Aldoro completes drilling at Leinster Nickel Project: Results shortly

By Jonathan Jackson. Published at Oct 28, 2019, in Mining

Aldoro Resources (ASX:ARN) will commence a high powered ground electromagnetic (EM) survey at its Cathedrals Belt Project.

GEM Geophysics will conduct the survey, which will focus on a ground moving loop electromagnetic (MLTEM) survey over an area of E29/1030, which forms part of its Cathedrals Belt Project.

Cathedrals’ Belt lies to the east and west of the $64 million capped St George Mining’s (ASX:SGQ) Mt Alexander Project.

Aldoro’s tenement E29/1030 is interpreted to lie directly along trend from the ultramafic units hosting the nickel-sulphide mineralisation at the Cathedrals, Strickland and Investigators Prospects as seen below.

Structural interpretation of Cathedrals Belt over regional  aeromagnetic image showing location of E29/1030 which will be the focus of ARN’s EM survey.

In good news for Aldoro, St George plans to drill its new Fish Hook Prospect in November. The expectation is this would potentially significantly increase the strike length of nickel-copper mineralisation identified across the Cathedrals Belt.

Previous images obtained in November 2018, when Aldoro completed a high resolution aeromagnetic survey over its Cathedrals Belt tenure, show a discrete E – W magnetic feature in the SW portion of E29/1030.

The current MLTEM survey will attempt to identify whether any conductive zones (potentially indicative of accumulations of sulphide minerals) are associated with this identified feature.

Such conductors would form high priority follow-up drill targets for Aldoro.

GEM Geophysics will mobilise to site this week to commence the survey which is expected to take 4 weeks to complete.

Results will be available after survey data is processed and modelled.

Drilling complete at Leinster

Whilst work at Cathedrals Belt is ramping up, Aldoro has also just successfully finished its maiden drilling program at the Leinster Nickel Project.

Leinster plays host to the Firefly prospect, where Aldoro has encountered a mixture of basalts (including high Mg), coarse-grained mafic and ultramafic lithologies.

The company encountered trace (<5%) sulphides associated with the ultramafic units, and more significant sulphide bearing intervals were dominantly pyrite (80%) and hosted by mafics.

Samples have been submitted to the laboratory with assays to follow shortly along with a more detailed drilling report.

Recent activity bodes well for Aldoro

Talisman Mining Ltd (ASX:TLM) has divested its Sinclair Nickel Project to Saracen Mineral Holdings Ltd (ASX:SAR) for $10m cash and a 2% Net Smelter Return (NSR) royalty.

The Sinclair Nickel Project contains infrastructure including a 200-person camp, mine buildings and workshops, a core yard, a two kilometres airstrip and quality water that can be reticulated to the Thunderbox plant.

Sinclair is just 25 kilometres south-west of Saracen’s Thunderbox operations and offers underexplored gold tenure.

Sinclair also includes a 350,000 tonnes per annum processing plant and mineral resources of 720,000 tonnes at 2.3 per cent nickel.

This bodes well for Aldoro, whose Leinster Nickel Project is adjacent to the Sinclair Nickel Project.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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