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Ardea Resources Ltd.
Summary
| Project: | Mount Aubrey | |
|---|---|---|
| Deposit: | Mount Aubrey | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/28/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-8-2019: Ardea Resources Ltd. announces a Resource Estimation report for its Mount Aubrey deposit at the Mount Aubrey project. Initial mineral resource estimate for project. Ardea Resources Limited (Ardea or the Company) is pleased to announce an initia | |
| Resources: | (Resource, Inf.): 1.21Mt @ 1.61g/t Au for 62.4Koz Au contained at project | |
| CP/QP: | [Resources]: Johan Lambrechts (Internal) | |
| ABSTRACT: | Ardea Resources Limited (Ardea or the Company) is pleased to announce an initial Inferred Mineral Resource estimate, following JORC Code 2012 guidelines, for its Mount Aubrey epithermal gold deposit in the Lachlan Fold Belt, central New South Wales. Ardea CEO, Andrew Penkethman commented: “The Mount Aubrey Gold Project is being vended into Godolphin Resources, Ardea’s planned IPO of its NSW gold and base metal assets. The maiden Mount Aubrey Inferred Mineral Resource is just the beginning for this project and only extends over one kilometre of a seven-kilometre epithermal vein system. With the limited drilling completed over this one kilometre only extending to an average depth of 40 metres, the mineral system is wide open and presents a compelling target for Godolphin Resources to start drilling on the day of listing.” Mount Aubrey is a 1989-91 open pit gold mine (BHP Gold) located in central western NSW (Figure 1) that was backfilled and rehabilitated as agreed with the land holder upon completion of mining of near-surface mineralisation. Historic data collated by Ardea has enabled estimation of an Inferred Mineral Resource that will serve as the platform from which future exploration and resource definition by spinout Godolphin Resources will build upon. | |
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