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Ardea Resources Ltd.
Summary
| Project: | Lewis Ponds | |
|---|---|---|
| Deposit: | Lewis Ponds | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Lead-Copper | |
| Date: | 4/26/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 26-4-2017: Ardea Resources Ltd. announces an Exploration/Drilling Update report for its Lewis Ponds deposit at the Lewis Ponds project. Drilling results incl. 16.40m @ 4.73% Zn, 0.86g/t Au, 75.9g/t Ag, 1.44% Pb, 0.19% Cu from 43.60m. Ardea Resources Limit | |
| Resources: | (Resource, I+I): 6.62Mt @ 2.4% Zn, 1.5g/t Au, 69g/t Ag, 1.4% Pb, 0.2% Cu at project | |
| CP/QP: | [Overall Report]: Ian Buchhorn (Internal) | |
| ABSTRACT: | Ardea Resources Limited (ASX: ARL, “Ardea” or “the Company”) is pleased to announce extensive broad scale intercepts of base- and precious-metal mineralisation (e.g. Figure 1) from the first two drillholes at Lewis Ponds in NSW. The successful identification of this gold, silver, zinc and lead mineralisation confirms the Company’s hypothesis that the Lewis Ponds deposit is more like the major deposits of the Lachlan Fold Belt region (in terms of its bulk tonnage potential) than has been previously recognised. Results are presented for the first two diamond drill holes drilled by Ardea at Lewis Ponds in March 2017. Lewis Ponds is a zinc-gold-silver(-lead-copper) deposit in the Lachlan Fold Belt of NSW (Figure 2). The belt is host to numerous major bulk tonnage gold and base metal mines. Of particular note is that the major deposits at Northparkes and Cadia are hosted within or adjacent to the Lachlan Transverse Zone (LTZ), a west-northwest trending lineament that is thought to represent a fundamental crustal weakness that corresponds to major mineralisation. Several of Ardea’s projects, including notably Lewis Ponds, are located within the LTZ. Drill holes ALD0001 and ALD0002 (Table 1) are the northern two holes of the recent drill program aimed at generating material for Lewis Ponds metallurgical test-work. These holes filled gaps in the distribution of the extensive historic drilling and were designed primarily to provide material for metallurgical testwork as well as generate data in gaps in the database. | |
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