Ardea Resources (ASX:ARD) - Managing Director & CEO, Andrew Penkethman
Managing Director & CEO, Andrew Penkethman
Source: The Market Herald
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  • Ardea Resources (ARL) has started drilling at its new gold target, Aphrodite North, which could potentially be a new gold camp
  • Aphrodite North is located near the company’s’ Goongarrie project in Kalgoorlie, Western Australia
  • Previous aircore drilling at the prospect has confirmed the gold mineralisation’s thickness and grade
  • The planned reverse circulation (RC) program totals 1500 metres and will test the rock below the aircore anomalies
  • Ardea is up 5.56 per cent on market close for the weekend and is trading at 28.5 cents per share

Ardea Resources (ARL) has commenced its reverse circulation (RC) drilling at the new Aphrodite North gold target near Kalgoorlie in Western Australia.

Aphrodite is located within the Bardoc Tectonic Zone (BTZ) at Ardea’s Goongarrie Nickel Cobalt Project.

BTZ is a continuation of the Boulder Lefroy Tectonic Zone, which hosts the famous Kalgoorlie Boulder, New Celebration and St Ives gold projects.

Previous aircore drilling results at Aphrodite North includes two metres grading 4.46 grammes per tonne gold (g/t) from 41 metres and seven metres grading at 2.48g/t of gold from 120 metres downhole.

The company has hinted that the new discovery could potentially be a new gold camp.

The planned RC program totals 1500 metres and will test the rock below the aircore anomalies.

“Ardea has a 5100-kilometre squared strategic and highly prospective tenement holding in the Eastern Goldfields world-class gold-nickel province,” Managing Director Andrew Penkethman said.

“Ardea thus controls a significant’greenfield’ gold portfolio, in which systematic gold drill evaluation is just commencing,” he added

Ardea is up 5.56 per cent on market close for the weekend and is trading at 28.5 cents per share.

ARL by the numbers
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