Ardea notes work is continuing for the Goongarrie Hub JV using a $12 million funding line supplied by Sumitomo, with infill resource definition drilling at the proposed Big Four nickel-cobalt deposit and bench-scale metallurgical work. Funds are also being used to progress processing plant engineering studies, in addition to bore-field design work following the completion of hydrogeological exploration drilling and with further environmental approvals required.

An interesting backdrop to the compelling mining hook-up is how an unsolicited email from Sumitomo to Ardea expressing initial interest in the project, in conjunction with an introduction between the latter and Mitsubishi originated from the Federal Government-owned Export Finance Australia, has resulted in the three parties linking arms to develop the world-class operation to help meet the market’s need for quality-grade critical minerals.

The KNP contains a significant number of nickel-cobalt and critical mineral deposits and features a total resource of 854 million tonnes at 0.71 per cent nickel and 0.045 per cent cobalt for 6.1 million tonnes of contained nickel and 386,000 tonnes of cobalt. The Goongarrie Hub, within the KNP, hosts a mineral resource of 584 million tonnes at 0.69 per cent nickel and 0.043 cobalt for 4 million tonnes of contained nickel and 250,000 tonnes of cobalt.

Ardea also has its fingers in various advanced-stage exploration targets such as Kalpini, a nickel sulphide prospect, along with several lithium, scandium and rare earths targets across its highly-prospective Eastern Goldfields nickel-gold province.

But the FIRB approval is an important step in meeting the JV requirements for its flagship operation and provides invaluable support for a project that could bring a tremendous boost to the Kalgoorlie region.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au