Join our daily newsletter At The Bell to receive exclusive market insights
- Ardiden (ADV) reports “exciting” wide and high-grade gold intercepts from its Pickle Lake project in Canada
- The company drilled 12 holes across the Dorothy, Tonsil, Esker, and Dobie prospects along the Western Hub, with each hitting significant near surface gold
- Managing Director and CEO Rob Longley says it’s encouraging to see the assay results and geological structures start to align with the company’s predictive modelling
- Once the remaining 28 assays from the program have been received and analysed, the Ardiden team will finalise a robust geological model for the next phase of drilling
- Ardiden last traded at 0.9 cents on August 16
Ardiden (ADV) has reported “exciting” new wide and high-grade gold intercepts from its Pickle Lake gold project in Canada.
The company drilled 12 holes across the Dorothy, Tonsil, Esker, and Dobie prospects, along the Western Hub.
Ardiden reported each of the diamond drill holes hit significant near surface gold, with gold intercept widths ranging up to 30 metres wide.
The Dorothy Prospect confirmed a broad zone containing semi-massive to massive sulphide mineralisation, with results including 30.65 metres at 1.57 grams per tonne (g/t) gold from 31.85 metres, including five metres at 4.69 g/t gold from 57 metres.
Drilling at Tonsil defined significant gold mineralisation over an 800-metre strike, returning assays of one metre at 3.37 g/t gold from 86 metres, while Esker struck 0.5 metres at 15.2 g/t gold from 59.5 metres.
Ardiden Managing Director and CEO Rob Longley said it’s really encouraging to see the assay results and geological structures start to align with the company’s predictive modelling.
“Now that we are seeing a pattern unfolding and we begin to understand the geology and mineralisation drivers, we grow more confident about the future at Pickle Lake,” Mr Longley said.
“We have also worked hard to gain further exploration work permits across the 100-kilometre-wide project and will report on these and our 100 per cent ownership, as they are realised.”
Assays still remain pending for 28 holes from a recent drill campaign.
Once the remaining assays have been received and analysed, the Ardiden team said it will finalise a robust geological model, which will further assist with the next phase of drilling.
Ardiden last traded at 0.9 cents on August 16.
