Ardea Resources (ASX:ARL) - Managing Director, Andrew Penkethman
Managing Director, Andrew Penkethman
Source: The Pick Magazine
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  • Ardea Resources (ARL) has intercepted significant gold mineralisation from drilling at Aphrodite North within the Bardoc Tectonic Zone (BTZ)
  • Drilling was undertaken between July 9 and 27 with seven holes drilled for a total of 1686 metres
  • All of the holes intersected the targeted dolerite zone with variable veining, confirming gold intercepts with results peaking at 9.99g/t gold
  • A 2600 metre follow-up program has been planned and results will be announced once analysed
  • Ardea has ended the day 6.5 per cent in the red with shares trading for 57.5 cents each

Ardea Resources (ARL) has intercepted significant gold mineralisation from drilling at Aphrodite North within the Bardoc Tectonic Zone (BTZ).

The BTZ is a major gold-fertile structure that intersects the Kalgoorlie Terrane of the Eastern Goldfields in Western Australia.

Drilling was undertaken between July 9 and 27, with seven holes drilled for a total of 1686 metres.

All of the holes intersected the targeted dolerite zone with variable veining, confirming gold intercepts.

However, two of the holes were stopped due to drilling difficulties associated with wet surface clays but they ended in zones of strong alteration and gold mineralisation.

Ardea has received gold assay results for six holes and multi-element data for three holes.

Significant results include six metres at 2.6g/t gold from 44 metres including two metres 9.99g/t gold from 44 metres, and eight metres at 4.94g/t gold from 172 metres including four metres 9.42g/t gold from 172 metres.

“To intersect significant gold mineralisation in the initial RC drill program at the Aphrodite North area demonstrates proof of concept and is a credit to the exploration team,” Managing Director Andrew Penkethman said.

“This result is especially exciting as it is only one of many targets defined within Ardea’s extensive BTZ gold target inventory,” he added.

Ardea has now planned a follow-up 2600 metre RC drilling program and a high capacity rig has been booked.

Results will be reported on once they are analysed.

Ardea has ended the day 6.5 per cent in the red with shares trading for 57.5 cents each in a $72.13 million market cap.

ARL by the numbers
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