Ardiden to Kick-Start Resource Definition Drilling at Pickle Lake's Kasagiminnis Gold Deposit in July, Know Key Details!

  • June 29, 2020 08:07 PM AEST
  • Team Kalkine
Ardiden to Kick-Start Resource Definition Drilling at Pickle Lake's Kasagiminnis Gold Deposit in July, Know Key Details!

Summary

  • Ardiden has planned to commence Phase 1 of its Kasagiminnis Gold Deposit exploration drill program in July this year in order to build on the current JORC estimate.
  • Though gold mineralisation remains open along strike at Kasagiminnis to the east and west, there is historical widely spaced drilling providing evidence that the gold mineralisation trend persists in both directions.
  • Ardiden believes potential upside from further drilling at Kasagiminnis is significant with four other gold mines in the immediate region that had developed underground mines down to 1.2km below surface.

Gold explorer, Ardiden Limited (ASX:ADV), which boasts high-grade Pickle Lake Gold Project in Ontario, has planned to kick-start Phase 1 of its Kasagiminnis Gold Deposit exploration drill program in July this year. Under the first phase, the Company aims to build on the current JORC estimate at the deposit by delineating further gold mineralisation along strike and at depth.

Kasagiminnis is one of the multiple deposit-scale targets and advanced gold prospects within the Company’s total landholding of 664 sq.km at Pickle Lake, covering 120km of under-explored strike.

Kasagiminnis Deposit is distinct from other gold projects in the area, as it has a high-grade Inferred JORC (2012) resource estimate of 790,000 tonnes @ 4.3g/t for 110,000 oz Au. Besides, the deposit is a new discovery with no exploitation of the in-situ gold resource or historical mining.

In addition to Kasagiminnis Gold Deposit, the Company has lately identified ‘Dorothy’ and ‘Dobie’ Gold Deposits with historical estimates at Pickle Lake.

Must Read! Ardiden Building A Significant Gold Resource Base in Ontario’s High-Grade Pickle Lake Gold Camp

Resource Definition Drilling to Commence in July

The first phase of summer drill program (resource definition) planned at Kasagiminnis involves 3,000m of diamond drilling focussing on the western extension of the current JORC 2012 resource area.

The existing JORC Resource was announced by Ardiden following its 2018 drilling at Kasagiminnis undertaken over a limited strike of the mineralisation. The forthcoming drilling would continue from the Company’s 2018 drilling program, which returned substantial mineralised drill intercepts at Kasagiminnis, including:

  • 26.2m @ 3.19g/t Au from 89.3m in KAS18-10
  • 21.0m @ 3.97g/t Au from 67.0m in KAS18-04
  • 15.4m @ 3.21g/t Au from 65.6m in KAS18-08
  • 4.7m @ 4.10g/t Au from 66.5m in KAS18-01

Moreover, the planned drilling would target untested areas along strike and adjacent to south of the main Kasagiminnis Resource containing high-grade gold values, including a historical high-quality intercept of 4.24m @ 21.0g/t Au from 92.14m in drill hole KAS-87-06.

It is imperative to note that the existing JORC resource was estimated over just an east-west strike length of 600m and to a maximum depth of 280m below surface. However, the planned drill program would test along strike and to a maximum depth of 500m.

Ardiden notified that though gold mineralisation remains open along strike at Kasagiminnis to the east and west, there is historical widely spaced drilling providing evidence that the gold mineralisation trend persists in both directions.

Besides, neither Company’s 2018 drilling campaign nor historical drilling has tested mineralisation below 305 vertical metres at the deposit in spite of mining undertaken at adjacent underground gold deposits to depths above 1km below surface.

Based on geophysical, historical data and structural reviews, the Company observes the potential over minimum 5km strike length of its ground at Kasagiminnis. Supporting this stance, the Company mentioned that Goldcorp’s Dona Lake underground mine developed at an average grade of 6.6g/t Au to 455m below surface is located to the east along strike while Barrick’s undeveloped Koval Deposit is situated to the west along strike.

Exploration Target at Kasagiminnis

Ardiden has lately estimated an Exploration Target of 4 to 5.8 million tonnes at a grade ranging between 3.9 to 6.6 g/t Au (500,000 oz - 1.2 Moz Au) at Kasagiminnis Deposit over a strike length of 2km and to 500m below surface.

The Exploration Target delineated by the Company is based on existing and historical data available at the Kasagiminnis area and along strike of the similar structure as the Maiden Inferred Mineral Resource Estimate.

Following the Phase 1 drill programme at Kasagiminnis, Ardiden has planned additional drill programmes in 2020 and 2021 at the deposit to progress with Phase 2 and 3 of Resource Definition over the Exploration Target area. Moreover, the Company continues to formulate a comprehensive understanding of structural and geological settings for gold mineralisation across its flagship project with ‘structure’ evolving as a vital control on gold mineralisation.

ADV was trading at $0.008 on 29 June 2020.

 

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