Slide 1: Corporate Update
the Kalgoorlie Nickel Project starting with Goongarrie Nickel-Cobalt for Gold and Nickel Sulphides within the Kalgoorlie Nickel Project Corporate Update The faceted multi- September 2020 coloured jewels represent the rich heart of WA and its diverse character in terms of landscape, minerals, and whe
Slide 2: Disclaimer
Disclaimer Important notice This presentation contains general information only and is, or is based upon, information which has been released to ASX or is contained in the Ardea Resources Limited (Ardea or the Company) prospectus dated 9 November 2016 (including supplementary prospectuses dated 18 N
Slide 3: Investment Highlights
Investment Highlights Foundation asset is a 100% interest in the Kalgoorlie Nickel Project (KNP), the premier nickel-cobalt 1 resource in the developed world More than 4,000km2 of 100% controlled mineral tenements located exclusively in Western Australia which 2 are highly prospective for gold but h
Slide 4: Corporate Snapshot
Corporate Snapshot Board and Executive Management Team Capital Structure, as at 2 September 2020 Mathew Longworth 33 years’ experience across exploration, project evaluation/development, Shares on Issue 117,300,435 Non-Executive Chair operations and corporate management. Invaluable experience on the
Slide 5: Optimum Location and Jurisdiction
Optimum Location and Jurisdiction All Ardea Projects located in Western Australia (WA) WA is the premier global destination for development of minerals operations WA is the top ranking operating jurisdiction in the Fraser Institute’s Annual Survey of Mining Companies - Investment Attractivenes
Slide 6: Ardea’s Golden Opportunity
Ardea’s Golden Opportunity Crustal-scale fault system links Menzies to Paddington to Kalgoorlie-Boulder and to St Ives further south, comprising: Bardoc Tectonic Zone (BTZ) Boulder-Lefroy Fault Gold deposits cluster in gold camps focused on this structure Outcrops at Menzies, Paddington an
Slide 7: Unlocking Value with a Modern Approach
Unlocking Value with a Modern Approach Ardea’s tenure encapsulates one of the world’s largest nickel-cobalt resources. Our ground is also highly prospective for gold. Let’s make the most of that. Scientifically robust gold target generation technique, comprising: Major fault systems and intercon
Slide 8: Quality targets to get moving on gold
Quality targets to get moving on gold Ardea has numerous high-quality, ranked gold exploration targets adjacent to the nickel-cobalt projects. The four main target areas are: Aphrodite North area, on GNCP mining lease tenure Conceptual target beneath lake cover (e.g. St Ives, Kundana and Lake Ro
Slide 9: Aphrodite North area – concept to discovery?
Aphrodite North area – concept to discovery? Aphrodite North area, on GNCP mining tenure Conceptual target beneath lake cover, no historic exploration. First RC drill hole intercepted: AANR0001: 6m at 3.60g/t Au from 44m from the West 2 Lode including 2m at 9.99g/t Au from 44m and 8m at 4.94g/t
Slide 10: Gold targets at GNCP
Gold targets at GNCP GNCP Ni-Co deposits GNCP location plan, showing Ardea tenements and highlighting the location of the Aphrodite North and Grafter (red dashed box) prospects, and main gold trends interpreted from magnetic data. Ardea believes this entire area highly prospective for hosting gold m
Slide 11: GNCP gold targets (cont.)
GNCP gold targets (cont.) Lady Charlotte Ardea interpreted geology of the Grafter area on E29/196. The sheared and openly folded contact of the Siberia Komatiite with the hangingwall mafic sequence (from base, Big Dick, Bent Tree, and Victorious Basalts) marks a sharp rheological contrast that, in c
Slide 12: Windanya – open pit and extension targets
Windanya – open pit and extension targets Historic mining area (1897-1906) of the Paddington gold camp centred around its largest mine, Half Mile Reef 600ft (~180m) deep, multilevel workings Produced 23,480t of ore for 12,993 oz Au at ~17.2g/t Au 50km NW of Kalgoorlie-Boulder Held by prosp
Slide 13: Moriaty – extension of Menzies goldfield undercover
Moriaty – extension of Menzies goldfield undercover Historic mining area near the Highway nickel-cobalt deposit Southern extension of the Menzies goldfield, largely under transported cover Numerous historic workings as drill targets Extensive data-mining of historic datasets New targets an
