Geological Uncertainty Remains Despite Aldoro’s Confirmation of Large-Scale Mineralisation at Kameelburg

• 537 metres of continuous mineralisation confirmed from surface to end-of-hole in DD005G
• Strontium identified as a significant co-product amid global supply disruptions and price surges
• Expanded metallurgical test work underway to assess magnetite concentrate and ferroniobium potential
• Phase II drilling ongoing with 15 holes completed and further assays pending
• Results support potential for substantial resource growth and bulk mining development pathway

Defining Drill Result Validates Large-Scale Mineralised System

Aldoro Resources Ltd (ASX:ARN) has reported assay results from diamond drill hole DD005G at its Kameelburg Rare Earth Elements (REE) and Niobium Project in Namibia, confirming 537 metres of continuous mineralisation from surface to the end of the hole. This intercept includes the previously untested central core of the carbonatite intrusion, demonstrating that mineralisation extends beyond peripheral zones to form a coherent, laterally continuous system.

The drill hole terminated in mineralisation that remains open at depth, indicating potential for further resource expansion. Assay averages across the entire 537 metres include 1.18% total rare earth oxides (TREO), 3.67% strontium carbonate (SrCO3), 0.19% niobium pentoxide (Nb2O5), and 138 ppm molybdenum (Mo).

Geological Confidence and Resource Growth Potential

Aldoro’s Chairperson Quinn Li described DD005G as a "defining result" that materially reduces geological risk by confirming mineralisation continuity across the entire carbonatite system. The result supports the company’s geological model of a large-scale, internally consistent rare earth-strontium-niobium deposit, rather than isolated zones, which could underpin a significant increase in resource tonnage.

This announcement builds on the company’s recent progress, including a reported 50% grade increase over 525 metres in drill hole DD005F, which reinforced the project's scale and potential Aldoro Resources Unveils 50% Grade Boost Over 525m at Kameelburg. Phase II drilling is ongoing, with 15 holes completed to date and further assays expected throughout April.

Strontium Emerges as a Valuable Co-Product

Strontium carbonate is consistently present throughout the mineralised system and is emerging as an economically significant co-product alongside rare earths. The global strontium market has experienced a price surge of approximately 150%, with prices doubling from around US$1,200 to US$3,150 per tonne (CFR Europe) between late 2024 and mid-2025. This surge is attributed to supply disruptions caused by geopolitical tensions, notably the Iran-U.S. conflict and damage to Iran’s Port of Abbas, the world’s primary celestite export hub.

Iran controls about 85% of global celestite reserves, and China sources 60-70% of its strontium feedstock from Iran, creating a structural supply deficit with no near-term alternative sources of comparable quality. Strontium carbonate is a critical raw material for permanent ferrite magnets used in electric vehicles, wind turbines, and electronics, constituting 25-40% of ferrite magnet production costs. The European Union has formally designated strontium as a Critical Raw Material, and the United States remains fully import-dependent.

Expanded Metallurgical Work and Development Pathways

In addition to drilling, Aldoro has accelerated metallurgical test work to assess potential recovery pathways for magnetite concentrate and ferroniobium products, which could provide additional revenue streams. The mineralisation is closely associated with semi-massive to massive magnetite zones across both peripheral and central domains of the carbonatite.

While this metallurgical work is at an early stage, the presence of abundant magnetite introduces further development optionality, linking the project to steel and alloy supply chains undergoing structural shifts driven by decarbonisation and supply security concerns.

The company is also progressing an updated Mineral Resource Estimate and early-stage Pre-Feasibility Study activities, aiming to advance Kameelburg towards development as a globally significant critical minerals project.

Project Context and Tenure

The Kameelburg Project is situated in the northern Central Damara Orogenic Belt in Namibia, covering a 1.4 km diameter carbonatite plug rising approximately 275 metres above the surrounding terrain. The project holds Exclusive Prospecting Licenses approved by the Namibian Ministry of Mines and Energy, with no known impediments to ongoing exploration.

Aldoro’s portfolio also includes the Niobe lithium-rubidium-tantalum project and the Narndee Igneous Complex project in Western Australia, reflecting a strategic focus on critical minerals.

Bottom Line?

While the DD005G results significantly enhance geological confidence and highlight strontium’s emerging economic role, ongoing drilling and metallurgical studies will be critical to fully define resource size and project economics.

Questions in the middle?

• How will pending assay results from southeast step-out holes influence the overall resource model at Kameelburg?
• What are the potential challenges and timelines associated with integrating strontium and magnetite products into the project’s development plan?
• How might global supply chain dynamics for rare earths and strontium evolve, and what impact could this have on Kameelburg’s strategic positioning?