Ardea Resources (ASX:ARD) has commenced diamond core drilling at the Emu Lake Nickel Sulphide Camp in Western Australia.
The drill programme of approximately 4,350m is a follow-up to the Binti South Prospect high- grade massive nickel-copper-PGE sulphide discovery within the footwall contact of the Western Ultramafic.
The $21.5M raised by Petra Capital in the February 2022 Placement has brought a very high-quality investor cohort to the Ardea register, seeking follow up of the Emu Lake nickel sulphide discovery, but also committed to the broader Kalgoorlie Nickel Project nickel laterite development,” Managing Director, Andrew Penkethman, said.
“Supported by funding from the placement, the Ardea team have drawn upon their strong local relationships with key service providers and secured a core drill rig ahead of schedule to resume the nickel sulphide drilling at Emu Lake.
“This follow- up drill programme is aimed at building upon the discovery success at Binti South and will also test targets down dip and plunge of high-grade mineralisation intersected in historic drilling at Binti Gossan.
“The Emu Lake nickel sulphide exploration is evolving as part of a broader Kalpini nickel story. It can significantly contribute to Ardea’s building of a green, forward- facing integrated nickel company servicing the Lithium-Ion-Battery supply chain with an ESG-compliant, sustainable and ethical product.”
The Emu Lake Nickel Sulphide Camp is located 70km northeast of Kalgoorlie and 35km east of the Black Swan Nickel Project (Silver Swan nickel mine), operated by Poseidon Nickel Ltd, within a parallel komatiite belt to Emu Lake. There are close geological similarities between the massive nickel sulphides at Emu Lake and Silver Swan.
The Emu Lake Nickel Sulphide Camp was discovered during the 1970s “Nickel Boom”. More recent nickel sulphide exploration has included that completed between 2003 and 2011 by Image Resources Limited, Emu Nickel NL and Xstrata Nickel Australasia Pty Ltd. Their key target was the Binti Gossan zone, represented by a 1,200m strike zone of very strong gossan float (weathered expression of nickel sulphide). Historic drilling identified several high-grade, albeit generally thin (0.1-0.3 metre) massive nickel sulphide surfaces.
A detailed compilation of the historical data by Ardea and follow-up exploration drilling and down-hole electromagnetic surveys (DHEM) confirmed the Binti South Prospect high-grade massive nickel-copper-PGE sulphide discovery.
