Noronex Poised for Copper Discoveries in Namibia's Kalahari Copper Belt

• Noronex is an ASX-listed Junior Explorer currently exploring copper deposits in Namibia.
• They have a small 10 million-ton copper resource east of Windhoek, Namibia, and a significant exploration package extending to the Botswana border.
• Noronex is focused on exploring sedimentary copper deposits in the Kalahari Copper Belt and aims to make significant discoveries to contribute to the world's growing need for electrification.

About Noronex Limited

Australian exploration company Noronex (ASX:NRX) is actively exploring large, high-grade sedimentary copper deposits in Namibia's Kalahari Copper Belt. With extensive experience and recent drilling success, Noronex could be on the path to making significant new copper discoveries in this highly prospective region.

Promising First Drill Results at Fiesta Project

Noronex recently commenced a 4,000m RC drilling program at its 100% owned Fiesta copper project, located west of the capital Windhoek. The first hole at Fiesta intersected a thick, high-grade zone of 45m at 0.8% copper and 23 g/t silver from 144m depth. This is one of the best copper intercepts drilled at Fiesta to date.

The broad intercept and shallow depth increase the potential for a large, economic deposit. Follow-up drilling is underway to extend the mineralization along strike and at depth. Previous drilling has also returned high-grade intercepts like 8m at 2.5% copper with up to 80 g/t silver.

Noronex aims to significantly expand the footprint of copper mineralization at Fiesta. The deposit style consists of flat-lying, extensive copper sheets that can extend for several kilometers in length and width. This presents an opportunity to outline a very large tonnage copper resource.

Exploring a Vast Copper-Prospective Region

Noronex holds a dominant position across 500km of the Kalahari Copper Belt in Namibia. This belt hosts several major mines just across the border in Botswana, including the new Khoemacau copper mine. However, exploration under the shallow Kalahari Desert cover on the Namibia side has been very limited.

Aeromagnetic surveys highlight the continuity of the prospective horizon which hosts copper deposits in Botswana into Noronex's ground. The company is methodically exploring this horizon using wide-spaced drill traverses under the relatively thin sand cover. There is abundant potential for Noronex to make further discoveries along the belt.

Upcoming Drilling on Botswana Border

Noronex is poised to commence drilling on several targets close to the Botswana border. These represent 'wildcat' targets with no previous drilling. Several structural traps have been delineated under cover which are considered highly prospective for copper.

The drill targets are located along the same geological trend which hosts several major deposits on the Botswana side of the border. Noronex will test around 70m below the surface, with results expected within weeks. Any discoveries made along the border would be considered game-changing for the company.

Advancing Existing Copper Resources

In addition to exploration, Noronex is advancing copper resources already defined at its Ondundu project, located 10km east of the capital Windhoek. The current inferred resource stands at 10Mt at 1.3% copper across three separate deposits.

Recent drilling has discovered new zones of copper mineralization outside the existing resource areas. Hole DD001 intersected 27m at 1.6% copper at the new Dehneim prospect. Ongoing drilling aims to significantly expand the global resource inventory from the current 10Mt level.

The proximal location to the capital provides advantages in terms of infrastructure for potential development. The company may look to fast-track these deposits into production to generate early cash flow.

Highly Credentialed Explorer at the Helm

Noronex has assembled an experienced board and management team to drive exploration programs and potential mine development. This includes veteran geologist Bruce Hooper as Chief Geologist, who has been involved in discoveries across five continents during his career.

The company is well funded, with tight capital management ensuring exploration programs continue despite recent tough market conditions. Noronex is leveraged to make further discoveries that could quickly re-rate the currently low market valuation.

Investors should keep a close eye on results from upcoming drilling activity, with Noronex firmly focused on unlocking the immense potential of Namibia's Kalahari Copper Belt. Further, high-grade discoveries have the potential to transform Noronex into Namibia's next major copper producer.

Reasons to Invest

Leveraged to Exploration Success - Noronex currently has a very low market capitalization of around $15 million. Any significant new copper discoveries made by the company could rapidly re-rate the share price upwards. Investors get substantial leverage to the upside if Noronex makes a major new find.

Large Strategic Landholding - The company controls over 500km of highly prospective ground along the Kalahari Copper Belt. This provides enormous potential to delineate extensive copper resources across multiple deposits, underpinning a major mining operation.

Nearby Major Mines De-risk District - The existence of multiple world-class copper mines immediately across the border in Botswana demonstrates the immense prospectivity of the belt. This significantly de-risks Noronex's exploration play.

Shallow Drilling Depth - The geology and copper deposits lie under just 50-100m of cover. This allows cost-effective exploration, with higher drilling success rates than in deeper terrains. Rapid drill target testing is possible.

Proximity to Infrastructure - Noronex's projects are all close to existing roads, rail, power and water infrastructure around the capital Windhoek. This provides a clear development path with low capex requirements.

Tight Capital Structure - The company has just over 100 million shares on issue. This means any exploration success should strongly leverage share value for investors. Noronex is tightly held with about 50% of the register held by the top 20 shareholders.

Strong Leadership - The experienced board and management team provide technical expertise in copper exploration and development. This boosts the company's chances of exploration success.

Early Cashflow Potential - The near-surface copper resources already defined offer potential for relatively quick mine development to generate early cash flow. This provides a platform for further growth through exploration.

Noronex offers investors outstanding leverage to exploration success in a highly prospective region close to infrastructure, with strong leadership at the helm. The risk-reward asymmetry looks compelling.