05/08/2021 - 09:32

Aldoro grows lithium land holdings in WA

05/08/2021 - 09:32

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Aldoro Resources continues to expand its strategic ground-holding across the Windimurra-Narndee terrane east of Paynes Find after the company put its foot on additional prospective lithium tenure adjacent to its existing permits in the region. Aldoro has signed a heads of agreement with privateer Mining Equities to acquire exploration licence E 58/571 which sits next to the company’s Wyemandoo and Windimurra permits.

Lepidolitic pegmatite, with the distinctive lithium-rich lepidolite giving the outcropping rock a pink-purple colouration. Credit: File

Aldoro Resources continues to expand its strategic ground-holding across the Windimurra-Narndee terrane east of Paynes Find after the company put its foot on additional prospective lithium tenure adjacent to its existing permits in the region. Aldoro has signed a heads of agreement with privateer Mining Equities to acquire exploration licence E 58/571 which sits next to the company’s Wyemandoo and Windimurra permits.

Its new tenement covers around nine square kilometres of the Windimurra Intrusion, with initial fieldwork pointing to the presence of intrusive lepidolite-rich pegmatites cross-cutting the mafic stratigraphy which is prevalent in the region.

Aldoro’s detailed evaluation of the geophysical and geological data for the region has revealed the presence of a wide north-east trending corridor which extends through the company’s Windimurra tenure. This corridor hosts a swarm of lithium, caesium and tantalum, or “LCT” rich pegmatites that Aldoro is looking to sample and potentially drill test.

Importantly, the purchase of the tenement from Mining Equities secures the northern end of the newly discovered Windimurra LCT pegmatite corridor which extends over several kilometres of strike.

Aldoro Resources Chairman, Joshua Letcher said:“Whilst we have been busy preparing for our maiden drilling program at Narndee we have not lost focus on our Windimurra LCT project which we believe is a company maker in its own right and acquiring rights to E58/471 ensures we control the interpreted LCT fairway on a 100% basis.”

The company will pay Mining Equities $50,000 in cash and 325,000 shares to secure 100 per cent of the title to the new tenure once it has been granted by the WA Department of Mines, Industry Regulation and Safety in the months ahead. 

Mining Equities is controlled by wily Kalgoorlie mining investor and prolific tenement dealer Peter Gianni who sits quietly on the registers of a multitude of companies that have successfully picked up tenement packages from him.

Aldoro’s lithium-tantalum tenure sits about 80km south-east of the gold mining centre of Mount Magnet and covers about 220 square kilometres of the southern margin of the famed Windimurra Intrusion  which hosts the world-class Windimurra vanadium deposit.

The company’s recent reconnaissance across its Windimurra tenure has confirmed the presence of the pegmatite swarm with several intrusions mapped out and extending over more than 500m of strike. The confirmation of this extensive mineralised stratigraphy has no doubt spurred the purchase of E 59/871.

Presently, the company’s lithium-tantalum program is taking a backseat to its nickel-PGE exploration program at Narndee. Aldoro is current drilling four high-priority electromagnetic conductors at Narndee, which show marked geological similarities to Chalice Mining’s coveted Julimar discovery north-east of Perth.

However, with drilling underway at Narndee and the company expanding its strategic holding at Windimurra, punters likely won’t have to wait too long before this budding explorer begins its lithium hunt in earnest in WA’s Murchison mineral field.

 

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au

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