South Limb Gold Targeted By Survey
Ardiden Limited (ASX: ADV) has completed a drone-mounted geophysical survey at its 100%-owned South Limb Gold Prospect at Pickle Lake, north-west Ontario.
A UAV-mounted magnetometer targeted two high-priority drill target areas at the under-explored brownfield Gold Prospect, to help refine Ardiden’s gold exploration drill targeting in these areas. Drill targets are planned in a fold nose near an historical drillhole (DH172-007) which reported 7.8g/t Au from 8m.
Managing Director and CEO, Rob Longley, said that from a study of historical data at South Limb, Ardiden has outlined multiple targets that may provide opportunities for similar deep mineralised gold systems to the Dona Lake Gold Mine (Newmont Corp).
Mined between 1987 and 1993, the underground Dona Lake Gold Mine produced more than 246,500oz gold at 6.5 g/t Au to depths of 450m below surface. However, the surface footprint of the main lode was only ~100m of strike length, emphasising the importance of depth testing below any anomalous near-surface values.
At the first South Limb target (west block), initial drone imagery shows much-improved structure and lithology resolution, which will greatly assist drill rig positioning during the upcoming drill programme.
Mr Longley said that interestingly, at the second South Limb target (east block), directly alongside the Dona Lake Gold Mine, an intense magnetic field played havoc with ‘drone’ navigation and instrumentation, causing this area to be abandoned.
While this is unusual, it is not unprecedented in gold mineralised systems that are predominantly hosted in strongly magnetic Iron Formations. The strong concentration of Iron Formation in this largely untested area, in close proximity to a known gold deposit, makes this a high priority target to commence drill testing.
Concurrent with ongoing drilling at its Kasagiminnis Gold Deposit, and in line with plans to progressively advance exploration across the entire Pickle Lake ‘Gold Pipeline’ (refer ASX announcement 16 June 2020), Ardiden is preparing to mobilise a second drill rig to its South Limb Gold Prospect to test high priority gold targets, aimed to commence before the Christmas shutdown.
South Limb is situated 17km north-east of Kasagiminnis and approximately 10km south of First Mining Gold’s (TSX-V: FF) Pickle Crow Gold Mine where Auteco (ASX: AUT) is currently drilling, as part of its 5-year earn-in arrangement.
South Limb also directly adjoins Newmont’s Dona Lake Gold Mine, where Metals Creek is also working through its 3-year earn-in arrangement. The Dona Lake underground Gold Mine produced 246,500oz of gold at 6.6g/t Au to a depth of 450m until its closure in 1993 as a result of a weak gold price.
South Limb is 100% owned by Ardiden and has no earn-in liabilities. At least 26 targets have been identified along 9km of prospective strike length. The east and west block, defined by UAV survey, contain the highest priority areas.
Ardiden has recently collaborated with Metals Creek to re-establish an all-season track off the main sealed highway to the Dona Lake Gold mine area. This will assist exploration activities for both Companies.
The company also recently completed an MOU with the Mishkeegogamang First Nation Group and received a Permit from the Ontario Mines Department (MENDM) to undertake exploration activities at South Limb, in addition to Kasagiminnis.