Aldoro Resources set to start its maiden drilling program
Aldoro Resources (ASX:ARN) is set to begin its maiden drilling campaign.
ARN has 100% of the Narndee Nickel PGE Project in WA and has now secured its diamond drilling contractor - expected to be on site in June.
The company is chasing a Chalice Mines style discovery.
Chalice Mines discovered the world class Julimar PGE-Ni-Cu-Co-Au discovery in WA in 2020. This was Australia’s first major palladium discovery and opened up an entirely new minerals province.
Chalice went from 20c to $5.31 - that’s over 25 x return. It is now capped at $2.6BN...
The $26.9M capped Aldoro will begin with a 5000 metre program and has the ability to increase its program as results come in.
The drilling announcement comes just a month after ARN completed its Fixed Loop Electromagnetic (FLTEM) survey at the group’s Narndee Project in Western Australia.
The FLTEM data’s initial processing confidently constrained two walk-up, drill-ready targets, being VC1 and VC11.
Drilling will focus on confirmed high confidence anomalies VC1, VC11 and VC8.
These holes will also be assessed to determine their viability to conduct DHTEM surveys.
Those surveys will then be used to assess the size and nature of the in-hole bedrock conductors at depth, and also identify adjacent, off-hole bedrock conductors.
Aldoro is in the process of finalising a gradient array (GAIP) survey - an electrical geophysical technique which has the ability to identify disseminated sulphide mineralisation.
This type of survey helps de-risk the Project and refine its targets.
ARN will further investigate the use of a GAIP survey over all 11 high-interest anomalies (VC1-VC11) identified from the FLTEM survey.
ARN is backed internationally renowned geologist Dr Minlu Fu, who invested $2M into the company making his entity Dr Minlu Fu and Associates one of ARN’s largest shareholders.
Dr Fu’s previous successes and enviable track record involve a number of nickel, copper and gold discoveries and it is the potential to make a large nickel discovery that attracted him to make a strategic investment in ARN.