With a drill rig mobilised, Aldoro Resources Ltd (ASX:ARN) is kicking off its nickel-PGE drill program this coming week, targeting four new IP targets at its Narndee Nickel Project in Western Australia, and seeing the company's shares rise as high as 16.6% in midday trade.
The diamond drill program will comprise four holes, across 2,000 metres, focusing on new drilling targets following the completion of the IP survey.
Looking ahead, Aldoro is well-funded to complete the drill program with the flexibility to extend the rig contract subject to results.
Target (NYSE:TGT) summary
Drill hole NDD0030 targets a large chargeability high with a discrete moderate resistivity signal located on a steep gradient of a magnetic high, which may reflect a sulphide-rich lithological contact zone.
Drill hole NDD0031 targets a discrete moderate chargeability target, a possible ultramafic/mafic contact zone that shallowly dips to the east and appears to coincide with a break in the high resistivity signal which may be fault related.
Drill hole NDD0032 targets a discrete chargeability anomaly that appears to reside on a contact boundary of gently dipping westerly ultramafic/mafics in a low resistivity zone.