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Ardea Resources Ltd.
Summary
| Project: | Lewis Ponds | |
|---|---|---|
| Deposit: | Lewis Ponds | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Lead-Copper | |
| Date: | 9/3/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 3-9-2019: Ardea Resources Ltd. announces a Resource Estimation report for its Lewis Ponds deposit at the Lewis Ponds project. Updated mineral resource estimate for project. Ardea Resources Limited (Ardea or the Company) is pleased to announce a new JORC 2 | |
| Resources: | (Resource, I+I): 20.24Mt @ 0.5g/t Au, 33.3g/t Ag, 1.5% Zn, 0.7% Pb, 0.1% Cu | |
| CP/QP: | [Resources]: Johan Lambrechts (Internal) | |
| ABSTRACT: | Ardea Resources Limited (Ardea or the Company) is pleased to announce a new JORC 2012 Indicated and Inferred Mineral Resource estimate, for its Lewis Ponds gold-silver-zinc-lead-copper deposit near Orange, NSW. Open pit and underground resources (Indicated and Inferred) are defined as follows. The Ardea development strategy for Lewis Ponds is predicated upon a bulk tonnage disseminated precious and base metal operation aiming to exploit multiple mineralised sites. A modern-day camp focussed approach has proven enormously successful at other Lachlan Fold Belt (LFB) mining centres such as Cadia-Ridgeway, Tomingley, and potentially McPhillamys. Along with Cowal and Northparkes elsewhere within the LFB, the production philosophy is to target bulk tonnage systems and develop longlife mines with world-competitive operating costs. Ardea CEO, Andrew Penkethman commented: “The Lewis Ponds polymetallic mineral system is regionally significant and shares similarities with other well-known and significant Lachlan Fold Belt bulk tonnage projects. This project is being vended into Godolphin Resources Limited, Ardea’s planned IPO of its NSW gold and base metal assets with Godolphin expected to expand upon the considerable resource already defined at Lewis Ponds as mineralisation is open in every direction. There has been minimal historic gold exploration done across what is clearly an excellent gold structure with multiple historic workings that hosts Lewis Ponds and the 2.3 Moz McPhillamys gold deposit 23 km SE along structure”. | |
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