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Highlights
- Aldoro Resources secures two new drill rigs to accelerate exploration at Kameelburg.
- Drilling to boost local employment while ensuring environmentally sustainable practices.
- Recent licence transfer and Aurum sale support Aldoro's growth in Namibia.
Aldoro Resources Ltd (ASX:ARN) is taking significant steps to advance its exploration activities at the Kameelburg Rare Earth Elements (REE) and Niobium Project in Namibia. The company has recently acquired two diamond drill rigs to expedite its resource definition efforts in the region. These rigs are expected to arrive in early November, marking an important milestone in the company’s ongoing project development.
The newly acquired rigs, which include the Nock Crawler 300 and 600 models, are capable of drilling up to 2,000 metres per month at depths ranging from 100 to 300 metres. This capability will significantly enhance Aldoro’s exploration capabilities, allowing the company to accelerate its resource definition at Kameelburg with minimal delays. The increased efficiency provided by these rigs aligns with the company’s goal of defining a resource at the project by 2025.
Aldoro Resources has emphasized the environmental benefits of these rigs, which do not require large-scale upgrades to existing roads or the construction of large drilling pads. This allows for a more sustainable approach to exploration, reducing the environmental impact on the local ecosystem. Additionally, the company’s efforts will contribute positively to the local economy, as Aldoro plans to employ and train local workers to operate the rigs, boosting employment in the region.
The decision to acquire these rigs was driven by the rising demand for drilling services in Namibia, fueled by an increase in exploration activities for resources such as gold and uranium. By securing these rigs, Aldoro is positioning itself to meet its exploration goals while addressing the logistical challenges of operating in a region with high demand for drilling equipment.
The acquisition follows the successful transfer of three Exclusive Prospecting Licences (EPL 7372, 7373, and 7895) for the Kameelburg Rare Earths Project from Logan Exploration & Investments CC to Kameelburg Exploration Mining (Pty) Ltd, a joint venture operated by Aldoro. The Ministry of Mines and Energy in Namibia approved the transfer, providing Aldoro with full control over the licences. These licences were also recently renewed in August 2024, further strengthening Aldoro’s position in the region.
In addition to securing these licences, Aldoro recently raised $1.54 million through the sale of shares in Aurum Resources Ltd (ASX:AUE). This funding boost will further support the company’s exploration activities, enabling continued growth and development of the Kameelburg project.
Aldoro Resources is making significant progress toward advancing its rare earths exploration in Namibia, supported by the recent acquisition of drill rigs, the transfer of key prospecting licences, and a successful capital raise. The company’s strategic moves are positioning it to meet its resource definition targets while contributing to sustainable development and local employment opportunities.
