Ardiden Limited (ASX: ADV) is an ASX-listed exploration company focused on creating shareholder value by building a significant gold resource at its Pickle Lake Gold Project located in north west Ontario, one of Canada’s most prolific gold mining districts.
The Pickle Lake Gold Project consists of 1,088 km2 of highly prospective connected landholding containing three gold deposits (Kasagiminnis, Dorothy and Dobie) and around 23 other identified brownfields and greenfields gold prospects.
The Company’s strategy is to systematically target and sensibly drill its highly prospective deposits and prospects to unlock value for shareholders while building a significant gold resource.
The Kasagiminnis (Kas) Gold Deposit has a maiden Inferred high-grade gold resource of 110,000oz (790,000t @ 4.3g/t Au) and in May 2020 the Company defined an exploration target of 500,000 oz to 1.2Moz @ 3.9 – 6.6g/t Au. The Kas Deposit represents only a small part of a connected and underexplored +120km strike length at the Pickle Lake Gold Project.
In May 2021, Ardiden agreed to dispose of up to 80% of the Seymour, Wisa and Root Lake Lithium projects to Green Technology Metals Limited (formerly Great Northern Lithium Pty Ltd), a company planning an IPO on the ASX during late October 2021. In September, Ardiden’s shareholders voted overwhelmingly in support of the transaction, which was the commencement of a 49% ADV/51% GT1 joint venture over the lithium assets (JV). In March 2022, GT1 exercised the right to acquire a further 29% interest in Lithium JV. JV interest now is 80% GT1 and 20% Ardiden, with Ardiden free carried to the earlier of completion of a positive Bankable Feasibility Study or Decision to Mine.
Ardiden has an experienced Board and Management team with international and Australian based expertise in exploration and production as well as corporate governance and capital raisings.