Noronex (ASX:NRX) red hot in the KCB

Noronex has the next phase of exploration underway across wholly owned tenements in the Namibian end of a Kalahari Copper Belt proven as a major future source of global production, and has the contract signed for a maiden 4000 metre drilling campaign over its Humpback Project to begin by the end of the month.

The KCB is well known to hold immense copper deposits, and Noronex was quickly able to secure full funding for a programme focused on high-priority exploration targets at the Fiesta and Blowhole prospects, with potential in the palm to bring a third producer to the belt.

Noronex Executive Director James Thompson said it was an exciting moment for the company to announce a drill programme over its fully owned projects.

“This area has been underexplored, and we’re eager to follow up on historical intercepts, such as 8m @ 2.5% Cu and 9m @ 1.8% Cu, 82 g/t Ag. By testing a number of targets we’ll gain a more detailed understanding of the scale of mineralisation in this area,” Mr Thompson said.

“Meanwhile, at Blowhole, we’re conducting the first-ever drill program. Our focus is on targets defined on a sheared fold closure. Blowhole is located near the Botswana border and is along the same mineralised horizon as recent copper discoveries and projects across the border,” he added.

Humpback prospects

Anomalous intercepts from the Fiesta prospect have demonstrated the hallmarks of major deposits in the region, including a 167Mt @ 2.0% copper resource to the east, and Noronex has defined a number of key targets within and along strike of mineralisation consistently developed over 3.5 kilometres.

And the structural targets defined at the Blowhole prospect sit along strike from Cobre Resources’ high-tenor intercepts in neighbouring Botswana, a prospective horizon which notably lies under shallow cover and has been demonstrated to continue into Namibian soil.

The Kalahari Copper Belt recently welcomed its second operating mine, and Noronex will aim to further prove up the region’s capabilities as a supply gulf of the red metal continues to threaten a short-circuiting of global electrification.

Noronex projects and new application areas

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Sector: Basic Materials

Industry: Copper

Employees:

Noronex Limited engages in the exploration of mineral properties in Namibia and Canada. It primarily explores for base, precious metals, and copper. The company's flagship project is the Humpback-Damara copper project in Namibia. The company was formerly known as Lustrum Minerals Limited and changed its name to Noronex Limited in November 2020. Noronex Limited was incorporated in 2015 and is based in Subiaco, Australia.

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