Aldoro Resources (ASX: ARN) has announced a significant polymetallic discovery at its Kameelburg project in Namibia. Recent exploration efforts have identified the potential for rare earth elements (REE), niobium, and molybdenum. According to Aldoro, the discovery could be a Tier 1 asset due to the substantial mineralization at depth, high grades, expanding strike length, and proximity to existing infrastructure. Assay results from six drill holes indicate mineralization extends at least 325 meters in width and 500 meters in depth, remaining open in both directions. Additional drilling is planned to complete Phase I by mid-May, with further assay results expected shortly.
Notably, assays have confirmed the presence of molybdenite, indicating a significant molybdenum discovery within the upper layer of the Kameelburg mineralization. Molybdenum is a crucial alloying element used in stainless steel and other metals, trading at approximately US$45,000 per metric tonne as of April 16. The Kameelburg project benefits from its location roughly 300 kilometers north of Windhoek, with established road and rail infrastructure nearby, including the TransNamib heavy haul freight railway and the C33 highway. Aldoro anticipates releasing a maiden mineral resource estimate by the end of the current quarter, with full funding secured for the current exploration program.
