The bitumen C33 highway passes within 300m of the Project and a 220 kV hydropower transmission line passes within 7km of Kameelburg

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Kameelburg Project location map. (Credit: ALDORO RESOURCES LIMITED)

Aldoro Resources Ltd (“Aldoro”, “The Company”) (ASX: ARN) is pleased to announce that it has entered into a binding Heads of Agreement (the “Purchase Agreement”) with Logan Exploration and Investments CC and Okonde Mining and Exploration CC (together, the Vendors) to acquire an 85% interest in mineral permit EPL 7373, EPL 7372 and EPL 7895, which together make up the Kameelburg Project (the “Project”) in Namibia.

Aldoro Resources Chairman Troy Flannery commented: “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. We are comfortable with the project’s location in Namibia, which is ranked by the Fraser Institute as the 2nd most favourable jurisdiction (behind Morocco) on the
Policy Perception Index (PPI) across the African continent.”

The Kameelburg Project is located approximately 300 kms north of Windhoek (capital of Namibia) and 60 kms southwest of Otiwarongo along well-maintained bitumen roads. The Industrial Port of Walvis Bay is 355 kms southwest of Kameelburg, which are connected by the TransNamib heavy haul freight railway (passing within 2 km of Kameelburg).

Further, the bitumen C33 highway passes within 300m of the Project and a 220 kV hydropower transmission line passes within 7km of Kameelburg. The nearest township of Otiwarongo has a population of 28,000 and is located 60km away from the Project.

Source: Company Press Release