FinTechFunding

Ardea Resources: Confirms DHEM conductor at Emu Lake

  • Ardea Resources (ARL) has uncovered a strong offhole conductor 20 metres north of a recently drilled hole at the Emu Lake prospect in Western Australia
  • In December, Ardea drilled a single hole to target a downhole electromagnetic (DHEM) anomaly and also intersected a stringer zone of nickel sulphides
  • The off-hole conductor is 100 metres long and 50 metres wide with estimated conductance of 8000 siemens
  • Ardea plans to drill a 450-metre deep diamond hole to test the modelled DHEM plate
  • Additionally, it began an induced polarisation survey at the Highway Project to map potential zones of disseminated nickel sulphides
  • Company shares are down 0.88 per cent and are trading at 56 cents
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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