September 2018 Quarterly Activities Report
Goongarrie Nickel Cobalt Project (GNCP)
- First pilot plant run successful - Goongarrie goethite ore delivers excellent performance with on-specification nickel and cobalt sulphate produced.
- Finalisation of EPA referral underway with programs for Goongarrie flora, fauna, hydrology, geotechnical design and material characterisation all underway or awaiting requisite climatic event.
- Goongarrie infill 80x40m RC drilling completed on all 1.5Mtpa pit areas, extended to 2.25Mtpa pit areas and completed.
- New resource estimation including nickel-cobalt-scandium and neutraliser with target completion Q4 2018.
- Ongoing Definitive Feasibility Study (DFS) drilling program confirms high-grade intercepts at the Pamela Jean Deeps orebody.
o AGSR419 112m at 1.30% Ni, 0.26% Co, 31g/t Sc from 30m(see Note 1 below)
o AGSD0001 100.8m at 1.00% Ni, 0.08% Co from 32m(see Note 2 below)
o AGSR0413 76m at 1.11% Ni, 0.09% Co and 38g/t Sc from 24m
o AGSR0418 56m at 1.29% Ni, 0.14% Co and 18g/t Sc 104m
o AGSR0190 57m at 1.04% Ni, 0.10% Co and 21g/t Sc from 70m
- Strategic Partner search advancing with KPMG.
WA Gold-Nickel Assets
- Mt Zephyr - structural interpretation completed defining Yamarna-style structural system with altered granitoid gold host. Drill sites selected and first drilling campaign scheduled.
Lachlan Fold Belt NSW
- Orange-based management team in place in NSW - completing full re-interpretation of Lewis Ponds ore as a bulk-tonnage system.
Cash position at end of Quarter of $15.8M, all corporate and development activity well-funded.
1 Calculated using a 0.5 % nickel cut-off, 2 m minimum intercept, and 4 m maximum internal waste
2 0.5 % nickel cut-off, 2m minimum intercept, and 4m maximum intern waste, previous report 2017 core hole
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About Ardea Resources Ltd
Ardea Resources Ltd (ASX:ARL) (OTCMKTS:ARRRF) (FRA:A91) is an Australian resources company which owns 100% of the Kalgoorlie Nickel Project (KNP), a globally significant series of nickel-cobalt laterite deposits which host the largest cobalt resource in the developed world. Ardea is focused on the development of the Goongarrie Nickel Cobalt Project (GNCP) within the KNP, 80km north of Kalgoorlie WA. Ardea has completed a Prefeasibility Study for a 1Mpta and 1.5Mtpa case on the GNCP and also a scoping study for a 2.25Mtpa case. Ardea is currently working with KPMG Australia Corporate Finance to secure a Strategic Partner to jointly develop the GNCP. Ardea also owns an extensive portfolio of projects in Western Australia and New South Wales which are highly prospective for gold, nickel sulphide and zinc.
Ardea Resources Ltd