Aldoro’s Kameelburg Discovery Opens Depth and Funding Questions Ahead of Resource Estimate

Drilling Expansion and Strategic Discovery

Aldoro Resources Ltd (ASX: ARN) has made a compelling advance in its flagship Kameelburg REE-Niobium Carbonatite Project in Namibia, completing 12 diamond drill holes during the March quarter for a total of 4,859 meters. The company expanded its Phase I drilling program by an additional 2,700 meters, incorporating four deviated and horizontal holes to better understand the mineralisation's width and depth. This expansion was driven by encouraging early results and the need to delineate the deposit’s full potential.

The drilling program benefits from Aldoro’s ownership of diamond rigs, enabling cost efficiencies with drilling rates less than half of comparable market prices. To reach greater depths beyond the capacity of its rigs, Aldoro engaged a third-party contractor to drill three horizontal holes up to 800 meters in length.

Polymetallic Mineralisation Confirmed

Assay results received post-quarter end from six diamond holes (DD004, DD004A, DD004B, DD004C, DD002, and DD005) confirmed a significant polymetallic discovery comprising Rare Earth Elements (REE), Niobium (Nb), and Molybdenum (Mo). Notably, all holes ended in mineralisation that remains open at depth, suggesting a large and continuous deposit.

The mineralisation exhibits a distinct zonation pattern: an upper layer enriched in rare earths forming a REE-Niobium-Molybdenum deposit, and a lower layer richer in niobium with decreasing rare earth content. This zonation is supported by semi-massive to massive magnetite zones and crustal contamination features within the Beforsite carbonatite. Key rare earth minerals identified include Bastnaesite and Ancylite.

Project Scale and Infrastructure Advantage

The Kameelburg project’s scale and grade position it as a potential Tier 1 polymetallic discovery. Mineralisation extends at least 325 meters in width and 500 meters in depth, remaining open along strike. The project benefits from excellent infrastructure proximity, including bitumen roads, a heavy haul freight railway within 1 km, and a 220 MW hydropower transmission line 7 km away. The nearby port of Walvis Bay offers direct export potential, enhancing the project’s commercial appeal.

Robust Funding and Forward Outlook

Financially, Aldoro is well positioned to complete the expanded drilling program. The company secured a $1 million unsecured, interest-free loan from Non-Executive Director Dr Minlu Fu, who also serves as Exploration Manager, alongside approximately $0.63 million from recent option exercises. Cash reserves stood at over A$1 million at quarter end, with the company fully funded to complete the remaining three holes of Phase I drilling.

Aldoro plans to release a maiden Mineral Resource Estimate (MRE) for Kameelburg by the end of the June 2025 quarter, a critical milestone that will provide a formal assessment of the deposit’s size and grade. Additional assay results expected in early May will further clarify the mineralisation’s east-west extent and depth.

Broader Exploration Portfolio

Beyond Kameelburg, Aldoro continues to advance its other projects in Western Australia, including Wyemandoo, Niobe, and Narndee. These projects focus on lithium, rubidium, tungsten, and base metals exploration, with ongoing geophysical surveys and soil sampling programs underway. The company is progressing the Niobe project’s transition from prospecting to mining licence status, underpinning its diversified exploration strategy.

Overall, Aldoro’s quarterly report underscores a period of significant technical progress and financial stability, setting the stage for potentially transformative developments in the coming months.