Diamond drill rig at Binti. Source: Ardea Resources
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Ardea Resources (ARL) confirms high-grade, near-surface nickel-cobalt mineralisation at the Goongarrie South deposit in WA
  • Ardea completed drilling last year to support metallurgical work ahead of a definitive feasibility study (DFS) for the Kalgoorlie nickel project
  • The company says drill results validate the mineralisation models used for the MRE and confirm discrete zones of bedrock shearing and alteration
  • Metallurgical testwork is ongoing and the results will be used for resource optimisation and mining studies as part of the DFS work
  • ARL shares end the day trading steady at $1.05

Ardea Resources (ARL) has confirmed high-grade, near-surface nickel-cobalt mineralisation through drilling at the Goongarrie South deposit in Western Australia.

The eight-hole diamond drilling program was completed late last year and aimed to generate run-of-mine mineralisation for metallurgical programs ahead of a definitive feasibility study (DFS) for the Kalgoorlie nickel project (KNP).

Results include 26 metres at 1.33 per cent nickel and 0.029 per cent cobalt from 22 metres including 20 metres at 1.53 per cent nickel and 0.034 per cent cobalt from 28 metres in AGSD0032.

Additional results were 38 metres at 1.21 per cent nickel and 0.087 per cent cobalt from 66 metres in AGSD0034.

According to the company, the results validate the mineralisation models used to generate the Goongarrie South Mineral Resource Estimate (MRE).

Ardea also said drilling confirmed discrete zones of bedrock shearing and alteration along with alkaline intrusions which account for the deep weathering with thick, high-grade nickel mineralisation at Goongarrie South.

“[Drilling] was important for confirming the expectation that premium goethite nickel-cobalt mineralisation would be located in the deeply weathered ‘V-shaped’ structure at
Goongarrie South,” Managing Director Andrew Penkethman said.

“With the unique Goongarrie geological model yet again confirmed, we continue to await the results of the ALS bench-scale metallurgy from Highway, as a control for the waiting Goongarrie program.”

The company’s ultimate goal is to enhance the KNP-Goongarrie project hub as a globally significant supplier of sustainable nickel-cobalt for the lithium-ion battery sector.

ARL shares ended the day trading steady at $1.05.

ARL by the numbers
More From The Market Online
The Market Online Video

Market Close: Consumer stocks drag market lower; Alara starts copper production in Oman

The ASX200 has closed the day down 0.15 per cent at 7724 points.
The Market Online Video

Orcoda welcomes Maree Adshead as Non-Executive Director

Orcoda (ASX:ODA) has welcomed Maree Adshead as an independent Non-Executive Director.

Cynata Therapeutics advances Phase 2 trial for high-risk aGvHD treatment

The market has responded favourably to Cynata Therapeutics' announcement regarding its Phase 2 clinical trial on…
The Market Online Video

Market Update: ASX trades flat as materials leads the market

The ASX200 is trading flat this afternoon, up just .10 of a per cent in line…