Ardiden Limited (ASX: ADV) has signed a milestone Exploration Agreement with Cat Lake First Nation for its Pickle Lake Gold Project in Ontario, Canada.
The Exploration Agreement outlines the company’s commitment to developing a positive relationship and co-existence within the Cat Lake Nation’s traditional territory, home to Ardiden’s 100%-owned Pickle Lake Gold Project.
The Exploration Agreement was executed at the Prospector & Developers Association of Canada (PDAC) in Toronto, Canada and comes off the back of the company’s first post-COVID visit to the Cat Lake settlement in late November 2022.
The Exploration Agreement outlines the rights and obligations of each party and provides certainty regarding all pre-mining exploration activities.
We would like to thank the Cat Lake First Nation Community for supporting our Agreement for exploration and entrusting us to explore within their traditional territories. We look forward to a cooperative and mutually respectful relationship,” Non-Executive Chair, Bruce McFadzean, said.
Drilling is underway on a 24-hole diamond drilling programme at Ardiden’s 100%-owned Dorothy Prospect with 334 metres of the planned 3,250m completed to date. The fully funded drill programme remains focused on the broad, anomalous mineralised zones that were intercepted in secondary and tertiary parallel structures during the 2022 drill programme, and targeting the wide, low to medium grade mineralisation halo identified at both the Dorothy and Dobie prospects.
Dorothy has been ranked first priority due to the width of the drilled anomalous zones and large number of cross cutting structures which have been interpreted as potential fluid feeders from the primary structure into these broad secondary and tertiary structures which run parallel to, and through the project tenements.
A 3D interpretation model of the Dorothy Prospect represents the interpreted and modelled extent of a broad mineralisation halo (gold) with a consistent sulphide zone which displays a semi massive to massive texture in drill core (green).
Historical drilling from the 1980’s and 1990’s at Dorothy support ADV’s modelled continuity of these broad parallel structures to the primary structure. A detailed review of these historical drill logs (combined with selective sampling) supports the view that previous owners were targeting narrow high grade, gold mineralisation. A number of these historical drill holes have either no reported assays or geological logs (grey).