Aldoro commences drilling at Firefly
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Aldoro Resources Ltd (ASX:ARN) has commenced its maiden drilling program at the Firefly Prospect, part of the Leinster Nickel Project in Western Australia.
The drilling program will test three high priority nickel sulphide targets that were delineated in the company’s 2018 ground electromagnetic survey.
Drilling is expected to take approximately 10 days, and assays should be known within six weeks.
While historical drilling hasn’t occurred at Firefly, the broader Leinster Nickel Project covers mapped and interpreted ultramafic units located along strike from Talisman Mining’s Sinclair Nickel Project and BHP’s Leinster Nickel Operations, which include the Perseverance, Rockys Reward and Venus deposits as shown on the aeromagnetic image below.
Typical of nickel mineralisation in the Eastern Goldfields
Results reported by Talisman include 21 metres at 1.0% nickel from surface and 32 metres at 0.8% nickel from surface with broad, shallow nickel mineralisation reported over 500 metres of strike.
Drilling will test a series of bedrock conductors modelled within an intense, one kilometre scale electromagnetic (EM) anomaly which appears to be associated with the contact of a high magnetic response unit.
This anomaly was detected in the company’s high powered ground electromagnetic (EM) survey over the Firefly Prospect in December 2018.
Subsequent modelling of the anomalies and investigation of historical drilling has confirmed that three higher priority anomalies remain untested by drilling.
More specifically, the higher magnetic responses in the Firefly area have been determined in historical drilling to correlate to ultramafic units, recently confirmed by drilling by Talisman Mining at the Amy Rix Prospect adjacent to Aldoro’s Leinster Nickel Project.
From a geological perspective, management said that the highest priority targets lie within an embayment of the high magnetic response unit.
Such embayments are commonly hosts for sulphide accumulations in komatiitic basalt flows which are the setting for nickel mineralisation in the Eastern Goldfields.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
