Aldoro Resources expects to announce a maiden mineral resource estimate over the Kameelburg niobium project in the 2nd quarter of this year.
The Kameelburg Project is a joint venture with a local businessman, with Aldoro holding 85% equity in the partnership.
Three EPLs, 7372, 7373, and 7895, covering 1,017 km2, comprise the project area and contain the Kameelburg (AKA Ondurakorume) carbonatite system.
The latest drill results have confirmed continued niobium mineralisation at an average grade of 0.45% Nb₂O₅, highlighted by a 186-metre intercept with an average grade of 0.81% Nb₂O₅.
The niobium mineralisation continues across 126 metres at an average grade of 0.42% Nb₂O₅.
Niobium has many uses, including in jet engines and superconducting magnets.
Aldoro Resources Ltd. entered into a binding Heads of Agreement with Logan Exploration and Investments CC and Okonde Mining and Exploration CC to acquire an 85% interest in the Kameelburg Project in March 2023.
The company made an initial payment of N$500,000 upon signing the agreement, another payment of N$2,500,000 at completion, and N$500,000 fully paid ordinary shares in the capital of Aldoro.
Aldoro Resources raised $3.8 million for working capital in early April 2023 and announced that it was well positioned to take advantage of developing the Kameelburg Project later the same month.
The parties executed the definitive joint venture agreement over the Kameelburg Rare Earths Project in August 2023.
