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Daheim prospect delivers solid copper results for Noronex

Updated: Apr 16

Noronex has recorded solid results from its diamond drilling campaign at its Daheim prospect in Namibia. Credit: File

ASX-listed Noronex has been buoyed by the initial results of its latest diamond drilling campaign at the company’s Witvlei project in Namibia, with a 14m hit going 1.1 per cent copper from 109m at its Daheim prospect.

The 14m intercept includes a 3m section grading 2 per cent copper from 109m and was contained within a wider 135m segment going 0.33 per cent copper from 44m. Assays are still pending from below 278m.

The company says its latest assays confirm the size of the system at Daheim, with the hole crossing at a right angle of the initial wide intercepts demonstrating a thick pod of mineralisation. The recent drill program was designed to test the number and extent of parallel mineralised horizons in the central portion of Dalheim, where drilling last year uncovered 153m at 0.4 per cent copper from 34m, including 29m going 0.7 per cent copper.

A second diamond hole has been drilled 600m to the west in a bid to extend the known mineralisation and test a new region where a drill hole last year returned 3m going 2.1 per cent copper and 3m at 0.8 per cent copper. The second hole has been completed to a depth of 182m with assays pending.

Management says mineralisation is open at depth and to both the north-east and the south-west, with further drilling required for it to understand the size of the mineralised zone.

Subiaco-based Noronex hit the ASX board in late 2020, with the aim of using new technology and exploration techniques to unearth copper from its bundle of tenements in Namibia and Canada. It has continued to add to its original tenements and announced earlier this year that its total granted licence area in Namibia has increased by 138 per cent to 5637 square kilometres after new exploration prospecting licences were approved on the Kalahari copper belt.

The relatively underexplored belt spans about 1000km from central Namibia to the north-west of neighbouring Botswana through the Kalahari Desert and is notched with a high calibre of copper explorers and producers. They include Rio Tinto and Sandfire Resources, which paid $167 million four years ago to acquire a 53-million-tonne copper deposit going 0.9 per cent.

Noronex’s exploration package contains about 300km of prospective strike length and sits between the holdings of Rio and Sandfire. Sandfire has three mines in the same structure that Noronex is targeting.

The company has high hopes for Witvlei, where inferred and indicated resources from four deposits total 10 million tonnes at 1.3 per cent copper and where previous drilling has returned figures such as 27m at 1.6 per cent copper, including 10m at 2.5 per cent copper.

Noronex’s latest revelations caused an ASX ripple today, with the company’s share price jumping more than 78 per cent to a high of 0.025 cents in intraday trading, after closing at 0.014 cents yesterday.

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