Noronex Fires Up Uranium Ambitions in Namibia with Etango North Spectrometry Survey

Key Highlights:

• Spectrometry survey launched at Etango North Uranium Project in Namibia’s uranium-rich district
• Target area lies along strike from Bannerman Energy’s massive 225Mlb Etango deposit
• Survey spans 244-line km and leverages AI to pinpoint high-potential uranium targets
• CEO Victor Rajasooriar signals multi-asset growth strategy across uranium and copper
• Noronex shares up 7.69% to $0.014 on June 19, 2025
  
   

Noronex Limited (ASX: NRX) is stepping up its uranium exploration game with the launch of a comprehensive spectrometry survey at its Etango North Uranium Project in Namibia. Located within one of the world’s premier hard rock uranium districts and just 3 km north of Bannerman Energy’s flagship 225 million pound U₃O₈ Etango deposit, the Etango North license (EPL 6776) puts Noronex squarely on the map of global uranium hopefuls.

The spectrometry program spans 244-line kilometres with survey lines spaced 80 metres apart, targeting structurally favorable zones along mineralised Alaskites—rock formations associated with high-grade uranium in the region. The project is being conducted by Terratec Geophysical Services Namibia and is expected to wrap up within six weeks. This marks a major step in Noronex’s push to unlock the uranium potential in Namibia amid booming global interest in nuclear fuel.

“This exploration program has the potential to deliver plenty of upside for shareholders,” said Victor Rajasooriar, Noronex Managing Director & CEO. “The Etango North Project offers outstanding prospectivity for uranium discoveries and represents a further exciting string in the Company’s bow alongside our copper exploration tenure in the Kalahari Copper Belt and Canada.”

Rajasooriar emphasized the strategic alignment of Noronex’s uranium focus with global green energy trends and favorable uranium pricing. He added that the spectrometry results will drive follow-up geochemical surveys and possible drilling at priority anomalies identified through AI-assisted analysis.

Mapping the Future with AI

Noronex’s approach to exploration is far from traditional. The company has employed Artificial Intelligence and Neural Network models on remote sensing data to identify high-potential zones. Techniques such as fuzzy logic searches, principal component analysis, and random forest classification were applied to delineate zones of interest, particularly areas with flat-lying Alaskites and favorable stratigraphic and structural settings.

Preliminary results have already flagged mineralised trends extending into the license area from adjacent deposits. Rajasooriar noted: “The AI interpretation work has given us clarity on the subsurface potential of this terrain. It’s a perfect example of using advanced technology to de-risk early-stage exploration.”

Namibia: A Fertile Ground for Uranium

Namibia continues to rank among the top jurisdictions for uranium exploration and production, hosting giants like the Rossing and Husab uranium mines. Etango North lies in close proximity to these producing assets, within stratigraphic units that mirror the geology of its more advanced neighbors.

The project is part of a joint venture, where Noronex can earn up to an 80% interest in EPL 6776. The company remains the manager and operator of the JV and intends to build momentum following the spectrometry campaign. Historical drilling in the region has been sparse, with only a handful of shallow air-core holes drilled, offering Noronex a rare first-mover advantage in a region with known mineral endowment but limited modern exploration.

Copper Roots, Uranium Wings

While uranium is grabbing headlines, Noronex continues to hold a robust portfolio of copper assets across Namibia, Botswana, and Canada. The company boasts a JORC 2012 Resource of 10Mt @ 1.3% Cu at its Witvlei Project in Namibia. Notably, Noronex has strategic ties with South32, which has the right to earn into Noronex’s copper projects by funding exploration up to A$4 million per year over five years.

This dual exposure to two critical minerals—copper and uranium—positions Noronex uniquely in the global energy transition narrative. Both metals are vital to decarbonization and electrification, themes that are dominating resource investment flows globally.

Stock Snapshot:

As of 11:38 AM AEST on Thursday, June 19, Noronex shares (ASX: NRX) were trading at $0.014, up 7.69% for the day. The company has a market cap of $7.82 million, a 52-week range of $0.010–$0.025, and a 1-year return of +27.27%.