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Ardea Resources (ASX:ARL) - Managing Director, Andrew Penkethman - The Market Herald
Managing Director, Andrew Penkethman
Source: The Pick Magazine
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  • Ardea Resources (ARL) has uncovered a strong offhole conductor 20 metres north of a recently drilled hole at the Emu Lake prospect in Western Australia
  • In December, Ardea drilled a single hole to target a downhole electromagnetic (DHEM) anomaly and intersected a stringer zone of nickel sulphides
  • The off-hole conductor is 100 metres long and 50 metres wide with estimated conductance of 8000 siemens
  • Ardea plans to drill a 450-metre deep diamond hole to test the modelled DHEM plate
  • Additionally, it began an induced polarisation survey at the Highway Project to map potential zones of disseminated nickel sulphides
  • Company shares are down 0.88 per cent and are trading at 56 cents

Ardea Resources (ARL) has uncovered a strong offhole conductor north of a recently drilled hole at the Emu Lake prospect in Western Australia.

The Emu Lake prospect is located within the Kalpini group of tenementsand forms part of the broader Kalgoorlie Nickel Project in WA.

Hole AELD0001 was drilled in December last year and targeted a downhole electromagnetic (DHEM) anomaly based on data compiled by geophysical consultants.

Pleasingly, the hole intersected a stringer zone of nickel sulphides at 382 metres and returned a result of 0.65 metres at 2.95 per cent nickel and 755 parts per million copper from 336.7 metres.

The newly-identified off-hole conductor lies 20 metres to the north of the hole. The modelled plate is 100 metres long and 50 metres high with a conductance of 8000 siemens.

"Given the low industry wide success rate in making nickel sulphide discoveries, it is extremely encouraging to see that we have identified a strong conductor along strike from the initial target that could represent an accumulation of high-grade nickel sulphide," Managing Director Andrew Penkethman said.

Ardea plans to drill a 450-metre deep diamond hole to test the modelled DHEM plate. This drilling will be partly funded by a previously awarded State Government Exploration Incentive Scheme grant.

In addition, the company has recently begun an induced polarisation survey at the Highway Project which is aimed at mapping potential zones of disseminated nickel sulphides.

Company shares are down 0.88 per cent and trading at 56 cents at 1:47 pm AEDT.

ARL by the numbers
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