Norfolk Metals: ASX-listed Uranium Explorer

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.

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