Aldoro Resources unveils a solid maiden JORC Resource estimate
Nick Sundich, October 12, 2022
Rubidium and lithium explorer Aldoro Resources (ASX:ARN) gave its shareholders a hint of just how much lithium and rubidium there might be at its Niobe project in Western Australia. The company provided a maiden Inferred JORC Mineral Resource estimate, a move which pleased shareholders this morning. But there is more work to do.
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Aldoro Resources might have something in Niobe
The maiden Inferred JORC Mineral Resource estimate is 4.6Mt of lithium at 0.07% lithium and 0.17% rubidium. This is equivalent to 8,060 contained tonnes of rubidium and 3,080 tonnes of lithium.
Obviously, lithium is a hot commodity right now, but it hasn’t got the biggest resource there. Still, Aldoro Resources claims to have one of the highest-grade undeveloped rubidium deposits globally. Rubidium is an industrial mineral that has several applications, including night vision gear, GPS systems and fibre optic cables.
More work to do
Aldoro Resources shareholders shouldn’t get too ahead of themselves, though. This was only an estimate and was only Inferred (a lower level of confidence than Indicated). This morning’s announcement admitted that more work is required to enable the estimate to move from Inferred to Indicated.
Nevertheless, the company has commenced a development feasibility study and another drilling campaign to grow the resource size and upgrade the classification. And shareholders can be proud that it has delivered this within just 12 months of acquiring the tenement license.
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