Ardiden Limited (ASX: ADV) has received high-grade gold results from initial assays from its 100%-owned Kasagiminnis Deposit, part of its District-Scale Pickle Lake Gold Project in northwest Ontario, Canada.
Laboratory assays for the first four holes have been received and interpreted with another six holes so far completed and awaiting results later Q4 2020.
MD and CEO, Rob Longley, said drilling will continue as long as possible into November, but as the temperature drops, safety aspects will be carefully managed for this ‘summer’ campaign.
Ardiden is hunting deep, high-grade gold deposits across its massive landholding, analogous to other well-known gold deposits in Ontario, such as Red Lake, Dixie, Musselwhite and Hemlo,” Mr Longley said.
“A steady and systematic Exploration approach is prudent in this terrain, applying good science and data capture at each stage. ‘Kas’ is our first cab off the rank, but with another 18 prospects already in Ardiden’s Gold Pipeline, we are aiming to create value for investors by increasing our likelihood of making Tier 1 gold deposit discoveries.”
Mr Longley said drilling at Kasagiminnis continues to demonstrate targeted grade and potential within its 100%-owned Greenfields gold deposit. The ‘Summer’ campaign has so far targeted small portions of the central and western areas on ‘dry land’, completing a total of ten holes from four drill pads.
The first drillhole KAS20-01 intersected visible gold and each subsequent hole has highlighted the potential at Kasagiminnis with good gold grades and wide zones of alteration.
Assayed over a meter length, the visible gold sample retuned an average assay value of 7.57 g/t Au which is consistent with the targeted gold grade in this area.
Drilling continues to demonstrate gold grades strengthening at depth such as drillhole KAS20-02 which intersected 6m @ 4.23g/t Au including 2m @ 9.53g/t Au.
Exploration drilling at Kasagiminnis is only now entering the 200-300m depth range and Mr Longley said mineralised intersections from the current drilling such as 6m @ 4.23 g/t from 190m (including 2m @ 9.53g/t Au) in KAS20-02, give confidence in Ardiden’s exploration strategy to probe deeper into the Kasagiminnis system as data and controls on gold mineralisation and orientation are collected and processed.
