Norwest Minerals Q3 2024 activities report

Norwest Minerals (ASX:NWM) has released its quarterly activities report for the period ending 30 September 2024. The company has been actively engaged in exploring multiple projects, notably targeting critical minerals and precious metals. Key efforts included drilling at the West Arunta Project, where promising preliminary results were observed. Norwest also completed a successful capital raise, securing $2.52 million, and reported a cash balance of $1.92 million at the end of the quarter.

Key takeaways and future outlook

Norwest Minerals continues to advance its exploration projects with a strong focus on critical minerals and precious metals. The West Arunta Project has shown promising preliminary results, particularly with the discovery of a near-surface VMS zone, and further drilling is planned. The successful capital raise will support ongoing and upcoming exploration activities, including those at the Marymia East and Bulgera Gold Projects. With government co-funding approved for future drilling, Norwest is well-positioned to continue its exploration and development efforts, maintaining a strategic focus on expanding resources and discovering new deposits.

Executive insights on exploration activities

Drilling efforts at Tamba, Malibu, and Duck prospects have been targeted at critical minerals and precious metals. The discovery of a ~40m wide zone of near-surface VMS below the Dales Gossan outcrop is particularly significant, with follow-up RC drilling planned for late October. Tamba drilling revealed stacked quartz veins with sulphides in line with a significant 2022 gold anomaly, with assay results expected by early December.