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Noronex (ASX:NRX) updates market on Brazil exploration program

ASX News, Mining
ASX:NRX      MCAP $6.147M
11 January 2022 15:14 (AEST)
Noronex (ASX:NRX) - Executive Director, James Thompson (left) and Chief Geologist, Bruce Hooper (right)

Source: Noronex/LinkedIn

Noronex (NRX) has updated the market regarding exploration activities across its Witvlei and Snowball projects in Namibia.

Witvlei

Drilling has resumed after the Christmas break and COVID outbreak with two rigs and more than 10,000 metres of the 12,000-metre program completed.

To date, 22 holes have been completed at the Okasewa prospect with a further four holes planned.

This drilling tested highly-ranked priority targets with the rig moving to the east to test sub-cropping copper mineralisation.

Diamond drilling will then be undertaken to follow up on the reverse circulation (RC) holes to define the style and character of the geology and mineralisation.

Snowball

Induced polarisation (IP) surveying has begun at the Kehora North prospect with one line of pole-dipole IP for 7.1 line kilometres completed.

A weak chargeability anomaly was defined in the centre of the prospect along strike from a weak copper-in-soil geochemical anomaly.

Mapping, geochemistry and ground magnetics will be undertaken prior to drill testing of the anomalous structure.

Gembocksveli

Results have been received from nine of the 22 holes drilled at Gembocksveli with grades confirming the geochemical anomalies.

Results so far include two metres at 1.2 per cent copper from 25 metres, five metres at 0.8 per cent copper from 98 metres and 16 metres at 0.4 per cent copper from 27 metres.

Assay turnaround time has been significantly impacted due to COVID with further results expected in the coming weeks.

Chief Geologist Bruce Hooper commented on the drilling programs.

“We are looking forward to receiving further results from the 2021 drilling and an exciting exploration program in 2022 with two rigs re-commencing at Witvlei to test strong geochemical targets and a first drilling program ever at the Snowball joint venture to test prospective IP targets that we have recently identified,” Mr Hooper said.

Noronex was steady on the market with shares trading at 8.2 cents each at 3:18 pm AEDT.

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