New explorer Aldoro Resources is not buying into the latest trends in its bid to make fresh nickel sulphide discoveries in WA.
New base metals finds on the Fraser Range and in the Paterson province in recent years have inspired a rush of nearology plays seeking to latch onto the next big thing, but Aldoro director Bill Oliver says he is happy to look for new discoveries in the northern Goldfields’ historic nickel district.
While calling its Cathedrals project near Leonora a nearology effort is unavoidable given its proximity to St George Mining’s discovery of the same name, Aldoro is also ramping up efforts to explore a tried and tested region at its Leinster project.
Located along strike from BHP’s Leinster operations and freshly approved Venus mine to the north and Talisman Mining’s Sinclair mine to the south, Mr Oliver said new ideas could help unlock long-overlooked geological secrets.
“We’ve seen some historical reports that gave us the impression there was more there to be done,” he said.
“BHP up at Venus at Leinster itself (discovered in 2012) shows you that these older belts and older projects haven’t had as much work as perhaps they need to.
“Historically they may not have had the same sort of rigour placed on them when there are more attractive targets.
“In that area you’ve got Sinclair one side and Leinster the other, there’s probably some pretty obvious places where people would explore ahead of these ones.
“People are looking for the next nickel frontier and obviously people like to be near the latest big thing, but I think some of the Goldfields ground hasn’t had that continuity of exploration.”
Aldoro is collating information from an aeromagnetic survey at Cathedrals while a ground electromagnetic survey at its Leinster project is expected to generate targets for drilling next year.
Mr Oliver said Aldoro would target its exploration spend where the best targets emerged from early work.
While nickel prices have dipped in the past few months along with those of other base metals, Mr Oliver said the emergence of nickel’s new status as a battery metal was inspiring new investment in the long-depressed commodity.
“Specifically sulphide nickel, which generates a higher purity product, seems to be of more interest going into that battery space in the future as the (electric vehicle) story develops,” he said.
“That certainly breathed some life back into nickel projects and specifically nickel sulphide projects because people are starting to realise just how much nickel and copper are used in the battery world.”
Aldoro was trading even at 15¢ yesterday.