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Ardea Resources Ltd.
Summary
| Project: | KNP | |
|---|---|---|
| Deposit: | KNP | |
| Location: | Australia | |
| Commodities: | Cobalt-Nickel-Scandium-Chromium | |
| Date: | 6/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 28-6-2017: Ardea Resources Ltd. announces a Resource Estimation report for its KNP deposit at the KNP project. Remodelling of historic data leads to an increase in KNP Cobalt Zone resource. Ardea Resources Limited (ASX: ARL, “Ardea” or “the Company”) is p | |
| Resources: | (Resource, Total): 65.7Mt @ 0.13% Co, 0.79% Ni at KNP Cobalt Zone | |
| CP/QP: | [Resources]: Stephen Hyland (HGMC Cunsultants) | |
| ABSTRACT: | Ardea Resources Limited (ASX: ARL, “Ardea” or “the Company”) is pleased to announce that remodelling of the Goongarrie South and Big Four areas of the KNP Cobalt Zone to focus on cobalt mineralisation has been completed. The remodelling, which uses historical drill data but applies cobalt cut-offs (as opposed to nickel cut-offs used for all previous modelling work), has resulted in substantial increases in the tonnage and grade of the cobalt resource. These new resources estimates are defined based on a complete remodelling of historic data. This was done by stripping back to original drill holes and assays and constructing new triangulations and cobalt grade shells. These new cobalt grade shells more accurately represent the distributions of cobalt mineralisation. Earlier cobalt estimates relied on cobalt distributions within nickel grade shells. In comparison to the new cobalt grade shells, the nickel grade shells were thicker and more irregular in shape, and incorporated broad zones of little cobalt mineralisation along with the higher-grade zones. Additionally, the new cobalt grade shells are more extensive and incorporate additional cobalt intercepts that weren’t part of earlier estimates. Several new high-grade zones have thus been identified. Further upgrades to the KNP Cobalt Zone resource are expected as remodelling of the constituent deposits beyond Goongarrie South and Big Four using cobalt-only cut-offs continues. This new resource represents mineralisation that is potentially mineable by open pit. A pit optimisation model, which uses various high-level parameters such as current and forecast economic data, proposed production rates, and forecast production costs, portrays several realistic economic models to define conceptual pit designs. The pit optimisation model used here is very much a preliminary one that will be fully optimised during the course of the PFS and will be published on completion of the study. | |
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