Ardiden (ASX:ADV) - CEO & Managing Director, Rob Longley
CEO & Managing Director, Rob Longley
Source: The Pick Magazine
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  • Ardiden (ADV) has updated the market regarding winter exploration activities at its Pickle Lake Gold Project in Ontario, Canada
  • Drilling began in late January at the South Limb Gold Prospect to test extensions of the iron formation that hosts mineralisation at the Dona Lake Gold Mine
  • Between 1987 and 1993, Dona Lake produced more than 246,500 ounces of gold at 6.5g/t
  • Drilling is currently onto the fourth hole with significant pyrrhotite sulphides intersected, peaking at 7 per cent
  • Once drilling is completed at South Limb, Ardiden will move to its Kasagiminnis Gold Deposit with work likely to begin in early March
  • Ardiden is up 4.76 per cent and shares are trading at 2.2 cents

Ardiden (ADV) has updated the market regarding winter exploration activities at its Pickle Lake Gold Project in Ontario, Canada.

Drilling began in late January at the South Limb Gold Prospect to test extensions of the iron formation that hosts mineralisation at the Dona Lake Gold Mine

Between 1987 and 1993, Dona Lake produced more than 246,500 ounces of gold at 6.5g/t.

Drilling is currently onto the fourth hole with significant pyrrhotite sulphides intersected, peaking at 7 per cent.

Once drilling is completed at South Limb, Ardiden will move to its Kasagiminnis Gold Deposit with work likely to begin in early March.

Drilling will test along strike to the east of the current inferred resource of 110,000 ounces at 4.3g/t gold.

“Ground exploration activities at Pickle Lake are running smoothly and some exciting sulphides have been intersected in our South Limb drilling next to the Dona Lake Mine,” CEO and Managing Director Rob Longley said.

“We are on schedule to complete the initial drilling at South Limb then move across to drill at Kasagiminnis. Our site geologists are unravelling the structural and lithological controls on gold mineralisation at South Limb and Kas, as we collect more orientated data from these previously untested areas,” he added.

Ardiden has also provided an update regarding its lithium projects where it is undertaking a review given the growing demand for lithium.

While work is still ongoing, up to 6.4 per cent lithium oxide has been intersected so far.

Ardiden is up 4.76 per cent and shares are trading at 2.2 cents at 10:32 am AEDT.

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