Ardiden (ASX:ADV) - CEO & Managing Director, Rob Longley
CEO & Managing Director, Rob Longley
Source: The Pick Magazine
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  • Ardiden (ADV) has discovered multiple tier-1 large-scale structural targets at its New Patricia gold prospect
  • New Patricia is part of Ardiden’s Pickle Lake Gold Project in Ontario, Canada and sits directly along strike of Barrack Gold’s historical Golden Patricia mine
  • The discovery was made during a review of data taken from a recent airborne geophysical survey
  • A stand-out target is ‘Fold-Nose,’ which is located at the Esker gold prospect
  • Fold-Nose is an eight-kilometre target and boasts a similar size and structure to Newmont’s five-million ounce Musselwhite gold mine
  • It also has a larger dimension than the Super Pit in Kalgoorlie, WA
  • Ardiden will now process the data to generate targets for investigation and drilling next year
  • Company shares have soared 30.8 per cent to trade for 3.4 cents in early morning trade

Ardiden (ADV) has received initial data from a recent airborne geophysical survey at the Pickle Lake Gold Project in northwest Ontario.

Pleasingly, a preliminary review of the data from the New Patricia gold prospect has revealed multiple tier-1 large scale structural targets similar to significant high-grade gold mines in the area.

Ardiden’s New Patricia property extends over 35 kilometres within the Meen-Dempster Archean greenstone belt. It’s also directly situated along strike of Barrack Gold’s historical Golden Patricia gold mine. Until the mine was closed in 1997, the mine produced 619,796 ounces at 15.2g/t gold to 750 metres below surface.

The most obvious structure the survey revealed is the ‘Fold-Nose’ target, which is at the Esker gold prospect. Esker is located three kilometres east along strike of the Golden Patricia underground mine workings.

Fold-Nose is a massive eight-kilometre target and boasts a similar size and structure to Newmont’s five-million ounce Musselwhite gold mine. Interestingly, the Fold-Nose structure has a larger dimension than the Super Pit in Kalgoorlie, WA.

“We are seeing incredible structural detail over a regional scale thanks to Ardiden’s aggregation of adjoining gold properties. I’m genuinely excited for the time when we commence drilling and see what monsters are potentially hiding below the surface,” Exploration Manager Dan Grabiec said.

The company will now process the data to generate targets for investigation and drilling next year.

Company shares have soared 30.8 per cent to trade for 3.4 cents in early morning trade.

ADV by the numbers
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