Ardiden Limited (Ardiden Limited ASX: ADV) issued an announcement today confirming that it has received high-grade gold test results from the Kasagiminnis Deposit, which is the company’s Pickell Lake gold mine project in northwestern Ontario, Canada. Part.
The company obtained the test results of the first 4 holes, and the remaining 6 holes have been drilled. The results are expected to be announced in the fourth quarter.
Announcement highlights
The first four boreholes in the Atidan "Summer" drilling project have been tested and are located in the Kasagiminnis Deposit, which is 100% owned by the company, with high-grade gold mineralization;
The gold ore grade has been strengthened in the deep, and the KAS20-02 borehole has 6 meters of 4.23 g/ton gold in the mine;
The KAS20-03 borehole has 6.5 meters of 4.28 g/ton high-grade gold in the mine;
This drilling only tested a small part of mineralization within 250 meters underground to understand the controlling factors of mineralization and prepare for the subsequent deeper drilling;
The "Summer" drilling project is still in progress. The current mineralization remains open to the west along the strike, and drilling has not been completed before;
The company will start the "winter" drilling project in the first quarter of 2021, and will test a larger range of untested mineralization along the eastward direction.
(Profile of drilling results)
Atidan managing director and CEO Rob Longley (Rob Longley) said:
"
Atidan is looking for deep, high-grade gold deposits on its huge tenement, similar to other famous gold deposits in Ontario, such as Red Lake, Dixie, Musselwhite and Hemlo.
"In this area of mineral rights, a stable and systematic exploration method should be adopted, and professional scientific knowledge and scientific data collection are required at each stage. Kas is our first target, and we have 18 potential Target body, our goal is to discover a level 1 gold mine to create value for investors.
"
Today Artidan shares fell 11% to A$0.032, with a market value of A$76 million.
