Ardea finds gold in previously untested structure

ARDEA Resources has had success finding gold mineralisation over a 2.4km strike from drilling a previously untested structural target at Goongarrie South near Kalgoorlie.
Ardea finds gold in previously untested structure Ardea finds gold in previously untested structure Ardea finds gold in previously untested structure Ardea finds gold in previously untested structure Ardea finds gold in previously untested structure

Drilling at Goongarrie near Kalgoorlie

Lying under 30-40m of transported lake sediments, the results included 5m grading 3.9 grams per tonne gold from 42m, and "suggest strong gold anomalism over an extensive area that has never been systematically explored," Ardea said.

The junior also cautioned the exploration was at a "very early stage".

Confirmatory resampling is to now be undertaken given sampling to date utlilised 6m composites.

Ardea's principal focus in recent year has been its Goongarrie nickel-cobalt project, with its geology team charged with reviewing the gold potential given the price of bullion and market interest in the precious metal.

Ardea started the current quarter with A$9.2 million cash.

After rising as much as 16%, shares in Ardea were up 8% to 27.5c in late trade, capitalising the company at $32 million.