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Ardea Resources Limited ASX & Media Release 27 October 2021 ASX Symbol ARL Ardea Resources Limited Suite 2/45 Ord St West Perth WA 6005 PO Box 1433 West Perth WA 6872 Telephone +61 8 6244 5136 Email ardea@ardearesources.com.au Website www.ardearesources.com.au Directors Mat Longworth Non - Executive Chair Andrew Penkethman Managing Director & CEO lan Buchhorn Executive Director Executive Management Sam Middlemas Company Secretary Alex Mukherji Manager Land Access & Compliance Mike Miller General Manager Technical Services Issued Capital Fully Paid Ordinary Shares 138,034,219 Directors / Employee Performance Rights 4,667,000 ABN 30 614 289 342 QUARTERLY OPERATIONS REPORT For the Quarter ended 30 September 2021 CORPORATE Ardea Resources Limited ( Ardea or the Company ) continues to operate in the Eastern Goldfields of Western Australia ( WA ) with no disruption from COVID - 19 . The Company priority is progressing its flag - ship battery minerals project , the Kalgoorlie Nickel Project ( KNP ) , towards development through systematic advancement of feasibility programs , notably in process water supply and hydrometallurgical flowsheet . Ardea remains debt free , with a tight capital structure . The Company had $ 8M cash - at - bank at the end of the September 2021 Quarter . The Kalgoorlie Gold Mining Limited ( KalGold , ASX : KAL ) spin - out is nearing completion which will complete consolidation of Ardea's asset portfolio and allow the Company to be solely focussed on advancing the KNP to production . DEVELOPMENT Kalgoorlie Nickel Project Strategic Partner feedback has been incorporated into the scope of work for the accelerating feasibility study ( FS ) . The FS will demonstrate that the Goongarrie Hub ( Goongarrie ) is one of the most significant nickel - cobalt projects in the world that can ensure sustainable and ethical battery mineral supply from the premium operating jurisdiction in the world , WA . KNP Feasibility Study work streams on the Goongarrie Hub : 39 diamond drill holes for 3,203m completed for test material for hydrometallurgical test - work aiming to optimise a low - carbon flow sheet . Four water production bores and pump tests completed to support Ardea's 3.5GLpa water abstraction licence application . Gap Analysis Study with international engineering consultant Wood nearing completion , to finalise the KNP flow sheet and consolidate all KNP data to feed into the Definitive Feasibility Study ( DFS ) . Ongoing project engagement with supportive Community stake holders and with State and Commonwealth statutory authorities . Industry Partnership work continues with the Future Battery Industry Co- operative Research Centre ( FBICRC ) at Curtin University and CSIRO . EXPLORATION WA Nickel Sulphide , Critical Minerals and Gold Exploration for nickel - copper - PGE sulphide and Critical Minerals continues on compelling targets which are complimentary to the development of the KNP . Nickel Sulphide – Emu Lake drilling to continue in the December Quarter to follow - up on diamond drill hole AELD0002 massive nickel sulphide : 1 1.1m @ 4.78 % Ni , 0.16 % Cu , 0.47g / t Pt , 0.20g / t Pd from 366.9m downhole , within a broader zone of 4.8m @ 1.44 % Ni from 365.9m depth . A 500m deep diamond core hole has been planned to test a DHEM target down plunge of AELD0002 . 1 Ardea ASX release 10 June 2021 .