Aldoro Resources Ltd (ASX:ARN) has completed its Phase 1 drilling program at its Niobe Project targeting lithium and rubidium and is encouraged by the results.
The company set up the reverse circulation (RC) drill rig on-site at the Niobe Project for a planned 3,730-metre drilling campaign in early January, following an extensive sampling program conducted in the last quarter of 2021.
READ: Aldoro Resources set for lithium and rubidium drill program at Niobe project
Seventeen holes of the 66-hole program have been completed, with a further 47 to be drilled.
All holes have intersected significant pegmatite bodies, confirming and extending historic drilling results.
Shares have been as much as 14.52% higher this morning to 35.5 cents.
Excellent results so far
Results of the first phase of drilling at Niobe have encouraging, with intersections of pegmatites confirming historical drilling, where rubidium assays were rarely collected.
Pegmatite intersections have been as thick or thicker and located where predicted in the first 17 holes, a positive sign for the robustness of the project.
Abundant mica species have been identified in geological logs, further encouraging the ongoing drill program.
Standout intersections were:
- NBRC008 with 21 metres of pegmatite from 36 metres downhole; and
- NDRC009 with 14 metres of pegmatite from 40 metres downhole, ending in pegmatite.
Cross-section at 526350m east, MGA94 grid, showing NBRC009 visual results.
What’s next
Aldoro has a busy schedule ahead, as it looks to complete drilling, with the aim of estimating a JORC 2012 reportable mineral resource once all assay results have been received.
The RC rig will then mobilise to the Wyemandoo Project, where an extensive greenfields drill program is planned.