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Exciting High Grade Gold & Base metals on Granted Mining Lease. Up to 12.64 Cu (%) & 4.12g/t Au
Far Northern Resources Limited (ASX: FNR, “Far Northern Resources”, “the Company”) is pleased to provide an update on exploration activities at the Empire Project, located 34km west of Chillagoe in North Queensland Australia. The Empire Mining Lease (Empire) covers an area of 252 (ha). It has a JORC 2012 Resource and will be subject to 5000m of drilling over the next two years.
HIGHLIGHTS
- Empire has a current Mineral Resource Estimate of (22,505 AuOz), refer to prospectus page 14.
- New reconnaissance (undertaken just prior to Christmas 2023 and for which assay results have now been received) away from this known resource has commenced with high grade copper and gold rock chip samples on mineralized outcrops and old prospector scratching extending the strike of known mineralization by a further 750m.
- High Grade Copper and Gold rock chips have returned assays of up to 12.64% Cu (FNRRCS24001) and 4.12 g/t gold (FNRRCS24002) (see Table 1)
- Other individual surface samples have returned copper grades of 11.59% Cu, 11.89% Cu, 9.60% Cu, 6.53% Cu and 2.61% Cu (%) (see Table 1)
- Other individual samples have returned gold grades of 0.78g/t, 0.92g/t, 1.19g/t, 2.16g/t, 0.75g/t, 1.68g/t and 0.70g/t (see Table 1)
The Managing Director of Far Northern Resources , Cameron Woodrow said:
“Far Northern Resources has been exploring this area for some time and it is pleasing to release some very exciting new copper and gold results which clearly show there is a much bigger picture at play at our Empire Project.
We are excited to now have the funding to get on the ground and drill out the potential for what is shaping as a nice copper-gold project in a proven copper-gold mining area”.
Enquires:
Cameron Woodrow
cwoodrow@farnorthernresources.com
Roderick Corps.
rcorps@farnorthernresources.com
Empire Copper Gold Project Previous exploration activity at Empire including drilling and soil geochemistry prove a very strong geochemical signature in the associate elements of Au-Ag-Bi-Cu-Mo-Sb-W typical of copper-gold porphyry systems. So far drilling has focussed only on the stockworks where an open pit mineable resource has been defined. Our latest rock chips show these stockworks extend for at least another 750m and our geologist believes these could be the part of a bigger porphyry style target.
Figure 1 Empire Mining Lease - Location of Empire Stock Work, Pinnacle & United Empire.
Click here for the full ASX Release
This article includes content from Far Northern Resources, 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.
FNR:AU
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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