Noronex and South32 join forces for copper exploration in Namibia

Noronex Limited (ASX: $NRX) has announced a strategic partnership with South32 Ltd for accelerating copper exploration in Namibia. South32 has committed to investing A$15 million over five years in Noronex's Humpback-Damara Project, with the potential to earn a 60% interest. Additionally, a Strategic Alliance has been formed to target new copper and base metal projects in Namibia.

Executive commentary on the partnership and exploration prospects

Noronex Executive Director, James Thompson, expressed enthusiasm about the partnership with South32, highlighting it as a transformational development for Noronex. He emphasized the significance of the technical, financial, and strategic support from South32, enabling the exploration and drilling across their portfolio in the Kalahari Copper Belt. Technical Director and Chief Geologist, Bruce Hooper, underscored the vast potential of the Kalahari Copper Belt and the opportunity to unlock the full potential of Noronex's exploration package in Namibia.

Summary of the partnership and outlook for copper exploration

The partnership between Noronex and South32 marks a significant milestone in accelerating copper exploration in Namibia. With South32's commitment to invest in exploration expenditure and the formation of a Strategic Alliance, Noronex is poised to pursue major sedimentary copper deposits in the highly prospective Kalahari Copper Belt. The company's extensive exploration package covering over 8,500km2 presents an opportunity to target exciting new copper and base metal prospects. The upcoming exploration programs, including gravity surveys and drilling, are expected to unlock the full potential of Noronex's portfolio. The partnership and strategic alliance position Noronex to pursue its ambitions of making large-scale copper discoveries and developing major new mines in Namibia.