Aldoro Resources will take a large majority holding of a high-grade rare earth carbonatite opportunity claiming 85 per cent of the Kameelburg Heavy Rare Earth Carbonatite Project north of the Namibian capital of Windhoek in southwest Africa.
The 275-metre elevated system rises from a base with a diameter of 14,000 metres, where sampling returned results as high as 2.12% total rare earth oxides in rocks and 2.02% in the soils.
Historics results include valuable yttrium oxide, up to 2.66%, averaging 1.3% over the carbonatite with phosphorus pentoxide values as high as 9.7%, while rock chip samples showed higher values up to 5.56% TREOs and 17.25% P2O5.
Aldoro Chairman Troy Flannery said the company was comfortable in a Namibian jurisdiction ranked by the Fraser Institute as the second most favourable in the continent.
ARN view this critical metals transaction as an excellent opportunity for the Company, as it increases our rare earths exposure in what appears to be an extremely large outcropping carbonatite deposit,” he said.
With rare earth metals known to occur in all three phases, Kameelburg was last investigated in 2015 for REEs and phosphates through a time of low commodity prices and now stands primed on exploration for a range of elements now considered essential for high-tech industries.
Next steps
Aldoro will now conduct a site visit and organise a sampling programme as it sets up the operating framework and conducts a desktop study with the acquisition of historical datasets covering the entire project area.
Rare Earth Market Outlook
The global rare earth elements market is expected to grow at a CAGR of 4% during the forecast period 2018-2022. It is fuelled by increasing demand for rare earth materials in renewable energy, electronics, and other high-tech areas.
Powerful magnets used in solar, wind, and electric vehicles remain unknown in the still nascent development of renewables. Environmental and cost challenges are the only foreseeable barrier to sustained market growth.
