Maiden JORC resource estimate announced
Yesterday, our exploration investment Aldoro Resources (ASX: ARN) announced its maiden rubidium-lithium JORC resource estimate.
ARN’s maiden JORC resource is for a total inferred resource of 4.6Mt @ 0.17% rubidium and 0.07% lithium.
The resource is equivalent to 8,060 contained tonnes of rubidium and 3,080 contained tonnes of lithium.
This makes ARN’s project one of the highest grade undeveloped Rubidium deposits globally.
ARN has also confirmed that mineralisation remains open at shallow depths which means there is still plenty of scope for ARN to grow its resource size.
This image summarises that potential perfectly, the red dots being the drilling completed by ARN to date and the purple being the outcropping pegmatites (which ARN can still test).
On top of all of this, the resource is only from ARN’s Niobe project and does not include Wyemandoo where ARN has recently been drilling.
We think that the resource estimate provides a good baseline for ARN, with the company already starting planning its phase 3 diamond drilling program to grow the resource size and upgrade its classification.
ARN’s published exploration target is for 33,000 to 150,000 tonnes of rubidium for this project and with more drilling we think ARN could achieve this target.
We have been waiting for this news since ~March of this year when we first launched our ARN Investment Memo - with this objective now being achieved we will look for ARN to continue to drill out its rubidium resource and any potential upgrades to the size or classification.