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Ardea Resources Ltd.
Summary
| Project: | Lewis Ponds | |
|---|---|---|
| Deposit: | Lewis Ponds | |
| Location: | Australia | |
| Commodities: | Zinc-Gold-Silver-Lead-Copper | |
| Date: | 5/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 5-5-2017: Ardea Resources Ltd. announces an Exploration/Drilling Update report for its Lewis Ponds deposit at the Lewis Ponds project. Drilling results incl. 60.88m @ 1.54% Zn, 0.33g/t Au, 26.7g/t Ag, 0.54% Pb, 0.10% Cu from 110.35m. 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 (Figure 1) from the final two “metallurgical” core holes at Lewis Ponds in NSW. The successful identification of this gold, silver, zinc and lead mineralisation confirms the Company’s development model that the Lewis Ponds deposit has affinities with the major deposits of the Lachlan Fold Belt region (in terms of its bulk tonnage potential). With all drill results received, feasibility study metallurgical program starts on a potential open pit bulk tonnage zinc-gold-silver operation. The purpose of Ardea’s initial Lewis Ponds drilling was to develop geological, mining and processing models. In historic work, clear stringer mineralised drill core was often not sampled or key elements not assayed. Additionally, drill core on site is too oxidised to be used in metallurgical test-work. The current program was thus required to establish a platform for the Lewis Ponds feasibility programs. The initial four Ardea core holes at Lewis Ponds have entirely validated the bulk tonnage development model, looking at a potential open pit to a depth of 200 metres. Within this conceptual Lewis Ponds pit design, the Stringer Zone measures 25-50 m horizontal width, dipping 70-90° east. The western ore contact largely follows the western pit batter, which has a favourable impact on strip ratio. There is around 30 m vertical of surface depletion. Mineralisation is bi-modal, with higher grade lenses suited to selective mining averaging 3.5 % Zn equiv. These are diluted by sub-grade internal waste grading 0.5-1.0 % Zn equiv., for a bulk grade of 2.8 % Zn equiv. The mineralisation style is entirely suited to selective open pit mining, with ore grades associated with dark pyrite-chlorite and internal waste variously light grey mudstone or white limestone. | |
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