Ardea Resources (ASX:ARL) releases updated MRE for Goongarrie

• Ardea Resources (ARL) has assigned an updated mineral resource estimate (MRE) to its Goongarrie Nickel Cobalt Project (GNCP)
• The project’s measured, indicated and inferred MRE now sits at 60 million tonnes at 1 per cent nickel and 0.07 per cent cobalt
• Goongarrie forms part of Ardea’s broader Kalgoorlie Nickel Project, which has had its mineral resource inventory upgraded as well
• Ardea is currently carrying out a review of the Kalgoorlie Project’s MRE, starting with work at the Goongarrie project
• The entire nickel project’s inventory now stands at 826 million tonnes at 0.7 per cent nickel and 0.05 per cent copper
• Shares in ARL are trading up 6.19 per cent at 60 cents each

Ardea Resources (ARL) has assigned an updated mineral resource estimate (MRE) to its Goongarrie Nickel Cobalt Project (GNCP).

Goongarrie forms part of Ardea’s broader Kalgoorlie Nickel Project, which has had its mineral resource inventory upgraded as well.

ARL believes the projects will provide a sustainable and ethical supply of nickel, cobalt and associated minerals for the expanding global battery industry.

Goongarrie Project

Goongarrie’s measured, indicated and inferred MRE now sits at 60 million tonnes at 1 per cent nickel and 0.07 per cent cobalt.

That’s based on a 0.8 per cent nickel cut-off grade and includes 595,000 tonnes of contained nickel and 44,000 tonnes of contained cobalt.

The MRE also includes a maiden scandium component of 74 million tonnes at 35 parts per million scandium.

“Most importantly for future project development, using a 0.8 per cent nickel cut-off grade, the MRE is 60 million tonnes at 1 per cent nickel with strong cobalt, scandium and aluminium credits. This is a significant project advancement,” Managing Director Andrew Penkethman said.

“The GNCP also has significant manganese credits and thus has potential for
precursor cathode active material (PCAM) for use in lithium-ion batteries (LIB),” he added.

Kalgoorlie Project

Following the update at GNCP, Ardea’s Kalgoorlie Nickel Project’s Mineral Resource inventory now stands at 826 million tonnes at 0.7 per cent nickel and 0.05 per cent copper.

That figure is based on a 0.5 per cent nickel cut-off grade and includes contained metal 5.8 million tonnes of nickel and 384,000 tonnes of cobalt.

Ardea is carrying out a review of the Kalgoorlie Project’s MRE, starting with work at the Goongarrie project.

“The GNCP research and development product studies and resource update is the culmination of 12 months’ work and demonstrates the GNCP is one of the largest and most strategic nickel-cobalt deposits in the developed world,” Andrew said.

Shares in ARL are trading up 6.19 per cent at 60 cents each at 2:07 pm AEDT.