Noronex Limited (ASX: NRX) is an exploration company focused on discovering and developing high-quality copper assets in Namibia’s Kalahari Copper Belt. The company aims to leverage modern exploration techniques and strategic industry partnerships to uncover significant copper and silver mineralisation across its tenements. With a growing portfolio of highly prospective projects, Noronex is positioned to contribute to the increasing global demand for copper, a key metal in electrification and renewable energy technologies. The company’s Fiesta Project is in a world-class copper district that hosts major operations such as Khoemacau and Sandfire Resources’ (ASX: SFR) Motheo Mine. Recent drill results at Fiesta highlight the project’s potential to add substantial copper resources to the region, supporting the long-term growth strategy of Noronex.
The Kalahari Copper Belt: A Premier Mining Jurisdiction
The Kalahari Copper Belt, spanning parts of Namibia and Botswana, is regarded as one of the fastest-growing copper-producing regions globally. Recent developments in the region include Sandfire Resources’ Motheo Mine, which was discovered in 2016 and has since grown into a 55,000-tonne-per-annum copper producer. The presence of established infrastructure, experienced workforce, and supportive mining regulations further enhance the region’s attractiveness for new discoveries.
With global copper prices recently reaching US$4.80/lb, the timing of Noronex’s discovery is particularly favourable. The increasing demand for copper in electric vehicles, grid infrastructure, and renewable energy technologies underscores the value of high-quality copper projects such as Fiesta.
Drilling Results Confirm High-Grade Copper-Silver Zones
The latest drill results from the Fiesta project indicate strong mineralisation at depth, with key intercepts including: 5m at 1.4% Cu and 58g/t Ag from 249m depth and 33m at 0.8% Cu and 31g/t Ag from 265m depth. These intercepts are particularly significant as mineralisation was encountered right at the end of hole 25FIERC23, suggesting continuity and the need for further exploration.
Expanding the mineralised zone by over half a kilometre is a crucial development, reinforcing the potential size of the system. Noronex is now planning a diamond drilling campaign to define the full width and structure of the mineralisation and extend the strike further west, where the system remains completely open.
Future Exploration and Industry Interest
The next phase of exploration at Fiesta will involve a 2,000-meter diamond drilling program designed to enhance geological understanding and test deeper mineralisation targets. The company’s ongoing partnership with South32 (ASX: S32), which is funding the project through an earn-in agreement, underscores the industry’s strong interest in the potential of Fiesta.
Beyond the immediate drilling plans, Noronex is evaluating additional targets within its broader tenement package to uncover further mineralisation. The company is committed to a systematic approach, ensuring that each exploration step is backed by high-quality geological data and Noronex’s recent drilling success at the Fiesta Project marks a pivotal step in unlocking the full potential of this promising copper-silver system. The combination of strategic partnerships, targeted exploration, and a prime location within the Kalahari Copper Belt positions the company well to advance towards resource delineation and, ultimately, development.
As the company prepares for its next phase of drilling, investors and industry stakeholders will be watching closely. With continued exploration success, Noronex could be well on its way to establishing a significant copper resource that aligns with the growing global need for reliable and scalable copper supply.