- Ardiden (ADV) receives results from the first three holes completed under a 7000-metre drilling program across its Pickle Lake project in Canada
- The initial results include high grades of up to 148g/t gold and 57g/t silver from the Esker prospect and 33.6g/t gold from the Tonsil prospect
- The current 7000-metre program is over halfway complete and is focused on a 20-kilometre strike of mineralisation
- However, Ardiden has just been granted two exploration permits which opens up a fully permitted 60-kilometre strike length of “highly prospective gold tenure”
- ADV shares are trading flat at 0.9 cents at 12:29 pm AEST
Ardiden (ADV) has received results from the first three holes completed under its 7000-metre drilling program at the Western Hub within its Pickle Lake project in Canada.
The company is conducting drilling at multiple brownfield gold prospects across Pickle Lake, targeting a 20-kilometre strike length of gold mineralisation either side of the historic Golden Patricia mine.
Today’s results come from the Esker and Tonsil prospects and include 0.3 metres at 148 grams per tonne (g/t) gold and 57g/t silver from 70.3 metres at Esker.
Results from the Tonsil prospect include 0.7 metres at 9.45g/t gold from 107.5 metres and 0.3 metres at 33.6g/t gold from 117.5 metres.
While assays are yet to be received from the Dobie and Dorothy prospects, the company observed visual gold, sulphides and alteration through initial drilling at these two prospects.
Managing Director and CEO Rob Longley said he was “extremely pleased” to report the initial high-grade results.
“This confirms our targeting strategy along the Golden Patricia trend and supports our broader vision for what we anticipate at Pickle Lake as we better understand the controls of gold mineralisation and opportunities to make significant discoveries,” Mr Longley said.
So far, the company has completed roughly 4000 metres of the 7000-metre program and 26 holes are currently being assayed.
Ardiden has also been granted two more exploration permits to work on the Meen-Cooper area which sits northwest of the Dorothy prospect, and the East Patricia area which lies to the east of Esker.
Following the grants of the new areas, Ardiden is now fully permitted to explore 60 kilometres of ‘highly prospective’ gold opportunities along the Western Hub of its Pickle Lake project.
ADV shares were trading flat at 0.9 cents at 12:29 pm AEST.