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ALDORO RESOURCES LIMITED — Capital/Financing Update 2020
Oct 4, 2020
64422_rns_2020-10-04_5e614e48-4ebf-4261-916a-10afcb9feae0.pdf
Capital/Financing Update
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Expansion of Kiabye Soil Sampling Program
Highlights
ASX Announcement 5 October 2020 ASX Code: ARN
Board
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First phase of Kiabye soil sampling program now complete
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Recently received rock chip and lag sample assay results highlight further areas to be included in the soil program
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Drilling progressing well at Unaly Hill South Project
Rhod Grivas
Non-Executive Chairman Dr Caedmon Marriott Managing Director Joshua Letcher Non-Executive Director
Capital Structure
Aldoro Resources Limited (“Aldoro” or “Company”) is pleased to update shareholders on activities at the Company’s Kiabye Greenstone Belt and Unaly Hill South gold exploration projects.
Kiabye Greenstone Belt
Aldoro has completed an initial soil sampling program covering an area of approximately 8km[2] around Kiabye Well North, on the Kiabye Greenstone Belt. Samples were collected at 50m x 200m spacing and have been submitted to the laboratory for gold and multi-element pathfinder analysis.
Shares: 66.38m Options: 8.5m Share Price: $0.10 Market Cap: $6.64m Cash (30/06/20): $2.20m
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@aldororesources
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aldororesources Aldoro Resources
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In conjunction with this work, the Company has received assay results for a number of rock chip and lag samples collected on recent field visits and donated to the Company by local gold prospectors. Whilst the exact location and provenance of the donated samples can not be verified by Aldoro to be reported under JORC, these results warrant an expansion of the current soil sampling program to test and verify the areas identified. A further 2km[2] of sampling is planned.
Unaly Hill South
The Unaly Hill South aircore drilling program commenced last week and is progressing well with 23 of the 55 holes drilled. The program aims to test potential dilational structures along the Youanmi Shear Zone inferred from Aldoro’s ground magnetic survey work and associated with broad zones of gold-in-saprolite anomalies identified in historic shallow vertical RAB drilling.
The Company looks forward to updating shareholders on the progress of our ongoing exploration activities in due course.
This Announcement has been approved for release by:
Caedmon Marriott
Managing Director
www.aldororesources.com
T: +61 475 116 798
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Figure 1: Unaly Hill South AC Drilling October 2020
www.aldororesources.com
T: +61 475 116 798
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About Aldoro Resources
Aldoro Resources Ltd is an ASX-listed ( ASX:ARN ) mineral exploration and development company. Aldoro has a collection of gold and nickel focussed advanced exploration projects all located in Western Australia. The company’s flagship gold project is the Penny South Gold Project, which is contiguous to Ramelius Resources ( ASX:RMS ) Penny West Project in the Youanmi Gold Mining District, in the Murchison Region of WA. Aldoro is also currently exploring the Cathedrals Belt Nickel Project and has a significant tenement holding surround St George Mining’s ( ASX:SGQ ) Mt Alexander Project. The company’s other projects include the Narndee Igneous Complex (Ni-CuPGM), Unaly Hill South (Au), Kiabye Well (Au), Leinster Nickel Project (Ni), Windimurra Igneous Complex (Ni-Cu-PGM, Li) and Ryans Find (Au, Ni-Cu-PGM).
Competent Persons Statement
The information in this announcement that relates to Exploration Results and other technical information complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and has been compiled and assessed under the supervision of Dr Caedmon Marriott, Managing Director of Aldoro Resources Ltd. Caedmon is a Member of the Australasian Institute of Mining and Metallurgy. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Caedmon consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
Disclaimer
Some of the statements appearing in this announcement may be in the nature of forward looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Aldoro operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward looking statement. No forward looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Aldoro’s control.
Aldoro does not undertake any obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Aldoro, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward looking statement. The forward looking statements in this announcement reflect views held only as at the date of this announcement.
This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Aldoro. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.
www.aldororesources.com
T: +61 475 116 798