Aldoro Resources confirms major polymetallic potential at Kameelburg project in Namibia

Aldoro Resources (ASX: ARN) has confirmed what it believes to be a significant polymetallic discovery at the Kameelburg project in Namibia.

The company’s recent exploration has identified the potential for rare earth elements (REE), niobium and molybdenum at Kameelburg.

Aldoro said that – given the significant semi-continuous mineralisation to depth, high grades, increasing strike and proximity to commercial infrastructure – Kameelburg is shaping up to be a Tier 1 polymetallic discovery.

Mineralisation confirmed

Results received from six holes to date have ended in mineralisation and remain open at depth, with results for an additional eight diamond holes outstanding.

Assays returned from two of these show that the mineralisation extends at least 325 metres in width and 500m in depth and appears to be open in both directions.

Aldoro plans to drill an additional three diamond holes to complete the Phase I program by mid-May and it expects the next set of assay results late next week, with full results a month or so after that.

Molybdenum presence

Assays of the upper layer of the Kameelburg mineralisation have confirmed a significant molybdenum discovery through the presence of molybdenite.

Molybdenum is used as an alloying element for stainless steel and other metals, as well as a refractory metal in chemical applications that include catalysts, lubricants, and pigments.

There is no acceptable substitute for most uses of molybdenum, the spot price of which was trading at approximately US$45,000 per metric tonne as of 16 April.

Well-situated project

Kameelburg is located approximately 300 kilometres north of Windhoek and 60km south-west of Otiwarongo along well-maintained bitumen roads.

The TransNamib heavy haul freight railway, which passes within 1 kilometre of Kameelburg, connects the project to the Industrial Port of Walvis Bay.

The C33 highway also passes within 1km of the Kameelburg Carbonatite and a 220-megawatt hydropower transmission line is located 7km away.

The company has full funding for the current program in place and expects to release a maiden mineral resource estimate by the end of the current quarter.