Ardiden Limited has completed its merger with Lac Gold, bolstering its position with a $10 million capital raise and launching a significant drilling campaign at the Rouyn Gold Project in Québec.
- Merger completed with Lac Gold, acquiring Rouyn Gold Project
- A$10 million capital raising successfully closed in December
- 15,000-metre diamond drilling program commenced at Rouyn
- Strong cash position of A$18.2 million post-merger
- Active stakeholder engagement and permitting underway
Merger Sets Stage for Canadian Gold Focus
In a strategic move to strengthen its foothold in Canadian gold exploration, Ardiden Limited has completed its merger with Lac Gold Limited, acquiring full ownership of the Rouyn Gold Project in Québec. This acquisition marks a pivotal step in Ardiden's ambition to establish itself as a focused Canadian gold company, leveraging high-quality assets in premier mining jurisdictions.
The merger was accompanied by a successful capital raising of A$10 million in December 2025, providing Ardiden with a robust financial platform to advance its exploration activities. With a strong cash balance of A$18.2 million at the end of the quarter, the company is well-positioned to fund its near-term priorities without immediate capital constraints.
Drilling Campaign Kicks Off at Rouyn
Ardiden has commenced a substantial 15,000-metre diamond drilling program at the Rouyn Gold Project, aiming to expand and refine the existing mineral resource. The program, which began in late January 2026, is designed to test the depth and structural continuity of the deposit, underpinning future technical and economic studies.
Key operational preparations included the appointment of Forage Val d’Or as the drilling contractor, selected for their regional expertise and competitive pricing. Supporting services such as drilling logistics, core handling, and community relations have been entrusted to Explo-Logik and Ethos Stratégie respectively, ensuring a comprehensive approach to both technical execution and stakeholder engagement.
Permitting and Community Relations in Focus
To facilitate exploration activities, Ardiden submitted an Authorisation to Intervene (ATI) application to the Québec government, a critical permit for advancing drilling operations in compliance with environmental and land-use regulations. The receipt of this permit is anticipated to unlock additional high-priority drill targets, enhancing the project's growth potential.
Alongside regulatory efforts, Ardiden has actively engaged with local stakeholders, including the City of Rouyn-Noranda and First Nations communities. The company’s commitment to transparent and respectful dialogue is reflected in its appointment of Ethos Stratégie to manage ongoing community relations, a vital component for sustainable project development in the region.
Pickle Lake Project Remains a Strategic Asset
While the Rouyn Project commands immediate attention, Ardiden continues to recognise the long-term potential of its Pickle Lake Gold Project in Ontario. The company has initiated a comprehensive review of historical data and is exploring advanced data analytics and artificial intelligence to optimise future exploration strategies. Although no on-ground exploration occurred this quarter, these preparatory steps signal a methodical approach to unlocking value from this district-scale landholding.
Corporate and Financial Integration Underway
Following the merger, Ardiden has begun integrating governance, reporting, and operational systems across the expanded group. The Board has been reconstituted to reflect the new corporate structure, with a management team experienced in exploration and capital markets steering the company forward. Operating costs remained controlled during the quarter, with staff and administration expenses modest relative to the company’s cash reserves.
Overall, Ardiden’s recent activities reflect a disciplined and strategic approach to growth, balancing technical advancement with stakeholder engagement and financial prudence.
Bottom Line?
Ardiden’s merger and capital raise have laid a solid foundation, but the market will be watching closely as drilling results and permitting progress unfold.
Questions in the middle?
- When can investors expect initial assay results from the Rouyn drilling program?
- How will the ATI permitting timeline impact the pace of exploration at Rouyn?
- What are the company’s plans for advancing Pickle Lake beyond data review and analytics?