Aldoro Resources Limited provided an exploration update for the VC1 and VC3 targets at the Narndee Igneous Complex (NIC, The Project). Six new diamond holes and eight RC RC holes were completed at VC1 to the end of 2021. Assay results have been returned for NDD0003, NDD0004, NDD0008, NDD0015, and NDD0016 at VC1, and NDD0005 at VC3.

Six diamond drillholes and eight RC drillholes have been completed at VC1 since the previous update. NDD0015 and NDD0016 were part of that program. The visual results and context of the remainder of the holes will be reported when the relevant datasets have been interrogated, QAQC checked, and 3D modelling completed to provide a clear interpretation of the results.

NDD0005 was drilled to a depth of 654.9m. The hole was extended as it re-entered a high MgO ultramafic package with occasional disseminations of magmatic sulphides after passing through the VC3 target. Laboratory assay results confirm the hole ended in 31.3% MgO and 0.22% Ni, demonstrating the high prospectivity of this area, particularly at depth.

The VC3 EM target was intersected at approximately 380m downhole. The anomaly appears to be associated with an internal raft of basalt and metasediments hosted by high MgO ultramafics and mafics. The rocks immediately below the metasediment contain blebby and disseminated magmatic sulphide.

This zone returned 7.0m at 0.22% Ni and 0.06% Cu from 389m downhole. A large loop high power electromagnetic survey is ongoing over this area. This survey aims to detect deeper or very high conductance targets, which may have been difficult to see with the VTEM system.

The Priority 1 VTEM survey is on schedule for completion in early January. The survey will screen the Kiabye Greenstone Belt (KGB) along the western margin of the NIC. The KGB is interpreted to be a possible feeder or basal unit of the NIC.

This represents a high priority exploration target for nickel- copper sulphide deposits. A large loop HPFLTEM survey is ongoing over the VC1, VC3, and VC11 target areas. This survey aims to detect large, highly conductive, and possibly deeper metallic bodies that would have been difficult for the VTEM system to detect.

The results of this program will be reported in detail as they come to hand.