Noronex (ASX:NRX) heat up in the KCB

Noronex has pierced through the desert sand cover and successfully completed the first two holes of its drill campaign, following up on high-grade copper intercepts at fully owned projects in the Namibian end of the Kalahari Copper Belt.

The RC campaign has begun at the Fiesta project, following up on intercepts of 8m @ 2.5% Cu and 9m @ 1.8% Cu, 82 g/t Ag and will next turn for a maiden campaign at Blowhole, lying close to the Botswanan border and recent high-profile copper discoveries which have put a spotlight on the KCB as a major future copper producer.

Noronex Chief Geologist Bruce Hooper said it was great to be back and have the rig turning in Namibia, following up on historical, known copper mineralisation at Fiesta.

“Using Reverse Circulation drilling we are effectively getting through the expected Kalahari cover of 70m and intersecting the target horizon. We are now onto our third drill hole at the Fiesta Project with several more holes to come before the rig moves to the highly prospective Blowhole prospect where targets are defined on a sheared fold closure on a domal target. We look forward to putting the maiden drill holes into Blowhole,” Mr Hooper said.

Forward plan

Noronex have a number of defined key targets on hand, within and along strike of known mineralisation which is consistently developed over 3.5 kilometres.

Another eight more drill holes are planned at Fiesta before getting underway for six to ten at Blowhole, with initial assay results expected to begin focusing Noronex for its next round in the KCB.

And Noronex could soon have more KCB territory to explore, with two applications submitted for full ownership of 1650 square kilometres of new tenements covering prospective structures.

Kalahari Copper

While it has been made abundantly clear that the world needs more copper, where it comes from is more elusive.

The massive output of South America is flagged by governmental tax disputes and the potential of nationalisation efforts, while regional conflict has put a shroud over the massive potential output of Africa.

Both Namibian and Botswanan ends of the belt are some of the safest jurisdictions in the continent, and with the KCB just bringing in its second producing mine, appears likely as anywhere to be focused on as a key region for an increasingly critical metal.

Regional aeromagnetic image and Noronex projects

NRX.AX

NORONEXLTD FPO [NRX]

ASX

$0.016

$0.0000

0.00%

NORONEXLTD FPO [NRX]

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.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.