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Aldoro Resources Ltd (ASX:ARN) has seen the size of its Kameelburg rare earth and niobium discovery in Namibia double, with new results from its latest diamond drilling showing a notable south-west continuation.
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The focus was on two holes – DD004D and DD006 – which ended in mineralisation and were seen to be open at depth; the former yielded the highest-grade intercept to date.
Drilled to a depth of 510 metres end-of-hole, DD004D included 293 metres at 3.67% total rare earth oxide equivalent from three metres comprising 2.1% TREO, 0.21% Nb₂O₅ (niobium pentoxide) and 448 parts per million molybdenum.
In DD006, Aldoro found two layers of mineralisation, through drilling to a total of 501 metres end-of-hole. The upper layer proved to be dominant for REE (rare earth elements) – with 256 metres at 3.13% TREO equivalent from two meters comprising 1.68% TREO, 0.20% Nb₂O₅ and 395ppm Mo.
By contrast, the lower layer had more niobium mineralisation, including 87 metres at 2.31% TREO equivalent comprising 0.71% TREO & 0.25% Nb₂O₅ and 232ppm Mo.
The company is awaiting assays from another six diamond holes, with an additional three yet to be drilled, to bring Phase I drilling to completion.
On the results, Aldoro chairperson Quinn Li said these results had indicated the value of Kameelburg: “It is pleasing to see that our second release of assays from the Kameelburg REE-Nb project has reported the highest grades to date and the successful drilling of the south-west step-out hole DD006 has effectively doubled the footprint of the Kameelburg discovery.”
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Mr Li added: “Once [the remaining assays] are received, we aim to publish our maiden Mineral Resource Estimate for Kameelburg to confirm our internal assessment of its ranking as a top three REE-Nb deposit globally.”
ARN shares have been trading at 30.5 cents this morning.
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