- Ardea Resources (ARL) expands its Kalgoorlie Nickel tenure after spending $1.8 million on some 1549 hectares at the project’s southern boundary
- The purchases, namely Bulong Turus and Lady Charlotte, are hoped to expand the project’s footprint and provide continuity of tenure
- According to Ardea, the Bulong Taurus nickel laterite resource hosts an inferred resource of 14 million tonnes at 0.84 per cent nickel and 0.051 per cent cobalt
- The Bulong tenure and Lady Charlotte tenure are located 35 kilometres east and 65 kilometres northwest of Kalgoorlie, respectively
- Ardea Resources shares are up 2.04 per cent to trade at 50 cents
Ardea Resources (ARL) is expanding its Kalgoorlie Nickel tenure after spending $1.8 million on some 1549 hectares at the project’s southern boundary.
The purchases specifically relate to additional tenure at the southern boundary of the Bulong Taurus nickel laterite deposit and $10,000 pursuant to a sale relating to the conversion of the Lady Charlotte exploration licences to a mining lease.
Broadly, the acquisition is hoped to expand the project’s footprint and provide continuity of tenure, with The Bulong tenure located 35 kilometres east and Lady Charlotte 65 kilometres northwest of Kalgoorlie.
According to Ardea, the Bulong Taurus nickel laterite resource hosts an inferred resource of 14 million tonnes at 0.84 per cent nickel and 0.051 per cent cobalt for 119 kilo tonnes of contained nickel and seven kilo tonnes of contained cobalt.
Ardea also said the southern boundary also contains the historical Great Ophir underground gold mine and battery sand dump but noted it is not available for laterite mine infrastructure.
It is intended that the gold rights for the Taurus acquisition will be transferred to the Ardea gold spinout, Kalgoorlie Gold Mining, according to the ARL.
Ardea Managing Director Andrew Penkethman commented on the purchase.
“At both Lady Charlotte and Bulong Taurus, there is considerable gold endowment in adjoining infrastructure locations, which requires careful management,” he said.
“Assuming the KalGold IPO proceeds as planned and the Bulong gold rights are acquired by KalGold, the Taurus-Great Ophir prospect area in particular represents a high-quality asset with known high grade gold mineralisation at surface.”
Ardea Resources shares are up 2.04 per cent to trade at 50 cents at 10:51 am AEST.