Evaluation of compiled historical data at Ardiden’s (ASX: ADV) Pickle Lake project in Canada has identified numerous “significant deposit-scale” targets.
Ardiden has compiled, reprocessed and interpreted previous data from the 664 square kilometre project and has identified two deposits with historic resource estimates.
The Dorothy Main deposits hosts a 1990 resource of 46,600 ounces of contained gold at an average grade of 6.17 grams per tonne.
Meanwhile, the Dobie deposit has a 1987 estimate of 53,000oz gold at 5.50g/t.
Ardiden noted that combined the historical estimates total 99,600oz at 5.7g/t within 150m of surface.
The data review also identified four underexplored brownfields prospects adjacent to deep historical mines and 12 greenfield prospects.
This is in addition to the Kasagiminnis deposit which hosts a JORC-compliant inferred resource of 110,000oz contained gold at 4.30g/t gold.
Resource drilling has been planned to begin next month with the aim of upgrading Kasagiminnis.
The program will include 3,000m of drilling ad test the western extension of the existing resource.
Ardiden’s Canadian exploration manager Dan Grabiew pointed out the resource was defined over a very limited strike length and depth.
“The potential upside from further drilling is significant when you consider there are four other gold mines in the immediate region that developed underground mines down to 1.2km below surface.”
“We can see the potential over at least a 5km strike length of our ground at Kasagiminnis based on historical results and geophysics,” Mr Grabiew added.
Drilling at the deposit in 2018 returned notable intercepts of 21m at 3.97g/t gold from 74m, 15.4m at 3.21g/t gold from 65.6m, 26.2m at 3.19g/t gold from 89.3m, and 4.7m at 4.10g/t gold from 66.5m.
As part of the resource drilling program, Ardiden released an exploration target of 0.5-1.2Moz.
According to Ardiden, Kasagiminnis is about 40km south-east of Dorothy but is part of the same regional mineralised system.
Building an understanding of Pickle Lake
Across Kasagiminnis, Dobie and South Limb, Ardiden has now firmed up more than 100 geophysical targets.
The company stated it was continuing to build a comprehensive understanding of the project’s geological and structural settings for gold mineralisation.