotechnical program, but has generated new insights into Goongarrie geological models, geo-metallurgy and geotechnics. The 2018 Ardea drilling at Goongarrie, and Pamela Jean in particular, is restricted to 80x40m infill of proposed pit locations where existing 80x80m drill patterns define the current Indicated Mineral Resource (refer ASX announcement 14 March 2018 for current resource statement). Being infill drilling during 2018, changes to the overall Mineral Resources are expected to be non-material. Of note, historical geological interpretations for the run-of-mine “shallow flat” lateritic mineralization have been precisely confirmed by 2018 drilling, suggesting robust QAQC for historic Goongarrie drilling. The recent Pamela Jean Deeps drilling has been different to earlier 2018 drilling, in that the inclined holes (first time executed anywhere at Goongarrie) have quantified deep “funnel-shaped” ore zones, especially in respect to structural controls on deep ore. Importantly, “deep funnel” mineralization has been defined (notably by drill-hole AGSR0190 section 6669760mN) where previous drilling only had “shallow flat” ore. Historic hole GSRC0184 (323096mE) returned 22m at 0.58% Ni and 0.03% Co from 17m and GSRC1005 (323140mE) returned 35m at 0.82% Ni and 0.11% Co from 28m. Ardea RC drill-hole AGSR0190 (323116mE) between the two returned 91m at 0.92% Ni and 0.07% Co from 36m (stops in ore), and in addition intersected a previously unrecognized dyke dipping 650 east that fingerprints the “deep funnel” | |
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