Noronex extends Namibia copper hunt into adjacent | Australian Markets

Noronex Restricted has been granted two strategic Botswanan prospecting licences on the Namibia-Botswana border, contiguous with and north-east alongside strike from its Damara copper project in Namibia.

Aeromagnetic knowledge reveals direct continuity of potential linear magnetic signatures placing eastwards throughout the border from Damara into each of the new licences, parallel with and alongside the interpreted northern boundary of the Kalahari Basin.

The new licences enclose nearly 1500 sq. kilometres of beforehand unexplored terrane within the footprint of the globally famend Kalahari Copper Belt. It’s interpreted as together with the important thing potential D’Kar Formation, which might be developed immediately on the basin margin.

The new tenements, held by Noronex’s subsidiary Senyetse Sources, embrace 721.87 sq. kilometres and 745.40 sq. kilometres respectively. Noronex will now switch the licences to a new fully-owned Botswanan subsidiary, Tilodi Metals Botswana P/L.

We’re very happy to be granted two new extremely potential exploration licences in Botswana that we utilized for in January this 12 months. With the potential of the Kalahari Copper Belt strongly endorsed this week by the lately introduced BHP earn-in deal with Cobre Ltd, we intend to proceed our search on the basin margin for the subsequent main copper discovery within the district – as with our latest drilling on the Damara project in Namibia.

One of the linear magnetic signatures within the Damara ground encloses and extends north-east into the new ground from Noronex’s present Otjiuapehuri prospect which is much less than 3km west of the border.

Noronex has drilled seven holes at Otjiuapehuri this 12 months. The company is awaiting pattern outcomes from laboratory testing.

Whereas the magnetics and gravity knowledge within the new licences reveals indeniable continuity of important structural trends throughout the worldwide border, magnetic trends exhibit growing distortion and complexity in the direction of the north-east that distinction sharply with their obvious structural regularity at Otjiuapehuri.

The geology of the world and basement options are poorly understood because the Botswana ground has by no means been drilled.

Noronex plans to undertake an orientation geochemical sampling program for the new ground after buying environmental approval for the work.

Extrapolating from the encompassing ground, the world is predicted to be lined by between 10 metres and 80m of Kalahari sands.

Half of the proposed sampling space is immediately north of Cobre Restricted’s Thul prospect in Cobre’s Kitlanya West copper project in Botswana, which is contiguous on its northern boundary with Noronex’s new prospecting licences.

Cobre lately introduced the execution of an earn-in settlement with a subsidiary of the BHP Group, the place BHP can earn a 75 per cent curiosity within the Kitlanya initiatives by spending up to US$25 million (A$39.75m) within eight years, focussed on the Kalahari Copper Belt’s northern basin margin.

The settlement follows Cobre’s participation within the 2024 BHP Xplor program, which funded a seismic survey at Kitlanya West.

Underneath the settlement, BHP will present a minimal of US$5m (A$7.95m) within two years, with a deliberate price range of US$7m (A$11.13m) for exploration of the Kitlanya initiatives.

The initial US$5m expenditure is set to start in April, with deep diamond drilling at Kitlanya West and additional seismic surveys to check areas of curiosity recognized in final 12 months’s seismic program.

Worldwide curiosity within the Kalahari Copper Belt is steadily growing and regardless of its confirmed prospectivity, the geology of its huge space requires appreciable work and time to decode.

Noronex’s work is steadily attaining this understanding, and will probably be fascinating to see what the upcoming geochemistry in its new ground reveals and what subsequent steps the outcomes may immediate.

The company can also be seeking to kick off more drilling at its Namibian Fiesta goal space within the southwest extremity of its Namibian Humpback project, the place it stays optimistic about what the subsequent part of deeper diamond drilling can ship.

Its latest hit from Fiesta reported in January ran 16m at 1 per cent copper and 33 grams per tonne (g/t) silver from 158m, together with 7m going 1.5 per cent copper and 54g/t silver from 161m.

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