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Ardea Resources Ltd.

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Summary

Project:

KNP

Deposit:Kalpini
Location:Australia
Commodities:Cobalt-Nickel-Scandium-Chromium
Date:6/22/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:22-6-2017: Ardea Resources Ltd. announces an Exploration/Drilling Update report for its Kalpini deposit at the KNP project. Drilling results incl. 26m @ 0.12% Co, 0.90% Ni from 18.0m. Ardea Resources Limited (ASX: ARL, “Ardea” or “the Company”) is pleased
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Ian Buchhorn, Matthew Painter (Internal)
ABSTRACT:Ardea Resources Limited (ASX: ARL, “Ardea” or “the Company”) is pleased to announce that drill results have been received for the recent Reverse Circulation (RC) drilling program at the Kalpini system of deposits (Figure 1). Initial results combined with plentiful historic data show that Kalpini contains significant nickel and cobalt deposits that require detailed assessment in order to bring them into the KNP Cobalt Zone Pre-Feasibility Study. Historically, cobalt and nickel mineralisation at Kalpini has been identified over an approximate 30 km strike length (Figure 1). Thick intercepts of mineralisation are evident at numerous localities and these have contributed to the historic Inferred Mineral Resource at Kalpini of 75.0 Mt at 0.044 % cobalt and 0.73 % nickel. (see the Ardea Resources Prospectus p.86 for further details). The current drill program aimed to infill and characterise some of the lesser drilled areas between the defined deposits at Kalpini. The discovery of scandium at Kalpini is significant, but data is presently limited. Prior to Ardea’s tenure, scandium had not been assayed, so its distributions relative to the higher-grade cobalt-nickel mineralisation at Kalpini are currently unknown. As at Ardea’s other recent scandium discovery, Black Range (to the west), Kalpini is host to significant scandium mineralisation within the laterite profile. If these occurrences were to be considered as stand- Cobalt, Nickel, & Scandium Results from Kalpini 6 alone deposits, the abundances of scandium could be problematic. However, the concentrations recorded could contribute as a supplementary payable commodity to the economics of any bulk-tonnage cobaltnickel open pit operations at Kalpini.

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