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Norfolk Metals (ASX:NFL) focuses on uranium exploration in South Australia and Argentina. The company advances its flagship Orroroo uranium project with a recent maiden drill program that intersected a uranium-bearing floodplain, boosting confidence in the potential of the project.
The Orroroo uranium project consists of three exploration licenses - EL6552, EL6814, and EL6948 - spanning a total of 723 square kilometers, situated roughly 274 kilometers northwest of Adelaide, South Australia. The large land holding is divided into three project areas named Orroroo, Johnburgh and Black Rock.
As it continues to review complementary projects with plans to expand its uranium project suite, Norfolk signed an exclusivity agreement with Green Shift Commodities (TSXV:GCOM) to acquire Las Alteras uranium project in Argentina. Las Alteras is surrounded by non-JORC foreign estimates at URAmerica’s Meseta Central deposit (19.1 Mlbs U308), CNEA’s Cerro Solo deposit (11.49 Mlbs U308), ISO Energy’s Laguna Salada deposit (10.1 Mlbs U308), along with the Cerro Condor and Los Adobes historical uranium mines.
Company Highlights
- Norfolk Metals is an ASX-listed uranium-focused explorer with assets located in South Australia (Orroroo uranium project), Argentina (Las Alteras uranium project) and Tasmania (Roger River gold/copper project).
- The primary focus is on advancing the Orroroo uranium project located in the Walloway Basin in South Australia. Orroroo comprises three granted exploration licenses, which together cover 723 square kilometres. of contiguous tenements. The land holding is divided into three project areas named Orroroo, Johnburgh and Black Rock.
- Orroroo has geological similarities to well-endowed South Australian uranium producers such as Boss Energy’s Honeymoon Uranium project and Heathgate Resources’ Four Mile mine.
- Norfolk completed a maiden drill program at Orroroo which delineated uranium in 10 of the 17 holes with grades reaching as high as 796 ppm. The maiden drill program also identified a uranium-bearing floodplain 50 meters south of the Wongway Creek Target.
- In Argentina, Norfolk has signed an exclusivity agreement with Green Shift Commodities to acquire Las Alteres uranium project, a project surrounded by multiple uranium deposits and historical mines in every direction including the Cerro Solo government owned deposit
- The Roger River Project comprises two granted exploration licenses, which together cover 261 square kilometers, located in Tasmania. The project is prospective for gold and copper.
- Norfolk is evaluating other projects for acquisition, which includes complementary projects to the South Australian uranium project suite.
- Uranium prices are likely to remain firm on the back of supply deficit. Kazakhstan, the world’s largest uranium supplier, has warned of lower production in 2024, while demand continues to remain high as governments around the world embrace nuclear power to reduce reliance on fossil fuels.
This Norfolk Metals profile is part of a paid investor education campaign.*
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NFL:AU
Second LiDAR interpretation identifies additional compelling targets at GDM’s Devils Mountain Gold Project
Highlights:
- GDM purchased the Gympie 2023 LiDAR dataset from the QLD Government, totalling 80 km2, covering EPM 26135, which lies directly SE of the historical gold mining town of Kilkivan.
- A comprehensive LiDAR interpretation was undertaken by specialists GeoCloud Analytics. The interpretation indicated a total of 486 potential historical mine workings, including 40 adits, 16 shafts and 430 other prospecting pits. Many of the old workings were not previously known to GDM.
- The new LiDAR results, combined with previous exploration data has significantly enhanced GDM's dataset, used to identify and prioritise gold bearing targets for further follow-up exploration work.
Chief Executive Officer, Justin Haines, commented:
“This second LiDAR dataset for Devils Mountain has allowed GDM to get a more accurate picture of all of the historical gold mining at Kilkivan prospects area. Shafts and adits are good indicators of the presence of significant gold and base metal mineralisation, because of the effort invested in producing those old excavations. The LiDAR results confirm GDM’s strategy of targeting areas of abundant historical workings and applying modern exploration technologies to those targets”.
Devils Mountain Project
GDM’s Devils Mountain Project comprises 5 x EPMs (17685, 26062, 26135, 26709, 28438) located ~30 km northwest of Gympie (see Figure 1). The Project lies in the Palaeozoic Gympie and Wandilla Provinces of the New England Orogen in southeast Queensland.
Devils Mountain is highly prospective for gold and is host to an abundance of mineral occurrences. In addition to gold, the area contains occurrences of copper, silver, lead, zinc, tungsten and mercury, as well as a number of manganese deposits (see Figure 2). It’s geological setting has many similarities to the nearby Gympie goldfield.
Figure 1: Devils Mountain Gold Project Location Map
Figure 2: Devils Mountain Project Geology and known historical mining prospects
LiDAR Survey Data
LiDAR specialists GeoCloud Analytics purchased part of the Gympie 2023 LiDAR dataset from the QLD Government on behalf of GDM, over an 80 km2 area in the western part of the Devils Mountain Project, covering EPM 26135. The resolution of the raw data is 1 m. GeoCloud Analytics reprocessed the point cloud data to yield a 50cm resolution bare earth Digital Terrain Model (DTM).