Slide 14: Corporate Strategy
Corporate Strategy KNP with “starter” GNCP offers unrivalled nickel and cobalt scale optionality, in-ground 5.5Mt of nickel and 405kt of cobalt held by a well-funded and strong technical junior Globally significant nickel-cobalt resource in an infrastructure-rich and stable jurisdiction, provides ab
Slide 15: Thank you
Thank you For further information please visit: https://ardearesources.com.au/ Or contact: Andrew Penkethman Managing Director & CEO P: +61 8 6244 5136 E: ardea@ardearesources.com.au 15
Slide 16: APPENDICES
the Kalgoorlie Nickel Project starting with Goongarrie Nickel-Cobalt for Gold and Nickel Sulphides within the Kalgoorlie Nickel Project For further information regarding Ardea, please visit www.ardearesources.com.au The faceted multi- APPENDICES coloured jewels represent the rich heart of WA and its
Slide 17: KNP - Optimum Resource Scale and Location
KNP - Optimum Resource Scale and Location Assumption is a world-leading LIB investor will require a minimum annual output of 40,000tpa nickel metal in product With 5.5Mt contained nickel*, easily accommodated within the KNP, starting with the GNCP >100 year potential supply of resource within
Slide 18: A High Quality Nickel and Cobalt Project
A High Quality Nickel and Cobalt Project Outstanding results delivered from PFS* and Expansion Studies completed in 2018: PFS of 1Mtpa and 1.5Mtpa base case over a 25-year mine life completed 1.0Mtpa 1.5Mtpa 2.25Mtpa Status PFS PFS ES Expansion study of 2.25Mtpa with a 25-year mine life complete
Slide 19: KNP Resource Breakdown
KNP Resource Breakdown KNP nickel-cobalt JORC Code (2012) Mineral Resource Resource category Size Nickel Cobalt Contained metal (Mt) (%) (%) Ni (t) Co (t) Measured 9.6 1.02 0.10 98,800 9,700 Indicated 232.9 0.75 0.06 1,759,700 141,200 Inferred 530.5 0.68 0.05 3,600,000 254,400 TOTAL 773.0 0.70 0.05
Slide 20: Goongarrie Nickel Cobalt Project Resources
Goongarrie Nickel Cobalt Project Resources Summary of total mineral Nickel Cobalt Project area, comprising resources at Goongarrie Hill, Goongarrie South, resources within the Goongarrie Big Four, and Scotia Dam (ASX release 14 March 2018). Camp Domains Cut-off Resource Size Nickel Cobalt Contained
Slide 21: Our Flagship Goongarrie Nickel - Cobalt Project
Our Flagship Goongarrie Nickel - Cobalt Project Goongarrie JORC BTZ Gold Controlling Structures Resource 215.6 Mt at Aphrodite North Gold 0.71% nickel Project Windanya and 0.06% Gold Project Ardea tenure in cobalt red Reserves optimised for 25 year mine life only, Grafter less than Gold 20% of Goong
Slide 22: Reserves Defined for Goongarrie Nickel Cobalt Project
Reserves Defined for Goongarrie Nickel Cobalt Project* Goongarrie Nickel Cobalt Project, Ore Reserves based on 25 year mine life at 1.5 Mtpa. Size Nickel Cobalt Deposits Class (Mt) (%) (%) Goongarrie South Proven 8.95 0.96% 0.10% Using a nickel equivalent cut of >0.81%, which Probable 17.26 0.79% 0.
Slide 23: Resource Comparison
Resource Comparison RESOURCES - AUSTRALIAN BULK TONNAGE NICKEL Ardea1 Kalgoorlie Nickel Project, WA Nickel Laterite Classification Mt % Ni % Co ppm Sc tonne Ni tonne Co tonne Sc Measured 9.6 1.03 0.10 not quoted 98,800 9,700 Indicated 232.9 0.76 0.06 not quoted 1,759,600 141,200 Inferred 530.5 0.68
Slide 24: Reserve Comparison
Reserve Comparison RESERVES - AUSTRALIAN BULK TONNAGE NICKEL Ardea1 Kalgoorlie Nickel Project, WA Nickel Laterite Classification Mt % Ni % Co ppm Sc tonne Ni tonne Co tonne Sc Proved 9.0 0.96 0.10 not quoted 85,920 8,950 Probable 31.18 0.78 0.09 not quoted 243,538 28,062 Total 40.1 0.82 0.09 not quo
Slide 25: Big Four Gold Resource
Big Four Gold Resource Big Four Gold, (JORC 2012) Mineral Resource (14 May 2020) Cut-off Grade Tonnes Contained gold (oz) Au g/t Au g/t ≥ 0.00 194,000 2.5 15,400 ≥ 0.50 178,000 2.7 15,300 Inferred Resource ≥ 1.00 151,000 3.0 14,600 ≥ 1.5 118,000 3.5 13,300 ≥ 2.00 92,000 4.0 11,800 Inferred resource
Slide 26: Gold Exploration Project Pipeline - Bulong
Gold Exploration Project Pipeline - Bulong Located approximately 30km east of the City of Kalgoorlie-Boulder The regionally significant crustal scale gold controlling structure, the Goddard Fault, trends Goddard north-south and passes through Ardea’s Bulong tenure (shown in red in the adjacent p