Aldoro Resources Ltd (ASX:ARN) has been granted a trading halt by the ASX pending an announcement on the company’s lithium project.
The halt will remain in place until the start of regular trading on Thursday, July 8, or until an announcement is released to the market, whichever occurs earliest.
Shares traded up to 44 cents before the halt, which was 13% higher than the previous close.
Preparing for NIC drilling
Recently, the company completed preparations for its upcoming drilling campaign at Narndee Igneous Complex (NIC) in Western Australia.
The company has identified prospects for nickel, copper, platinum group elements (PGEs) and lithium at the NIC.
Initial field reconnaissance and mapping programs were successful in confirming the locations of two key nickel-copper gossans and a pegmatite swarm with several areas identified for follow-up work.
An all-access track and drill pad clearing have been completed in preparation for phase 1 drilling at targets VC1 and VC11 which is scheduled to start this month.