Gold explorer Ardiden Limited ('Ardiden' or 'the Company') (ASX: ADV) confirms completion and receipt of initial data from its recent Airborne Geophysical Survey at the Pickle Lake Gold Project in northwest Ontario.
A preliminary review of raw data from the survey over the Company's New Patricia Gold Prospect has revealed multiple Tier-1 large-scale structural targets analogous to significant high-grade gold mine settings in the area.
To provide context of scale, the 'Fold-Nose' structure revealed at the Esker Gold Prospect is larger in dimension than the Super Pit in Kalgoorlie, Western Australia.
Ardiden's Exploration Manager, Dan Grabiec said: 'The New Patricia Gold Property is a potential company-maker in its own right. Numerous and exciting kilometre-scale geological features have now been delineated for the first time with this modern-day, high-tech Geophysical Survey. The New Patricia brownfields gold property is vastly unexplored with good winter access. We are seeing incredible structural detail over a regional scale thanks to Ardiden's aggregation of adjoining gold Properties. I'm genuinely excited for the time when we commence drilling and see what monsters are potentially hiding below the surface.'
The most obvious structure revealed in detail by the survey is at the Esker Gold Prospect, located just 3km east along strike of the Golden Patricia underground mine workings: A massive 8km-wide 'Fold-Nose' target is evident at Esker which is analogous in size and structure to Newmont's 5Moz operating Musselwhite Gold Mine.
Ardiden will now process and interpret the data with specialist Geophysical consultants to generate targets for further investigation and drilling in 2021.
While excited about the Esker Gold Prospect and massive discovery-potential across the entire New Patricia Property, Ardiden is adopting a systematic exploration approach to its entire 664km2 contiguous land holding at Pickle Lake. This approach involves improving the geological understanding, processing historical data and reports, completing permitting requirements and pursuing ongoing FN consultations, before taking drill rigs into the various Gold Prospect areas.
Ardiden's New Patricia Gold Property extends over 35km of highly prospective geological setting within the Meen-Dempster Archean greenstone belt and is situated directly along strike of Barrick's historical Golden Patricia Gold Mine which produced 619,796 oz @ 15.2g/t Au to 750m below surface until mine closure in 1997.
With diamond drilling still progressing at Ardiden's 100%-owned Kasagiminnis Gold Deposit 20km east of New Patricia, the Company is constantly re-evaluating the controls on gold mineralisation based on current observations and measurements.
Lessons from one Gold Deposit will be transferred to the next as the Company progressively works its way through its Pipeline of 19 currently-defined Gold Prospects and Deposits (refer ASX announcement 16 June 2020) to provide the best possible opportunity to make Tier-1 discoveries and deliver shareholder value.
Ardiden's Pickle Lake Gold Project is a large, District-Scale, highly prospective gold exploration portfolio that is taking shape. With the Kasagiminnis and South Limb Gold Deposits now fully permitted, and with present-day First Nation Agreements in place, Ardiden is executing its plan and steadily growing a Compelling Gold Project in this Tier-1 North American jurisdiction.
Thanks to this new comprehensive geophysical survey, exciting Tier-1-sized gold targets at the New Patricia Gold Property are now visible using a modern geophysical-lens.
Contact:
Rob Longley
Tel: +61 8 9322 7600
Email: info@ardiden.com.au
Forward Looking Statement
This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein. All references to dollars ($) and cents in this presentation are to Australian currency, unless otherwise stated. Investors should make and rely upon their own enquires and assessments before deciding to acquire or deal in the Company's securities.
ARDIDEN LIMITED 
