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Critical and base metals explorer Aldoro Resources Ltd (ASX:ARN) has seen its share price jump by more than 47 percent on news that it has achieved niobium recoveries of 62.4 percent from its Kameelburg project in Namibia.
At 12:38 AEDT, Aldoro shares were trading at 10.5 cents, a rise of 47.88 percent since the market opened.
On Monday morning, the company announced that metallurgical work done by Bureau Veritas Minerals in Perth had run a sample from Kameelburg’s main body through an initial phase of beneficiation comprised of an open cycle of crushing, grinding, magnetic
separation, acid wash and floatation.
This resulted in an upgrade of the ore’s head feed from 0.74 to 5.5 percent Nb2O5 (niobium pentoxide) 10.6 times, reaching a recovery rate of 62.4 percent Nb2O5, with the company looking ahead to achieve stronger recoveries through use of a finer grind and micro floatation.
The results will also boost Aldoro as it heads towards maiden drilling at Kameelburg, targeting rich niobium dykes located on the southwest periphery of the project’s carbonatite mineralisation.
Preparation for diamond drilling work is underway, with the company currently running geological mapping and rock chip sampling across the project, which is also believed prospective for rare earth elements.
