Ardea Resources Limited (ASX: ARL)
Ardea Resources is advancing the Kalgoorlie Nickel Project (KNP) - Goongarrie Hub through its Definitive Feasibility Study (DFS). A key operational focus has been the infill drilling program at Big Four and Scotia Dam, which has successfully confirmed the continuity and high-grade nature of nickel-cobalt mineralization. These results are crucial for refining the Mineral Resource classification, potentially upgrading resources to the Measured category and supporting the conversion to Proven Ore Reserves. The DFS itself is progressing with the awarding of major design and testwork packages, including contracts for the Acid Plant, Desalination Plant, and ore preparation. These advancements are complemented by ongoing metallurgical testing and a commitment to Environmental, Social, and Governance (ESG) considerations, demonstrated by community engagement and environmental baseline studies.
Ardea has strengthened its position through a strategic placement of A$4.6 million with Sumitomo Metal Mining Co., Ltd., at a premium to the market price, reflecting confidence in the project. This investment, alongside a strong cash balance of A$12 million as of March 2025, supports the company's working capital needs and the continued funding of the DFS. Ardea's corporate activities also include the pursuit of "Major Project Status" renewal and engagement with First Nations communities, highlighting a holistic approach to project development.
Warriedar Resources Limited (ASX: WA8)
Warriedar Resources has demonstrated a strong focus on expanding its resource base, particularly in the Golden Range and Fields Find Projects in Western Australia. The company's exploration initiatives have yielded positive outcomes, with a regional air core drilling program successfully identifying the Mougooderra Shear Zone and a new mineralized parallel splay, highlighting the potential for new regional gold discoveries. In addition to that, a scout RC program targeting previously untested pits in the Golden Corridor and Golden Range South areas returned significant gold intercepts, reinforcing the prospectivity of these areas. Metallurgical test work on primary gold samples from the Windinne Well deposit confirmed excellent gold recoveries, averaging 98.2% and reaching up to 99.8% in one sample, indicating the free-milling nature of the ore and the potential for cost-effective processing.
Warriedar Resources is well-positioned to advance its projects. As of March 31, 2025, the company held cash reserves of A$7.9 million, with a market capitalization of A$64 million and approximately 956.9 million shares on issue. The company's exploration activities have not only focused on gold but also on antimony, with significant results from the Ricciardo deposit. Assay results from a historical pulp assay program revealed multiple new antimony intervals, demonstrating the scale potential of the deposit. Early-stage flotation testing of a primary antimony composite core sample resulted in a saleable concentrate grade and high antimony recovery, suggesting the possibility of future antimony production.
(Source: Company Announcements)
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