Aldoro Resources substantially increases lithium exposure with two highly prospective acquisitions

Aldoro Resources Ltd (ASX:ARN) has substantially increased its exposure to the highly sought-after battery metal lithium, acquiring two lithium-rich projects in Western Australia’s Mt Magnet region. The Wyemandoo and Niobe tantalum-lithium projects, adjacent to Aldoro’s existing projects in the Narndee-Windimurra Igneous Complex, previously belonged to Meridian 120, a private Western Australian resources company. These highly prospective licences contain multiple lithium and tantalum areas of interest which will be the focus of Aldoro’s exploration. Sky’s the limit Aldoro managing director Joshua Letcher said the company now had huge lithium, nickel, copper and platinum group element (PGE) potential. “This is one of the only locations in the world that you could build a battery gigafactory and have all the natural resources in one location,” he told Proactive. “Perfect for Tesla considering they want $1 billion of battery minerals per year from Australia. “It is pleasing to secure the adjacent licence to our Windimurra lithium project at E59/2431 which is showing significant promise whilst also bolstering our technical team with the welcome addition of Dr Peter Hayden who is a proven resource finder. “Whilst we are excited to shortly commence drilling our flagship nickel-copper-PGE project at Narndee over the next few months we have already put plans in place to ensure work currently occurring at our Windimurra Lithium project continues unabated.” Wyemandoo Project The Wyemandoo Project, 80 kilometres southeast of Mount Magnet, covers 9 square kilometres and is contiguous with Aldoro’s recently granted tenement E59/2431 on the Narndee-Windimurra Igneous Complex. It is a rare metal exploration project in an Archean layered mafic intrusion cut by numerous pegmatite dykes; there is also an extensive zone of high-grade hydrothermal tungsten (scheelite) veins. A total of 18 rock chip samples collected around the ring produced an average of 1.06% lithium oxide, with a highest grade of 2.12% Li2O. The pegmatites generally trend northeast and can strike over 1000m in length, varying from 1m to 20m in outcrop width with shallow to moderate dips, typically 30 to 60 degrees. While more than 20 pegmatite dykes have been mapped to date, of which 10 have been sampled, dozens more are yet to be mapped and sampled. The Wyemandoo pegmatites represent a new lithium-bearing pegmatite field, located over 25 kilometres north-northwest from the Youanmi Lithium Pegmatite Field. Niobe Tantalum-Lithium Project Niobe is 70 kilometres northwest of Mount Magnet and is a tantalum-lithium exploration project based on a pegmatite dyke swarm hosted by a metagabbro sill. High-grade tantalum ore has been mined in the past from a small open pit and there are shallow high-grade drill intersections that have not yet been mined, with mineralisation open at depth. Its lithium potential is encouraging; past exploration at Niobe was focused initially on beryllium and tantalum (companies) However, lithium minerals that have been recorded at Niobe include lepidolite, zinnwaldite and pink elbaite. About half of the drill holes that have been analysed for lithium show significantly anomalous values above 1000 ppm lithium (0.2% Li2O). The deal Aldoro will pay Meridian $50,000 cash and $150,000 in shares, as well as a 1% net smelter return royalty over the tenements it has acquired. Dr Peter Hayden, executive chairman of Meridian, will join Aldoro’s technical team and will assist with unlocking the lithium potential of the combined Aldoro Windimurra lithium portfolio. - Daniel Paproth