Noronex deep diamond drilling at its Fiesta Project in Namibia, where intercepts of up to 1.0% copper and 21 grams per tonne silver have been recorded.
The campaign forms part of a 7,000-metre reverse circulation and diamond drilling program being executed under the company’s Strategic Alliance with South32 across the Kalahari Copper Belt.
At the Western Lens of the Fiesta deposit, hole 25FIEDD026 returned two key intercepts: 11 metres grading 0.5% copper and 18 g/t silver from a depth of 371 metres, and 6 metres at 0.7% copper and 15 g/t silver from 455 metres.
Shallow mineralisation was also intersected in an open-hole water bore drilled to support the campaign.
Hole 25FIEWB025 encountered 9 metres at 0.63% copper and 21 g/t silver from 120 metres, and a further 3 metres at 1.0% copper and 4 g/t silver from 137 metres.
With drilling at Fiesta completed in July, the diamond rig has now been mobilised to the Oosterwald Prospect, targeting a second domal structure within the company’s broader Namibian Humpback Copper Project.
During the same quarter, Noronex completed the sale of its non-core Dordabis Copper Project for A$200,000 (about N$2.5 million), a move that helped lift the company’s cash reserves to A$1.47 million by the end of June.
The quarter also saw Noronex spend A$151,000 on exploration and evaluation activities and A$40,000 on corporate costs, resulting in a total net operating cash outflow of A$191,000.
Noronex Managing Director and CEO Victor Rajasooriar, who took the reins in May, said he was impressed by the scale and potential of the company’s assets after visiting the Namibian and Botswana projects alongside Chief Geologist Bruce Hooper.
“I was delighted to take up the opportunity to become Noronex’s new Managing Director in May.
Having visited our key projects in Namibia and Botswana with our Chief Geologist, Bruce Hooper, in recent weeks I have been impressed by the size of the potential prize in front of us,” Rajasooriar said.
“The Kalahari Copper Belt is without question one of the most compelling opportunities for large-scale copper discoveries in a world that desperately needs new long-term sources of supply.
The success of companies like Sandfire and MMG in this belt gives us a clear model for what can be achieved. The Noronex team has done a fantastic job in assembling a world-class exploration package in this under-explored district and securing a Strategic Alliance with one of the world’s leading global miners, South32.
This puts us in a very strong position moving forward and I am looking forward to building on these outstanding foundations to deliver significant value for our shareholders.”
Noronex is also pursuing early-stage uranium exploration on its Namib Area tenements in western Namibia.
These tenements are considered prospective for alaskite-hosted uranium systems, and exploration efforts during the quarter focused on regional sampling and structural mapping targeting geological styles similar to those of the nearby Rössing and Husab uranium mines.
With assay results from both Fiesta and Oosterwald pending, fieldwork is expected to continue through the second half of 2025 as Noronex advances its dual-country strategy across the Kalahari Copper Belt and parallel uranium exploration in Namibia.
