Initial phase of exploration set to commence at Bold Properties Project with mapping and sampling anticipated to pave the way for potential drilling
Field Mapping and Exploration Set to Commence at Newly-Optioned Cobalt-Copper-Nickel Project in Canada
Perth, May 30, 2017 AEST (ABN Newswire) - Diversified minerals explorer and developer Ardiden Limited (
ASX:ADV) is pleased to advise that it is preparing to commence the initial due diligence phase of field mapping and sampling at the prospective early-stage Bold Properties Cobalt-Copper-Nickel Project, which it secured recently under option in the established mining jurisdiction of Ontario, Canada.
HIGHLIGHTS:
- Geological team preparing to mobilise to site at Bold Properties Cobalt-Copper-Nickel Project in Ontario, Canada.
- Initial focus is to map and sample around the historical sample locations on the various prospects.
- The results will be used to validate historical drilling and sampling results. All data collected will be included in any future resource models.
Ardiden confirms that the geological teams are about to mobilise to site to the Bold Properties Project, with mapping and sampling expected to be underway by early next week.
The initial focus of this due diligence phase of the program is to map and sample around the historical sample locations on the various prospects and to obtain a better understanding of the its potential to host cobalt-copper-nickel mineralisation.
The results from this program will be used to validate historical drilling and sampling results. All data collected will be included in any future resource models.
Bold Property Project
The Bold Properties Project is an attractive early-stage exploration opportunity with several sulphide zones identified by historical exploration which returned encouraging cobalt, copper and nickel values from limited reconnaissance drilling and sampling data.
The Bold Property Project is strategically located close to existing good infrastructure, with excellent access to the growing energy storage and Electric Vehicle (EV) markets and EV manufacturers in Detroit (General Motors, Ford Motor Company and Fiat Chrysler Automobiles US) and California (Tesla).
The Bold Property Project is located approximately 50km north-east of the town of Mine Centre in Ontario, Canada. The property is connected to Highway 11 (Trans-Canada), which is located 25km south via an all-weather road. It is less than 3 hours' drive from Thunder Bay, a leading regional mining jurisdiction in Ontario with key local infrastructure including a skilled mining workforce and excellent local logistics and infrastructure. It has strong potential to provide a high-quality product to supply growing North American demand and export markets.
The Bold Property Project consists of four claims (1,024 hectares) and covers a number of anomalous sulphide zones. In 1992, Hexagon Gold (Ontario) Ltd. completed a total of 17 drill holes in multiple locations on and around the Bold Property Project at various depths of up to 428m down-hole.
The nine grab samples that were collected by Hexagon in 1992 returned encouraging grades of up to 0.33% cobalt, 5.54% copper and 0.73% nickel, confirming the significant exploration potential; however, Ardiden confirms that very little work has been completed since then.
It should be noted that the historical drill core and grab sample assay results were obtained and reviewed prior to the current CIM National Instrument 43-101 or JORC (2012) guidelines and, as such, should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical results. Further exploration and drill testing programs are required to report these results in accordance with JORC (2012) guidelines.
Ardiden looks forward to providing further updates as they come to hand.
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About Ardiden Ltd
Ardiden Limited (ASX:ADV) is an emerging international diversified exploration and development company possessing a mature multi-element asset portfolio, with a near term development pipeline, focused quality projects located in the established mining jurisdiction of Ontario, Canada.
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