Resource grows even larger

The company said in a statement to the ASX that it had a "globally significant" rare earth element resource of 597.07 million tonnes at a grade of 2.49%, which was a 15% increase in tonnage from its previous resource update in September last year.

The new resource was based on 29 new diamond drill holes at the project.

Aldoro said there were four distinct revenue streams from the project, located in Namibia, namely rare earth oxides, niobium pentoxide, strontium carbonate, and potentially magnetite-hosted iron by-product.

Aldoro Chair Quinn Li said regarding the new resource:

This updated Resource represents another transformational step-change for the Kameelburg Project and further confirms the emergence of one of the world's most significant multi-critical minerals systems. Not only has the total resource tonnage continued to grow at consistent grade, but the high-grade core has more than doubled in scale. Importantly, we have now formally declared a maiden strontium resource and by-product credit, positioning Kameelburg as the largest known strontium resource globally. This is a major milestone for Aldoro and further highlights the unique strategic value of the project.

Ms Li said there had been "outstanding" metallurgical leach recoveries for strontium and rare earths, and, "together with the magnetite-rich domains currently being assessed as a potential iron by-product stream, Kameelburg is rapidly evolving into a genuinely world-class, multi-product critical minerals project with the potential to become a long-life global supplier of strategic minerals''.

Aldoro said Namibia was widely recognised as one of the most mining-friendly jurisdictions in Africa, with a well-established development framework.

The company added:

The country hosts a portfolio of globally significant operating mines (including Rössing, Husab, Langer Heinrich and Skorpion) and is home to substantial investment from major international mining groups. The Namibian mining sector contributed N$7.8 billion in corporate tax in the most recent fiscal year, underscoring the sector's importance to the national economy and the corresponding strength of government support for mining investment.

Infrastructure in place

Aldoro said the Kameelburg project was well-situated, needing no greenfields rail, road, port, or power grid investment to bring it into production.

The project has bitumen highway access, and a heavy haul rail freight line is just 2km from the proposed mine site.

A major power line is also just 7km distant.

Aldoro shares were 7.9% higher on the news on Monday at 47.5 cents.

The company is valued at $103.8 million.

The post What world-leading news is driving shares in this junior ASX mining company higher today? appeared first on The Motley Fool Australia.

How high?

Well, shares in rare earths and nickel-focused resource explorer Aldoro Resources Ltd (ASX: ARN) were up 34.5% in early trade on Friday at 39 cents apiece. After some likely profit-taking, shares are changing hands for 33 cents each at the time of writing, up 14%.

And investors in ASX small-cap share Radiopharm Theranostics Ltd (ASX: RAD) will really be cheering today. In earlier trade shares in the clinical-stage biopharmaceutical company reached highs of 3.7 cents, up 54.2%. They're currently trading for 3.5 cents apiece, up 45.8%.

Here's what's stoking investor interest today.

ASX small-cap shares soar on promising updates

Turning to Aldoro Resources first, investors are piling into the ASX small-cap share after the explorer reported on assays confirming an "exceptional uninterrupted niobium strike" at its Kameelburg project, located in Namibia.

Following strong results reported in December, Aldoro said the assays it received for the remainder of Line 3 confirmed that the entire 388 meters of the line was mineralised with niobium and appeared open in both directions.

The niobium grade across the entire line was confirmed to be 0.52% Nb2O5.

Also likely spurring investor excitement, the company said that an additional 4,500 meters of trench sampling were awaiting assay, with rare earths mineralisation previously discovered along this line.

Moving on to Radiopharm Theranostics, the ASX small-cap share is shooting the lights out today after announcing it has executed a subscription agreement for a private share placement to United States-based radiopharmaceutical-focused company Lantheus Holdings.

Management noted that the placement of 133 million shares was completed at an issue price of 6 cents per share, a 150% premium to the last traded share price of 2.4 cents per share.

The company expects the settlement of $8.0 million capital raising to occur within seven days.

Commenting on the deal sending the ASX small-cap share rocketing today, Radiopharm Theranostics CEO Riccardo Canevari said: "We are delighted to have Lantheus increase its shareholding in RAD, now making it the largest shareholder with over 12% of the company."

Canevari continued:

We have been working closely with Lantheus since the initial investment announced in June 2024, and we are delighted with the collaboration that has been taking place between our two companies. We look forward to continuing this positive momentum going forward.

Lantheus CEO Brian Markison added, "We are pleased to increase our holding in Radiopharm, while continuing to work jointly in Australia on the clinical development of radiopharmaceutical assets."

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But few shares are rising as much as Aldoro Resources Ltd (ASX: ARN) shares.

At the time of writing, the ASX small cap stock is up 53% to 39 cents.

What is Aldoro Resources?

Aldoro Resources is a mineral exploration and development company with a portfolio of critical minerals projects. This includes rare earth, lithium, rubidium and base metal projects.

