Ardea boosts open pit resources with high-grade nickel near Kalgoorlie
The drilling at part of the company's broader Kalgoorlie nickel project (KNP) – Goongarrie hub is designed to upgrade the current mammoth resource to the highest confidence measured category. Assays have delivered some thick, high-grade intercepts that strengthen the project's case for robust early production.
The drilling campaign will feed into the company's ongoing $98.5 million definitive feasibility study (DFS), which is fully funded by Japanese giants Sumitomo Metal Mining and Mitsubishi Corporation.
The company says its DFS is on track to unlock the potential of Australia's largest nickel-cobalt resource as a multi-decade low-cost producer. The current infill program is expected to optimise five years of open-pit mining designs.
Ardea's latest drilling at its Highway prospect comprised 165 reverse circulation holes for 10,058 metres. It showcased impressive near-surface intercepts, including 14m running at 1.19 per cent nickel from 30m, 20m at 1.12 per cent nickel from 26m and a thicker 72m section running 0.92 per cent nickel from 12m.
The company says its high-grade results validate its 2025 prefeasibility study pit designs and highlight the potential for selective mining to front-load production, enhancing cash flows during the project's early years.
The Highway deposit lies 30 kilometres north of the proposed Goongarrie hub processing plant, about 100km northwest of Kalgoorlie. It spans 5.7km of strike on ready-to-go granted mining leases.
Ardea is now advancing geological interpretation and wireframing for updated mineral resources across Highway, Goongarrie South, Big Four and Scotia Dam. It anticipates feeding any upgrades into detailed resource optimisation and mine planning. Both are key deliverables for the DFS, which is slated for completion in the second half of this year.
The company is also collecting metallurgical samples to assess the inclusion of a 'mineralised neutraliser' in pit optimisations, and large-diameter diamond drilling is continuing to support detailed testwork.
The mineralised neutraliser, carbonate-bearing saprock, occurs at the base of nickel-cobalt laterite zones. While low in nickel grade, the carbonate component acts as a natural acid neutraliser, replacing costly imported limestone.
The KNP – Goongarrie hub is part of a colossal 854 million-tonne resource grading 0.71 per cent nickel and 0.045 per cent cobalt, for a contained 6.1Mt of nickel and 386,000t of cobalt.
The Goongarrie hub alone hosts 584 million tonnes with 4Mt nickel – the remainder is held in KNP's Kalpini hub. The existing PFS projected an eye-watering $800 million annual EBITDA over a 40-year mine life, underpinned by a shallow, flat-lying orebody, albeit at much higher projected cobalt prices.
The Japanese consortium joint venture with Ardea was designed for the metals powerhouses to stump up the cash for both front-end engineering design and potential financing post-DFS, positioning KNP for a final investment decision in early 2027.
Beyond Goongarrie, Ardea is sharpening its focus on advanced-stage exploration at the Kalpini hub, targeting nickel sulphide and critical minerals such as scandium and rare earth elements. Scoping studies for these prospects are underway, complementing the company's broader development strategy.
As the company updates its resources and refines its mining plan, it is poised to redefine Australia's role in the global critical minerals landscape. Ardea is steadily progressing towards development to deliver high-quality Aussie nickel and cobalt to electric vehicle makers globally.
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