The LiDAR survey was flown in 2023 with a minimum average density of 10.5 points per square metre with an average flying height of 1933m above ground level. Details of the survey are provided in the JORC Table 1, see Appendix 1.
A number of new LiDAR images were generated by GeoCloud Analytics in order to extract more information about the project. The enhanced 3D datasets and 2D images produced have facilitated detailed interpretations, allowing the identification of historical mine workings, prospecting pits, geological structures, access tracks and other surface features such as drill pads.
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This article includes content from Great Divide Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Gidji Drilling Delivers More Gold Results
Miramar’s 80%-owned Gidji JV Project (“Gidji” or “the Project) is located approximately 15 kilometres north of Kalgoorlie and surrounded by multiple gold mining and processing operations, including Northern Star Resources Limited’s Kalgoorlie gold operations (Figure 1).
Miramar’s Executive Chairman, Mr Allan Kelly, said the first results from the current programme confirmed and extended the extensive supergene gold footprint discovered in previous drilling.
“The new results increase the footprint of the high-priority Blackfriars target, which shares several similarities to the multi-million-ounce Paddington gold deposit along strike to the north, including its location at the contact between the Boorara Shear Zone and the Black Flag Beds,” he added.
“This is the first systematic drilling at Gidji after a break of almost 3 years whilst, at the same time, the Australian dollar gold price has risen from $2,500/oz to well over $5,000/oz,” Mr Kelly said.
Current and previous drilling has outlined an extensive area of flat-lying supergene gold across multiple targets at Gidji, despite the stripped weathering profile under the Gidji Paleochannel.
The current drilling programme consists of approximately 180 aircore holes and aims to further refine bedrock drill targets under the younger transported paleochannel sediments.
Drilling commenced before Easter, was suspended due to heavy rainfall and recommenced on 6 May.
Figure 1. Gidji JV Project (yellow outline) and Boorara Shear Zone(white) in relation to Kalgoorlie.
Figure 2. New aircore drilling results (squares) in relation to previous drilling (circles).
Table 1. Significant drill results from the first 34 aircore holes at Gidji JV.Note: results reported above 0.25g/t Au lower cutoff
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Asra to Secure 100% Ownership of Mt Cutmore at Leonora North Gold Project
Highlights
- Binding Term Sheet executed to acquire the remaining 49% of the Mt Cutmore prospects located at the Mt Stirling Leonora North Project subject to conditions, delivering 100% ownership upon completion.
- Consolidation of ownership aligns with Asra’s strategic focus to unlock further value within the Leonora Gold Project.
- Acquisition will strengthen Asra’s position in the renowned Leonora gold district, proximal to major operating mines and infrastructure.
The Project is situated in the Eastern Goldfields Super terrane of the Yilgarn Craton, where the area is known for orogenic gold deposits. The Project has a JORC (2012) Mineral Resource Estimate totalling 152,000 oz at 1.7g/t Au and is located within close proximity to significant gold mines, including Vault Minerals' 6Mtpa Au King of the Hills mine and Genesis Minerals' 2Moz Leonora and Kookynie operations.1
Asra Minerals Chief Executive Officer, Paul Stephen:
“Securing 100% of the Mt Cutmore prospects within the Project will be a pivotal step for Asra. This consolidation will enhance our strategic footprint in a highly prospective and active gold region.
Following the recently announced raise and with drilling permits in hand, we will be well placed to commence drilling the compelling, high-priority targets. This transaction will streamline our portfolio and provide a clear pathway to unlock value for our shareholders through focused exploration in one of WA’s premier gold districts.”
The Transaction consideration comprises of $200,000 cash and the issue of 75,000,000 fully paid ordinary shares in Asra at a deemed issue price of $0.002 per share (“Shares”) upon satisfaction of the conditions precedent of the Agreement (refer to the summary of the Agreement below for further details). The issue of the Shares is subject to shareholder approval under ASX Listing Rule 7.1, which Asra intends to seek at its upcoming annual general meeting, scheduled to be held in late May 2025.
Figure 1. Mt Stirling Leonora North
Mt Stirling Leonora North Project
The Mt Stirling Leonora North Project is strategically located approximately 40km northeast of Leonora within Western Australia’s Eastern Goldfields. This region is renowned for hosting numerous multi-million-ounce orogenic gold deposits and significant mining operations.
The Project is situated just 5km from Vault Minerals’ (ASX:VAU) major 6Moz King of the Hills mine and its recently expanded processing hub, which is the largest in the Leonora district. It is also proximal to Genesis Minerals’ (ASX:GMD) extensive 2Moz Leonora operations. The Project currently hosts a JORC (2012) Mineral Resource Estimate totalling 152,000 oz at 1.7g/t Au. This Mineral Resource Estimate provides a valuable foundation for the Project and future exploration efforts aimed at expansion.
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This article includes content from Asra Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
