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Ardiden ( (AU:ADV) ) has provided an update.
Ardiden has reported the observation of visible gold in diamond drill hole AS-26-793 at the Astoria deposit within its Rouyn Gold Project in Québec. The visible gold, occurring as coarse flakes up to 7mm within quartz-carbonate-chlorite veining hosted by Piché Group ultramafic volcanics, supports the geological model of a structurally controlled orogenic gold system.
The hole was designed to test the lateral limits and continuity of mineralisation at Astoria and intersected a strongly altered zone with extensive quartz-chlorite-tremolite veining but no significant sulphides. While the occurrence of visible gold indicates potential continuity of high-grade zones and adds confidence to the evolving geological interpretation, Ardiden emphasises that grades and widths will only be confirmed once pending assay results are received, expected in late May.
More about Ardiden
Ardiden Limited is an ASX-listed mineral exploration company focused on gold exploration at its Rouyn Gold Project in Québec, Canada. The company is advancing the Astoria deposit within the prolific Abitibi Greenstone Belt, targeting structurally controlled orogenic gold systems along major breaks such as the Cadillac–Larder Lake trend.
YTD Price Performance: 13.24%
Average Trading Volume: 421,869
Technical Sentiment Signal: Hold
Current Market Cap: A$85.96M
See more data about ADV stock on TipRanks’ Stock Analysis page.