noronex

White Metal's Partner Noronex Commences Airborne EM Survey on the DorWit Copper-Silver Project, Namibia

 White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to announce that its partner Noronex Ltd. (ASX: NRX) ("Noronex") has commenced an airborne electromagnetic ("EM") geophysical survey over the DorWit Copper-Silver Project (the "Property" or the "Project"), located about 150 km east of Windhoek, Namibia. The EM survey is the first ever state-of-the-art airborne survey to be undertaken within the Project area. The use of the significantly improved modern technology and geophysical interpretation is intended to generate new exploration targets to expand on the 150,000 m of historical reverse circulation and diamond drilling that has already identified numerous sedimentary hosted Cu-Ag deposits.

Michael Stares, President & CEO, commented, "We are very pleased to see our exploration partners have initiated the 2021 program and specifically this airborne survey over the Witvlei and Dordabis properties. The earn-in agreement we completed Noronex confirms our project generator model which has been successful in finding a quality partner to advance the Project while maintaining a 25% interest for the Company."

The geophysical contractor NRG will commence flying the Witvlei Property (EPL7028 and 7029) and then move to the Dordabis Property (EPL7030). Noronex is also expecting to update the historical JORC 2012 mineral resource estimates which is currently being completed by MSA Group, with initial results expected by February 2021.

White Metal completed the earn-in agreement (the "Agreement") with a subsidiary of Noronex which novated the rights under the original earn-in deal with RZJ Capital Management LLC under which White Metal previously received a C$100,000 cash deposit. Under the Agreement, Noronex can earn up to 70% of the Project by meeting certain payment milestones and following feasibility studies, has the right to acquire White Metal's remaining interest of 25% (see Company news release dated October 16, 2019).

The transaction has resulted in the additional payment of C$500,000 to White Metal via the issue of C$250,000 in shares in Noronex (represented by 5.5M Noronex shares) and the payment of C$250,000 in cash. Noronex will also take over the funding obligations under the previously announced earn-in arrangement.

White Metal looks forward to working with Noronex as it embarks on a busy first year exploration program that seeks to build on the extensive (150,000 m) drill hole database which successfully located numerous Kalahari Copper belt deposits in the past. The work program will include geophysics, including an aerial EM survey of the project areas (which has never been undertaken in the past) and IP surveys to trace potential extensions to known deposit areas that have not been tested with drilling. Noronex is also targeting updated JORC (2012) resource estimates and based on the outcome of the various surveys an additional drilling program is also planned for 2021, aimed at expanding the mineral resource base.

About the DorWit Copper-Silver Property

Exclusive Prospecting Licences 7028, 7029, and 7030 (DorWit Property), are located about 150 km east of capital city of Windhoek, Namibia and cover about 65 km of prospective stratigraphy in the Kalahari Copper Belt which extends eastward into Botswana where several major copper deposits occur and are being financed at present (e.g., Cupric Canyon Capital news release dated February 25, 2019). Six historical copper deposits occur within these three licences along with other zones with anomalous copper in historical drill core intercepts which the Company believes can be expanded upon through future exploration (see Company news release dated June 18, 2019).

Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.

About White Metal Resources Corp (TSXV: WHM):

White Metal Resources Corp. is a junior exploration company exploring in Canada. For more information please visit the Company's website at www.whitemetalres.com.

On behalf of the Board of Directors of White Metal Resources Corp.

"Michael Stares"
Michael Stares
President & CEO, Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:
Michael Stares
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 358-2420 Fax:(807) 475-7200

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72097

News Provided by Newsfile via QuoteMedia

The Conversation (0)
True North Copper

TNC Operational Update - Cloncurry Copper Project’s Mining Restart

True North Copper Limited (ASX:TNC) (True North, TNC or the Company) is pleased to provide an operational update on the mining restart at its 100% owned Cloncurry Copper Project (CCP).

Keep reading...Show less
Copper ore in foreground, with world map showing countries in copper on black background.

Copper Reserves: Top 5 Countries (Updated 2024)

Copper has become a hot topic due to its role in the green energy transition and its necessity for urbanization. However, the lack of incoming supply in the long term has experts concerned.

The term “peak copper” was coined because some experts believe that copper reserves may be diminishing; as a result, it’s prudent to know the top copper reserves by country when considering investing in the mining industry.

The Copper Development Association pegs current known worldwide copper ore resources at nearly 5.8 trillion pounds, of which only about 0.7 trillion pounds, or 12 percent, have been mined throughout history. Plus, nearly all of that mined copper is still in circulation, as the red metal’s recycling rate is higher than that of any other engineering metal.

Keep reading...Show less
Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces it has commenced mobilization of its camp, fuel, equipment and second drill to its camp location on the Aberdeen Uranium Project, located adjacent to Orano's 133 million pound Kiggavik uranium deposit in the Thelon Basin, Nunavut. Forum plans a 10,000 metre drill program just two months away in June to follow-up on its successful drill program in 2023. Four drill holes into the Tatiggaq deposit intersected up to 2.25% U3O8 over 11.1 metres over a 200-metre strike length. The structure hosting uranium mineralization extends for 1.5 kilometres within a highly altered uranium mineralized system.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Copper bars.

Copper Crunch Coming as Demand Rises and Mine Supply Falls Short

Since the advent of electricity, copper has played an essential role in energy generation and transmission. It will be similarly unreplaceable as the world moves away from fossil fuels to more sustainable sources of energy.

Pierre Lassonde, founder and chair emeritus of Franco-Nevada (TSX:FNV,NYSE:FNV), emphasized this during the "Where Will the Money Come From?" panel at the Prospectors & Developers Association of Canada (PDAC) convention.

“Copper is required for everything, and today 80 percent of terminal energy is carbon based and only 20 percent is electricity," he said. "If we want a green world, that has to be flipped around, where 80 percent of terminal energy has to be electricity. And the metal that carries electricity is copper in every which way. That is the key metal."

Keep reading...Show less
Avrupa Minerals CEO Paul Kuhn

Avrupa Minerals CEO Eyes Joint Ventures for VMS Projects in Europe

Avrupa Minerals (TSXV:AVU,OTC Pink:AVPMF,FWB:8AM) has achieved exploration milestones at the fully funded Alvalade copper-zinc volcanogenic massive sulfide project in Portugal and the Slivova gold project in Kosovo. CEO Paul Kuhn is keen to look for potential joint ventures to advance the company's projects.

“The idea is that we start the early phases of the project," he said. "We do the early exploration and hopefully discovery, which we've done at Slivova in Kosovo and the Sesmarias (target) in Portugal, and get them to a point where they are 'venturable.'”

Joint ventures, according to Kuhn, work better by allowing Avrupa and its partners to work together and resolve any problems related to exploration.

Keep reading...Show less
World Copper CEO Gordon Neal

New World Copper CEO Shares Plans to Advance Zonia Copper Project to Production

World Copper’s (TSXV:WCU) newly appointed CEO Gordon Neal wants to focus on advancing the Zonia copper oxide project in Arizona, US, to the development stage and transforming World Copper into a US-centric copper company.

“The US government, the Department of Energy, has determined that copper is a critical metal. And so there’s lots of attention and funds available for companies that have a US-domiciled project,” he said.

World Copper’s Zonia project has undergone extensive historical exploration and mine development planning, with a historical 2018 preliminary economic assessment and 2017 mineral resource estimate that show excellent economics, a mine life of 8.6 years and an average annual production rate of 49.1 million pounds.

Keep reading...Show less

Latest Press Releases

Related News

×