The ASX small cap's projects include the Kameelburg REE & Niobium Project in Namibia, the Wyemandoo lithium-rubidium-tungsten project, the Niobe lithium-rubidium-tantalum project, and the Narndee Igneous Comples project in Western Australia.

Why is this ASX small cap stock rocketing?

Investors have been scrambling to buy the mineral exploration company's shares this morning after it announced assay results from the Kameelburg REE & Niobium Project in Namibia.

According to the release, the assay results for line 3 of the pre-drill sampling program have been received. They have confirmed that niobium mineralisation has been found across the 220 meters of line 3 at an average grade of 0.70% Nb₂O₅.

It notes that 190 meters of line 3 is entirely mineralised with niobium with grades that have exceeded the assays received for line 4. They are highlighted by 128 meters at 0.96% Nb₂O₅, including 90 meters at 1.12% Nb₂O₅.

Line 3 is located approximately 500 meters to the southwest of the previously reported line 4. An additional 168 meters of this line is still to be reported once those assays are received.

The company is also looking for rare earths. It notes that samples for lines 1, 2, 5, 6, and 7 have been received by its assay laboratory, the Center of Modern Analysis and Testing Central South University, and results for Nb₂O₅ and the associated rare earth suite of elements will be reported once received.

What is niobium?

Niobium is a critical metal that has properties that make it essential as the world transitions to a low-carbon economy.

Ferroniobium is the primary saleable form of niobium. It represents approximately 90% of established niobium sales globally at present. It is used mainly as a micro-alloy in steelmaking, providing significant improvements in strength, corrosion resistance, and heat resistance on the alloyed steel.

This makes it an essential ingredient for significant construction projects, automotive applications, wind turbines, and oil and gas pipelines and storage.

Investors appear optimistic that the small cap ASX stock could be sitting atop a sizeable deposit of the critical metal. But time will tell if that is the case.

The post Guess which ASX small cap stock just exploded 53% on big news appeared first on The Motley Fool Australia.

The Aldoro Resources share price ascended quickly to 28 cents per share shortly after the market open.

This represents a 51.35% improvement on yesterday's closing price of 18.5 cents.

The ASX mining share is currently trading at 23 cents, up 21.6% for the day.

What's got investors so excited?

ASX mining share soars on big nickel discovery

Aldoro Resources released an update on its Nardnee mining operations this morning.

The miner reported additional preliminary results from its third planned diamond hole, which is targeting an Induced Polarisation (IP) geophysical anomaly.

The drill hole revealed a 40-metre thick anomalous high grade nickel mineralisation.

Four other drill holes reported varying amounts of nickel at shallow depths of less than one metre.

The company said the five drill holes indicated the mining zone is open to the north, south, and west.

It has named the discovery the 'Area 32 Nickel Discovery'.

The company will dispatch samples for a final Ni-PGE-Co assay.

Aldoro said it will now move its RC drilling rig approximately 3.4 km to the southwest to investigate a similar nickel anomaly.

Nickel is used in stainless steel production but also has many green energy applications.

Nickel, lithium, and graphite are used in the manufacture of electric vehicle (EV) batteries.

Who is Aldoro?

Aldoro Resources is an ASX mineral explorer with a portfolio of critical minerals projects encompassing rare earths, lithium, rubidium, and base metals, all located in Western Australia.

Narndee is the company's flagship project. It is prospective for nickel, copper, and platinum group elements (PGE).

The ASX mining share is up 29.4% in the year to date and down 15.4% over the past 12 months.

The post Guess which ASX mining share just jumped 51% on a new nickel discovery appeared first on The Motley Fool Australia.

The ASX lithium share closed at 26.5 cents a share, a 20.45% gain after hitting an intraday high of 29.5 cents apiece.

The rally was likely sparked by the company releasing an update on its drilling programme at the Wyemandoo Critical Metal Project in Western Australia.

Drilling results

Aldoro identified key lithium-rubidium targets after completing a total of 29 RC holes for 3,198 metres that ranged from 84 to 201 metres in depth. These holes intersected pegmatites at a range of intervals, the company said.

Aldoro advised many of these intersections have been interpreted as moderately dipping dykes orientated to the northwest or flat-lying sills. 

Quarterly results 

Aldoro has built solid momentum after releasing its quarterly results for the three months ended June 2022 on 27 July.

This update provided a substantial list of drilling results. One key highlight was the engagement of pegmatite processing expert Professor Zhiguo He.

He is conducting a commercialisation review that's expected to take eight months. The company said an initial shipment of ~300 kilograms of sample ore has been consigned to Professor He in China.

Also in last month's update, the company advised it had completed a placement of 9.2 million shares priced at 25 cents, raising a total of $2.3 million. 

