Aldoro Resources Ltd (ASX:ARN) has delivered a maiden mineral resource of 4.6 million tonnes at 0.17% rubidium oxide and 0.07% lithium oxide for its Niobe Rubidium-Lithium Project in the Murchison Province of Western Australia.
Notably, the inferred mineral resource estimate amounts to 8,060 contained tonnes of rubidium and 3,080 contained tonnes of lithium with shares increasing as much as 17.5% higher this morning to $0.235.
Moving forward, Aldoro has kicked off a development feasibility study at the project which is one of the highest-grade undeveloped rubidium deposits globally.
MRE summary
Aldoro’s 2022 drilling consisted of 115 holes across 7,318 metres with inclined holes (dip -55 /-60) varying from 30 to 156 metres deep and allowing the modelling up to 110 metres deep.
Thick zones of mineralisation remain open particularly in the southwest of the project with mineralisation being open along strike and along dip in most directions.
Ashmore Advisory was engaged to complete the inferred mineral resource estimate within the guidelines of the JORC 2012 code and a cut-off grade of 0.05% rubidium oxide was used.
The mineral resource estimate has been classified as inferred on the basis of confidence in the geological and grade continuity and consideration of the sampling and assay quality, sampling density and confidence in the estimation of the rubidium and lithium grades.
Inferred mineral resource estimate.
About Niobe Project
The Niobe Project lies 70 kilometres northwest of Mount Magnet in the Murchison province of Western Australia.
The project is a rubidium-tantalum-lithium exploration project based on a pegmatite dyke swarm hosted by a metagabbro sill.
It lies in the east-northeast trending Archean Dalgaranga Greenstone Belt, a synclinal belt approximately 50 kilometres long and 20 kilometres wide consisting of metasediments, felsic volcanics and lesser basalts within the Murchison Terrane.
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