Bold Properties Project

The Company has entered into an option agreement with Benton Resources Inc. to acquire 100% of the greenfields Bold Property Project, an attractive early-stage exploration opportunity with several sulphide zones identified by historical exploration which returned encouraging cobalt, copper and nickel values from limited reconnaissance drilling and sampling data.

The project complements Ardiden’s existing portfolio of lithium and graphite projects, providing it with exposure to additional metals (cobalt, copper and nickel) which are expected to be in high demand due to their consumption by the growing energy storage, battery and Electric Vehicle (EV) markets globally.

The Bold Property Project is strategically located close to existing good infrastructure, with excellent access to the growing energy storage and Electric Vehicle (EV) markets and EV manufacturers in Detroit (General Motors, Ford Motor Company and Fiat Chrysler Automobiles US) and California (Tesla)

Bold Property Project

The Bold Property Project is located approximately 50km north-east of the town of Mine Centre in Ontario, Canada. The property is connected to Highway 11 (Trans-Canada), which is located 25km north via an all-weather road. The project is less than 3 hours’ drive from Thunder Bay, a leading regional mining jurisdiction in Ontario with key local infrastructure including a skilled mining workforce and excellent local logistics and infrastructure. It has strong potential to provide a high-quality product to supply growing North American demand and export markets.

The Bold Property Project consists of four claims (1,024 hectares) and covers a number of anomalous sulphide zones. In 1992, Hexagon Gold (Ontario) Ltd. completed a total of 17 drill holes in multiple locations on and around the Bold Property Project at various depths of up to 428m down-hole.

The nine grab samples that were collected by Hexagon in 1992 returned encouraging grades of up to 0.33% cobalt, 5.54% copper and 0.73% nickel, confirming the significant exploration potential; however, Ardiden confirms that very little work has been completed since then.

It should be noted that the historical drill core and grab sample assay results were obtained and reviewed prior to the current CIM National Instrument 43-101 or JORC (2012) guidelines and, as such, should only be considered from a historical point of view and not relied upon. A qualified person has not completed sufficient work to classify the historical results. Further exploration and drill testing programs are required to report these results in accordance with JORC (2012) guidelines.

In late 2016, Benton Resources Inc. staked the project and has completed limited exploration over the zones of anomalous sulphides at the Bold Property Project.