Noronex (ASX:NRX) expand on Kalahari copper

With the Kalahari Copper Belt proven as a major source of future copper production, Noronex is upping its stake and has lodged two applications for full ownership for 1650 square kilometres of new territory covering prospective structures in the belt’s Namibian end.

The tenement package holds a number of targets ready for follow up and lies close to Noronex’s first ever drill campaign at the Blowhole prospect near the Botswanan border, along the same mineralised horizon as recent high-profile copper discoveries.

Historical drilling defined a number of anomalous prospects, lying untested and along strike from mineralised contacts, and a drill program will test the new target areas for large copper systems once granted.

Noronex expect it will be 12 months before final granting and access clears the way for field activities, but the company has plenty to explore in the meantime, with a package covering 8700 square kilometres with 3500km of applications in place across the highly prospective and underexplored region.

Drilling continues over its extensive copper territory, including over the Witvlei tenements at Daheim, the domal structure on its Snowball JV and is moving further east, targeting large copper systems over the recently granted Humpback project.

Kalahari copper

The KCB recently welcomed just its second operating copper mine at Motheo and is known to hold immense deposits under sand cover, a prize now reachable through modern exploration and mining techniques.

The low cost, 60ktpa copper and 1.6Mozpa silver metal Khoemacau mine is the exemplar of the region, and production there is expected to more than double for both metals across a 20-year mine life.

Commodity analysts continue to point towards slowing production growth and looming shortfalls not reflected in current spot prices for the red metal, but the actions of the majors continue to point towards a groundswell of future demand.

Noronex expect a maiden 4000 metre drilling campaign to begin over Humpback by month’s end as it looks to keep expanding its territory and resources in the red-hot copper belt.

Regional aeromagnetic image of the KCB with current 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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