Gold explorer Ardiden Limited ('Ardiden' or 'the Company') (ASX: ADV) is pleased to update the market regarding exploration at the Company's Pickle Lake Gold Project.
This update describes: 1) Airborne Geophysical survey and evaluation of the Esker Gold Prospect and the Western Hub 2) Reporting on the Winter drilling campaign at Kasagiminnis and South Limb The Pickle Lake Gold Project is a continuous District-Scale land tenure package of 870km2 (87,000 hectares) situated east of Red Lake in northwest Ontario.
The connected tenure is majority 100% owned by Ardiden and currently contains 22 identified gold deposits and prospects that the Company is systematically exploring. The Western Hub encompasses 50km of under-explored prospective strike length and contains both highly favourable geology and structural settings for gold mineralisation. Ardiden MD & CEO, Rob Longley said 'The Western Hub evaluation has started to come together and is presenting strong similarities to other recent gold discoveries located along the same greenstone belt in the Red Lake area. Implementation of an initial drill programme at the Esker Gold Prospect will be our key focus. Esker will be Ardiden's first step onto the Western Hub.
This highly prospective structure exhibits similarities to the geological setting at Great Bear Resources' Dixie/LP Fault, which is located to our west at Red Lake. Drilling at Esker requires MOUs with First Nation stakeholders. The Company is well advanced in its negotiations and can point to a responsible reputation in the area as Ardiden has delivered on all its commitments with the neighbouring Mishkeegogamang FN group at our fully permitted Kasagiminnis and South Limb Gold Prospects
Ardiden will return the drill rig to South Limb this Summer/Autumn to test the specific iron formation units running directly south from the Dona Lake Gold mine. Further drilling at Kas will wait until the next Winter season when we can get further out on the frozen lake and drill untested strike extensions to the east. While this has been a challenging period between COVID-19 restrictions, which hindered skills availability, and weather fluctuations, we have still learned a lot about the Gold Prospectivity of this extensive landholding with underexplored greenfields and brownfields gold prospects'.
Kasagiminnis Gold Deposit
Winter drilling at Ardiden's Kasagiminnis Gold Deposit was cut short due to rapidly warming weather which necessitated taking the rig off the ice prematurely. Only two holes were attempted on the frozen lake, east of previous drilling. Drillers were unable to properly collar these holes (KAS21-03/-04) and test the planned targeted depths. Consequently, the strike extension to the east remains untested and will be followed up next Winter utilising the improved access, now in place
The high-grade one metre intercept of 5.25g/t Au in hole KAS2106 within a broader 4m mineralised zone averaging 2.3g/t Au from 147m, indicates that the mineralised system continues near surface. Measurements from orientated core at Kas in conjunction with ongoing geophysical interpretations strongly indicates that identified sub-horizontal structures and offset faults represent significant controlling factors of gold distribution.
This is important to recognise in evaluating the broader area of dilation at Kasagiminnis which extends over 4km and includes numerous other drill target areas that will be progressively drill tested.
South Limb Gold Prospect
A total of 6 holes (1,293m) were completed at the eastern end of the South Limb Gold Prospect before the rig was relocated to Kasagiminnis. Sampling of these holes, described below, encountered sulphides but no significant gold assays. The underground Dona Lake Gold Mine (Newmont Corp.) was developed to a depth of 455m and produced approximately 250Koz of gold at 6.6g/t Au until its closure in 1993 due to low gold prices.
About Ardiden (ASX: ADV)
Ardiden Limited is focused on systematic gold exploration at its Pickle Lake Gold Project in north-west Ontario, Canada. The project consists of a District-Scale 870km2 (87,000 hectares) highly prospective gold landholding, inclusive of 22 currently identified Gold Deposits and Prospects. Pickle Lake is situated 180km east of the 30Moz Red Lake gold-producing district and within the same Archaean Uchi Geological Subprovince of northwest Ontario. Ardiden has aggregated a large and continuous tenure landholding to underpin its long-term strategy to systematically explore for and discover high grade gold deposits in the region.
In addition to the Pickle Lake Gold project, Ardiden also ownsthree hard rock (spodumene) Lithium Projectsin northwest Ontario, which are currently under an exclusive Option with Great Northern Lithium (GNL) for Ardiden to sell 80% ownership for $8.7 million and have free carry in an 80/20 Joint Venture up to completion of a Definitive Feasibility Study (refer ASX announcement 6 May 2021).
Contact:
Rob Longley
Tel: +61 8 6184 5938
Email: info@ardiden.com.au
About Structural Geologist, Leigh Rankin
Leigh Rankin BSc (Hons), RPGeo, MAIG, MGSA, MSEG: Leigh is an internationally recognised expert in geophysical interpretation, having delivered over 200 specialised training workshops on the interpretation of magnetic data, and is co-author of the textbook 'Geological Interpretation of Aeromagnetic Data' (2013: ASEG Special Publication). He has over 25 years' experience in integration of field geology, remotely sensed and geophysical data to provide coherent geological frameworks for mineral targeting. He has worked on both geophysical interpretation and structural mapping projects in over 35 countries for including Canada and the US.
ARDIDEN LIMITED 
