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Ardea Resources (ASX:ARL) confirms conductive body at Emu Lake

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ASX:ARL      MCAP $130.7M
13 July 2021 11:50 (AEST)
Ardea Resources (ASX:ARL) - Managing Director, Andrew Penkethman

Source: Ardea Resources

Ardea Resources (ARL) has confirmed the presence of an 80-metre-long conductive body at the Emu Lake prospect in Western Australia.

The Emu Lake prospect is part of Ardea’s Kalpini Project which covers 240 square kilometres.

Last month the company undertook survey work to better define the conductive horizon. This work targeted the area near the basal nickel sulphide occurrence which was intersected in a recently drilled diamond hole.

This newly discovered conductive zone is modelled to extend up-dip from hole AELD0002, to within 150 metres of the surface.

AELD0002 returned 4.8 metres at 1.44 per cent nickel and 0.09 per cent copper, 0.2 grams of platinum per tonne (g/t), 0.09g/t palladium from a 365.9-metre depth including 1.1 metres at 4.78 per cent nickel, 0.16 per cent copper, 0.47 g/t platinum, 0.2g/t palladium from 366.9 metres downhole.

According to the company, these results represent one of the better nickel sulphide intercepts historically at Emu Lake and show the prospectivity of the underexplored western ultramafic position.

Managing Director Andrew Penkethman said he was pleased with the success of the surveys.

“Nickel sulphide exploration is challenging, and discovery success historically is rare,” he said. “With this context in mind, it is exciting to see new geophysical techniques being trialled by Ardea and successfully highlighting a potential nickel sulphide channel at Emu Lake which corresponds with the nickel sulphide intersected in drill hole, AELD0002.”

The surveys also outlined two anomalies which provide a drill target the company will follow up with reverse circulation drilling.

Company shares were down one per cent to trade at 49.5 cents at 1:28 pm AEST.

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