The purpose of this capital raising was to provide funds to progress the drill program at the Wyemandoo Rb-Li Project. 

This may be why the Aldoro share price has been on a rally of late.

Aldoro share price snapshot

In the last 12 months, this ASX lithium share has fallen by 51%, shedding 36% year to date.

By comparison, the S&P/ASX 200 Index (ASX: XJO) has dropped 7% in a year and 5.6% in 2022 so far.

Aldoro has a market capitalisation of $26.4 million at the time of writing. 

The post This ASX lithium explorer just had a new find, and its share price rocketed 20% appeared first on The Motley Fool Australia.

Below we take a look at the ASX resource explorer's mineral results that look to be driving investor interest.

What did Aldoro report?

Aldoro's share price is soaring after the company reported it may have uncovered "world class" rubidium potential at its Niobe Project in Western Australia.

The company said it had re-evaluated the Niobe Project, which has been mined for tantalum, with historical rubidium oxide (Rb2O) of up to 1.09% analysed from reverse circulation (RC) drill holes conducted in the mid-1980s.

According to the release, the exploration target of approximately 33,000-150,000 tonnes held grades ranging 696-1,457 parts per million (ppm) rubidium oxide (Rb2O) over an area of 80 metres by 65 metres of detailed historical drilling.

The Aldoro share price could also be getting a boost with the report that this area is less than half the total mapped section of the Niobe pegmatite, with the rest as yet untested.

Management commentary

Commenting on the results, Aldoro chairman Joshua Letcher noted:

It seems that the potential resources of the Niobe Rb project of Aldoro Resources Limited may be in the same order with the Tiantongshan rubidium deposit with analyses of Rb2O>1.5% and is associated with other valuable elements, such as lithium, caesium and tantalum.

Letcher was referring to the Tiantongshan rubidium deposit discovered in China's Guangdong province in 2019. According to Letcher, that had Rb20 resources of more than "100,000 tonnes at the average grade 0.109% Rb2O … the biggest Rb deposit in the world".

Aldoro noted that its Niobe prospect rubidium potential was approximate and at this time remained "conceptual in nature". It is uncertain if future exploration will result in the estimation of a mineral resource.

Pending the approval of a works program, Aldoro intends to start drilling at its Niobe Project in late September.

Aldoro share price snapshot

Over the past 12 months, the Aldoro share price has gained 568% compared to a gain of 23% posted by the All Ordinaries Index (ASX: XAO).

Year-to-date, Aldoro's share price has continued to charge higher, up 256% in 2021.

The post Why the Aldoro (ASX:ARN) share price is rocketing 26% today appeared first on The Motley Fool Australia.

At the time of writing, Aldoro shares are fetching for 54 cents, down a sizable 11.48%.

What were the results?

According to its release, Aldoro reported its findings on the third and fourth drilling holes at the VC1 target.

Located within the NIC, the VC1 target is 90 kilometres south-southwest of Mount Magnet in Western Australia.

Aldoro stated that both holes intersected massive, semi-massive, blebby, and veined nickel-copper sulphides.

The third hole (NDD0003) came across approximately 1.9 meters of massive sulphide from a depth of 111.6 metres to 113.5 metres.

In addition, the fourth hole (NDD0004) discovered 0.9 meters of massive sulphide, and several broad zones of disseminated and blebby sulphides ranging from 102.5 meters to 273 meters.

Aldoro noted that the results are very encouraging and will provide powerful targeting tools for future drilling at VC1.

As such, the company is planning for follow-up drilling primarily guided by Downhole EM (DHTEM) surveying. The DHTEM survey crew is currently on site to survey all the holes at VC1 to refine drilling targets. In total there are 5 holes to DHTEM survey.

The drill rig will move to the VC3 target to drill a single hole, while DHTEM surveying is being completed.

About the Aldoro share price

Aldoro is a mineral exploration and development company focused on gold and nickel in Western Australia. The company has been listed on the ASX since September 2018.

Despite today's steep drop, Aldoro shares have stormed 360% higher over the last 12 months. The company's share price is up 220% in 2021 alone, reaching an all-time high of 67 cents earlier this month.

Based on today's price, Aldoro presides a market capitalisation of roughly $43.3 million, with close to 81 million shares outstanding.

The post Aldoro Resources (ASX:ARN) share price slides 11% despite drilling update appeared first on The Motley Fool Australia.

Let's take a closer look at the gold and nickel miner's latest news. 

Drilling kicks off

The Aldoro share price had a bumper day after the company announced frontline drilling at its 100%-owned project site has begun. Aldoro advised that the drilling was being undertaken in areas where it's already found "high confidence" anomalies, with fixed loop electromagnetic surveys. It's also secured a diamond drilling contractor, which it expects to be on-site in June.

