Noronex Ltd. · ASX:NRX
Noronex — Investing in African Mining Indaba 2025
21 slides from Noronex's conference presentation, Feb 6, 2025
Slide 1: Exploring for a New Generation of Large-Scale Copper Discoveries
EXPLORING FOR A NEW GENERATION OF LARGE-SCALE COPPER DISCOVERIES IN THE WORLD-CLASS KALAHARI COPPER BELT Strategic Alliance with South32 underpins the hunt for major new copper deposits and a new generation of base metal assets in a fast-growing copper district Investor Presentation – Investing in A
Slide 2: Kalahari District – A Major New Source of Copper Supply
Kalahari District – A Major New Source of Copper Supply Kamoa-Kakula (Ivanhoe) • No resources in the belt in 2008 – now ~8 Mt Cu Commenced 2021, Production ramping up from 400ktpa to 650ktpa • Currently producing ~90ktpa of copper (~35% contained Copper Cu concentrate grade with Ag credits) Makoko (
Slide 3: New Copper Discoveries Critical to Meet Growing Demand
New Copper Discoveries Critical to Meet Growing Demand • Demand growing at over 3% per year as the world continues to decarbonise its energy production: • World will need more copper this decade than in the previous 150 years • Major shortage of new discoveries Source: BloombergNEF Transition Metals
Slide 4: NRX – Strategic Position in a World-Class Copper Belt
NRX – Strategic Position in a World-Class Copper Belt • Noronex’s exploration package covers ~10,000 km2 of the highly prospective Kalahari Copper Belt – one of the world’s last under-explored large-scale copper frontiers • Strategic Alliance with South32 provides strong technical, financial and str
Slide 5: Noronex – Strategic Landholding in the Kalahari Copper Belt
Noronex – Strategic Landholding in the Kalahari Copper Belt ASX:NRX PAGE 5
Slide 6: Humpback-Damara Project (JV with South32)
Humpback-Damara Project (JV with South32) • South32 can earn 60% by spending $15M over 5 years • Covers the northern thrust fault margin of the Kalahari Copper Belt • Several prospective domal structures evident • Strong initial results being generated from RC drilling at Fiesta Project • Drilling c
Slide 7: Humpback – Fiesta (JV with South32)
Humpback – Fiesta (JV with South32) • Over 4.5km of anomalous copper drilled • Recent intercepts1 of: ✓ 45m @ 1.0% CuEq (23FIERC02) ✓ 30m @ 1.1% CuEq (24FIERC10) ✓ 16m @ 1.3% CuEq (24FIERC20) ✓ Further assay results pending • Excellent silver grades • Mineralisation extended over a kilometre to the
Slide 8: Humpback – Fiesta (JV with South32)
Humpback – Fiesta (JV with South32) • Mineralisation developed below 80m of Kalahari cover • Copper developed in zone above the reductant/sandstone contact • Chalcocite dominated mineralization in shales • Recent OPTV downhole logging improving understanding of mineralisation controls, steeply dippi
Slide 9: Damara Project (JV with South32)
Damara Project (JV with South32) • Drilling underway at Otjiupehuri, Namibia • Utilising Central African Copper Belt margin models • Kamoa-Kakula sits on the basement in Congo • Barrick’s Lumwana deposit in Zambia is hosted in basement on contact: • 1Bt @ 0.6% Cu, 100ppm Co + Uranium • Copper produc
Slide 10: Damara Project (JV with South32)
Damara Project (JV with South32) • Drilling underway on the defined gravity targets • Basin margin previously untested on a major crustal suture • New understanding being gained for geology in this region • Several high-density bodies identified by recent gravity survey – outlining prospective targe
Slide 11: Witvlei Copper Project – JORC Mineral Resource
Witvlei Copper Project – JORC Mineral Resource Indicated – Inferred Resources across 4 deposits: • 10Mt @ 1.3% Cu JORC 2012 Resource1 • 95%-owned by Noronex, 5% Local partner • Shallow near-surface sulphide mineralisation • Resources constrained by pit shells • Chalcocite in sediments, potential for
Slide 12: Witvlei Copper Project – Growth Potential
Witvlei Copper Project – Growth Potential Daheim • New discovery on geochemical soil anomaly • Numerous thick high-grade intercepts in complex structural setting, hosted in siltstones on contact with oxidised sandstones 1 • RC intercepts include: • 27m @ 1.6% Cu incl. 6m @ 2.9% Cu Diamond Drilling –
Slide 13: Witvlei Copper Project – Developments in the Region
Witvlei Copper Project – Developments in the Region Witvlei Deposits • 10Mt @ 1.3% Cu JORC 2012 Resource1 • Aiming to triple resources for a stand-alone operation • Chalcocite in sediments, high-grade concentrate or SX-EW chloride heap leach potential Otjihase • Consolidated Copper Ltd purchased Otj
Slide 14: Uranium Project – Namibia
Uranium Project – Namibia • Low-cost Option Agreement to acquire the greenfields Etango North Uranium Projects • Project lies along strike from major uranium deposits • Experienced Namibian uranium team • Etango North: • Environmental Clearance Certificate (ECC) completed • Targets defined • Field w
Slide 15: Etango North
Etango North • Located in the centre of Namibia’s hard rock uranium district • Along strike from Bannerman Energy’s Etango Deposit (207Mlb contained U3O8) • Anomalous Alaskites intersected in drilling on adjacent tenure, data acquired • AI used to define a highly prospective target zone • Anomalous
Slide 16: Corporate Overview
Corporate Overview BOARD AND MANAGEMENT Noronex’s board has significant minerals exploration and mining Tight Capital Structure experience in Namibia and around the world. 499.7m SOI 1 Well leveraged to exploration success David Prentice Experienced team in Namibia to Non-Exec Chairman manage explor
Slide 17: Value Catalysts
Value Catalysts South32 Agreement provides funding, technical and strategic support to test copper targets along Noronex’s impressive belt-scale tenement holding in the Kalahari Copper Belt Drilling underway since September at Fiesta with excellent results generated to date, rig recently relocated t
Slide 18: PH +61 8 6555 2950 • EMAIL info@Noronex.com.au NORONEXLIMITED.COM.AU
Suite 1, 295 Rokeby Road, Subiaco, WA, Australia, 6008 PH +61 8 6555 2950 • EMAIL info@Noronex.com.au NORONEXLIMITED.COM.AU ASX:NRX PAGE 18
Slide 19: Competent Person's Statement
Competent Person’s Statement ● The information in this report that relates to Namibian Exploration Results is based on information compiled by Mr Bruce Hooper who is a Registered Professional Geoscientist (RPGeo) of The Australian Institute of Geoscientists. Mr Hooper is a consultant to Noronex Ltd
Slide 20: Competent Person's Statement
Competent Person’s Statement Table 1: DorWit Consolidated Mineral Resources at a cut-off grade of 0.5% Cu as at 01 March 2021 Oxidation Classification Tonnes Cu Ag Cu content Deposit State Category (Millions) (%) (ppm) (kilo tonnes) Indicated 0.11 1.30 7 1.4 Inferred 0.04 1.19 7 0.4 ● The Mineral Re
Slide 21: Competent Person's Statement
Competent Person’s Statement ● The information in this report that relates to Mineral In June 2020, a JORC (2012) compliant resource (reported by G. Kirkham) was completed at the Lynx deposit representing approximately 600 metres Resources in Canada is based on information compiled of a 12km trend o