Aldoro Resources Confirms Major Polymetallic Discovery at Kameelburg Project in Namibia: ASX 300 Stock Update

Highlights

• Aldoro Resources has confirmed a significant polymetallic discovery at the Kameelburg project in Namibia, with the potential for rare earth elements, niobium, and molybdenum.

• Initial drilling results indicate semi-continuous mineralisation, open at depth, with assays showing a wide and deep mineralisation profile.

• The Kameelburg project is strategically located near key infrastructure, including roads, railways, and a hydropower transmission line.

Aldoro Resources (ASX:ARN), an ASX 300-listed company, has made notable advancements with its exploration at the Kameelburg project, located in Namibia. The company’s recent findings point to the presence of rare earth elements, niobium, and molybdenum, marking the Kameelburg project as a significant polymetallic discovery. These elements are critical in various industries, including technology, steel production, and energy.

Mineralisation Confirmed at Kameelburg

Exploration results from six drilled holes at Kameelburg show mineralisation that extends deep and remains open for further exploration. These initial results are promising, indicating that the mineralisation at Kameelburg spans a wide area and is consistent at depth. Additional drilling results are expected soon, and the company anticipates further confirmation of the project’s size and scale.

The presence of semi-continuous mineralisation that extends both laterally and vertically is an important factor in defining the potential for future development. The mineralisation is expected to continue at depth, and the results from the ongoing drilling will provide more detailed information on the scale of this discovery.

Molybdenum Discovery

Among the most significant discoveries made so far at Kameelburg is the presence of molybdenum, an important industrial metal used in alloys and as a refractory metal. The assays returned from the upper layers of mineralisation show the presence of molybdenite, a key ore of molybdenum. This metal is in high demand in various applications, such as in the production of stainless steel, lubricants, and chemical catalysts.

Molybdenum is essential for several industrial processes, and its applications in the production of steel and other metals make it highly valuable. As of mid-April, the spot price of molybdenum stood at a significant level, underlining its importance in the global market.

Strategic Location of the Kameelburg Project

The Kameelburg project is situated approximately three hundred kilometres from Windhoek, Namibia’s capital, and lies near the town of Otiwarongo. The location of the project provides easy access to vital infrastructure, which is crucial for the development of mining operations. Well-maintained bitumen roads connect Kameelburg to major transport hubs, facilitating the transportation of equipment and resources.

The project is also located in close proximity to the TransNamib freight railway, which passes within one kilometre of the site. This railway provides direct access to the Industrial Port of Walvis Bay, a key international shipping port. Additionally, the Kameelburg site is near the C33 highway, further improving accessibility.

Another significant advantage for the Kameelburg project is the nearby 220-megawatt hydropower transmission line, which is just a short distance away. This infrastructure ensures that the project has access to reliable power, which is essential for the operations of any mining facility.

Ongoing Exploration and Future Drilling Plans

Aldoro Resources is continuing its exploration efforts at Kameelburg, with plans to drill additional holes to further assess the extent of the mineralisation. The Phase I drilling program is expected to be completed by mid-May, and assays from additional diamond drill holes are anticipated to provide further insights into the depth and scope of the project.

The company has outlined its commitment to completing the next phase of drilling and is focused on obtaining a clear understanding of the project’s scale, which will help inform future exploration and development plans.

As Aldoro Resources moves forward with its exploration at the Kameelburg project, the findings to date suggest that the site could be a significant polymetallic discovery within Namibia.