Aldoro is targeting a 5,000-metre program at Narndee, near Cooladar Hill in Western Australia, with the ability to increase its program size if it receives promising results. The current drilling is focused on three confirmed target sites within that zone.

The company says its initial drilling holes will also act as "dual-purpose inspection holes" to gauge the suitability of those targets for further down-hole transient electromagnetic surveys.

The Narndee project is situated on clay bedrock, which has the possibility to produce misleading results. 

These surveys improve the accuracy of any future drilling locations, reducing the risk of expensive drilling in redundant targets. The original surveys were conducted by independent geologists from Southern Geoscience Consultants.

Aldoro is also in the process of finalising a gradient array (GAIP) survey. GAIP is an electrical geophysical technique that has the ability to identify disseminated sulphide mineralisation, a type of ore that often contains copper and zinc deposits.

Background

Aldoro shares listed on the ASX in September 2018. The company conducts mineral exploration and development and has a collection of gold and nickel-focused advanced exploration projects all located in Western Australia.

The Narndee Igneous Complex, which comprises the project Aldoro has just begun drilling, is its flagship drilling region. The company has previously found it to be "highly prospective" for nickel, copper and platinum group (platinum, palladium, rhodium) mineralisation.

The company's other projects include the Cathedrals Belt Nickel Project near Mount Alexander in WA and four separate gold tenements, which are currently under company review.

Aldoro share price snapshot

The Aldoro share price appears to be finding steady ground over the past two weeks after doubling between early March and mid-April. On 19 April, the company's shares hit an intraday high of 45.5 cents before gradually retreating to their current levels. Aldoro shares have also gained more than 100% so far in 2021. 

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The Aldoro share price is up 4.48% to 35 cents per share.

Aldoro is an exploration company established to explore and develop gold and nickel mineral properties. Its projects include Ryans Find, Kalgarin, Cathedrals and Leinster, and other mineral projects, including Narndee. 

What Aldoro's market update said

Aldoro's FLTEM survey has been completed, with data being processed for its final report, which is expected in mid-April. Investors are getting in early, though, sending the Aldoro share price rising today.

Two high confidence walk-up, drill-ready targets have been confirmed, with another target confirmed as a very discrete bedrock conductor. 

The explorer will now conduct Moving Loop Electromagnetic (MLTEM) surveying over high-priority targets coincident with topographic highs to attain a clearer result. A site visit is also planned for field mapping (identifying gossans) and follow-up geochemical surveys.

Several of Aldoro's targets are situated on pronounced bedrock highs, leading to some anomalous results.

The latter target produced a bedrock conductor near the surface for this broad anomaly, which was interpreted as clays/weathered materials.

A site visit and mapping and sampling exercise of these topographical highs will determine the degree of weathering to establish the presence, if any, of clays that may have led to spurious FLTEM readings.

Aldoro share price snapshot

Aldoro has a very small market capitalisation of just $24 million, and the Aldoro share price has been volatile. However, it's still risen overall from just 8 cents in November last year to its current high.

It previously reached 33 cents in February this year but had crashed down to 19 cents by March, explaining the company's cautious approach when it comes to anomalous findings in Narndee.

The Aldoro share price is also up 191.6% over the past 12 months, beating the basic materials sector. 

The post Why is the Aldoro (ASX:ARN) share price rising today? appeared first on The Motley Fool Australia.

What was in the announcement?

According to Aldoro, it has commenced exploration at its Narndee project, which will take place from now into 2021. Aldoro Resources stated that it has been reviewing the project, along with historical data, and is set to commence exploration. The company will commence exploration work with an electromagnetic survey, set to take place in November. Following the electromagnetic survey, groundwork will commence in order to define drill targets for late 2021.

Aldoro stated that it will use modern exploration techniques in order to search for nickel and copper deposits. The announcement stated that "Aldoro holds 100% of the basal ultramafic portion of the complex around Narndee". Aldoro Resources holds a tenement of approximately 306km² in the area. 

According to the company, previous exploration conducted by Falconbridge revealed widespread nickel, copper and platinum anomalies of up to 6,190 parts per million of nickel, 672 parts per million of copper and 595 parts per billion of platinum and palladium. 

About the Aldoro share price

Aldoro Resources is a mineral exploration and development company with assets in Western Australia. The company has been listed on the ASX since 2018.

Earlier in October, Aldoro announced it had completed drilling at its Unaly Hill South project with assay results pending. The 56 drill holes were targeting gold and totalled 3,422 metres. 

In the quarter to 30 June 2020, the company spent $294,000, mostly on exploration. Aldoro Resources had cash on hand of $2.5 million at 30 June, however, it raised $1.19 million after the end of the June quarter.

After today's impressive rally, the Aldoro share price is up 246.14% from its 52-week low of 6.5 cents and has increased 32.35% since the beginning of the year. The Aldoro Resources share price is up 25% since this time last year.

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