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Ardea estimates higher resource of 20.24 Mt at Lewis Ponds polymetallic deposit

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Ardea estimates higher resource of 20.24 Mt at Lewis Ponds polymetallic deposit

The indicated and inferred mineral resources of Ardea Resources Ltd.'s Lewis Ponds gold-silver-zinc deposit in the Lachlan Fold Belt in New South Wales, Australia, is estimated at 20.24 million tonnes grading 0.5 g/t gold, 33.3 g/t silver, 1.5% zinc, 0.7% lead, and 0.1% copper, higher than the historic estimate of 6.62 million tonnes grading 1.5 g/t gold, 69 g/t silver, 2.4% zinc, 1.4% lead, and 0.2% copper.

Based on the estimate the company released Sept. 3, total contained metal is 326,000 ounces of gold, 21.6 million ounces of silver, 290,900 tonnes of zinc, 135,500 tonnes of lead, and 19,700 tonnes of copper.

The company said that mineralization at Lewis Ponds is open in all directions.

On Aug. 28, the company said that it has estimated an initial mineral resource of 62,400 ounces of gold at the Mount Aubrey deposit, which is also within the Lachlan Fold Belt.