Noronex’s Fiesta Project Delivers Another High-Grade Copper-Silver Intercept in Namibia

Key Highlights

• New intercept: 16m @ 1.3% Copper Equivalent (CuEq), including 7m @ 2.0% CuEq.
• Mineralization extended 500m west, adding to a 4.5 km copper-silver system.
• Drilling campaign funded by South32 under an earn-in agreement.

Noronex Limited (ASX: NRX) has announced further exploration success at its Fiesta Copper Project in Namibia’s Kalahari Copper Belt, with the discovery of a new wide, high-grade copper-silver intercept. The latest drill results underscore the project’s potential as a significant copper-silver system, now spanning over 4.5 km.

New High-Grade Intercepts

The standout result from hole 24FIERC20 returned:

• 16m @ 1.3% CuEq from 158m, including:
• 7m @ 2.0% CuEq from 161m.
• 2m @ 1.9% CuEq from 210m.

Additionally, hole 24FIERC21, located 500m west of previous intercepts, delivered:

• 12m @ 0.6% CuEq from 242m, including:
• 3m @ 1.8% CuEq from 242m.

The drilling has delineated multiple steeply dipping mineralized zones hosted within the D’Kar sediments, a hallmark of the Kalahari Copper Belt.

Expanding a Significant System

Fiesta’s copper-silver mineralization, characterized by disseminated chalcocite and minor malachite, continues to grow in scale. A total of 19 Reverse Circulation (RC) drill holes, covering 4,854m, have defined multiple mineralized shears across the 4.5 km-long system.

Chief Geologist Bruce Hooper remarked, “Fiesta continues to deliver impressive copper and silver grades, extending the system and reinforcing its potential as a world-class discovery.”

Leveraging Modern Techniques

Noronex (ASX: NRX) is employing advanced exploration methods, including down-hole geophysical and Optical Televiewer (OPTV) logging, to better understand the strike, dip, and orientation of mineralized zones.

The data from OPTV surveys will guide two recently completed extensional holes, with assays pending. This innovative approach mirrors the successful exploration strategies employed at other major deposits in Botswana, such as Khoemacau Copper Project (370 Mt @ 1.7% CuEq).

Next Steps and Broader Exploration

With South32’s financial backing under an earn-in agreement, the company has extended its focus beyond Fiesta. The drill rig is now mobilizing to test new targets at the Damara Project near the Botswana border.

Results from upcoming campaigns are expected to solidify Noronex’s (ASX: NRX) position in Namibia as a key player in the copper industry.

Strategic Context

The discovery aligns with global trends favoring critical minerals for green energy technologies. Copper and silver play essential roles in renewable energy systems, making Fiesta a strategically valuable asset.

The Fiesta Project’s consistent delivery of high-grade intercepts underscores its potential to become a large-scale copper-silver discovery, especially in the Kalahari Copper Belt. Backed by innovative techniques and South32’s support, Noronex (ASX: NRX) is well-positioned for transformative growth in 2025.