Noronex Ltd. · ASX:NRX
Noronex — Diggers Conference (August 2024)
20 slides from Noronex's conference presentation, August 2024
Slide 1: Exploring for a New Generation of Copper Discoveries in the Kalahari Copper Belt
EXPLORING FOR A NEW GENERATION OF COPPER DISCOVERIES IN THE WORLD-CLASS KALAHARI COPPER BELT IN NAMIBIA Strategic Alliance and Earn-in Agreement with South32 accelerates the hunt for major new copper deposits and a new generation of base metal assets in a fast-growing copper district Investor Presen
Slide 2: Noronex: Leveraged Exposure to Copper Exploration
Noronex: Leveraged Exposure to Copper Exploration Transformational partnership with South321 to explore the Kalahari Copper Belt: ✓ South32 earn-in to Noronex’s Humpback-Damara Project: Minimum initial A$3M program managed by Noronex; South32 to spend A$15M within 5 years to earn 60% ✓ Broader Strat
Slide 3: Strategic Position in a World-Class Copper Belt
Strategic Position in a World-Class Copper Belt Exploration package covers ~8,500km2 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 strategic support Outstan
Slide 4: 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 5: Kalahari District – A Major Source of New Copper Supply
Kalahari District – A Major Source of New Copper Supply • 48Mt of contained Cu discovered since 2008 Kamoa-Kakula (Ivanhoe) Discovered in 1996 Commenced production May • Currently producing ~90ktpa of copper (~35% 2021, produced 393,551t of Cu concentrate in 2023, Cu concentrate grade with Ag) expan
Slide 6: Humpback Damara Project (Earn-in with South32)
Humpback Damara Project (Earn-in with South32) • South32 can earn 60% by spending $15M over 5 years • Northern thrust fault margin of Kalahari Copper Belt • Gravity survey underway: magnetic and gravity targets under less than 100m of cover • Test basement margins (Lumwana style) • IOCG deposits – e
Slide 7: Noronex – Strategic Landholding in the Kalahari Copper Belt
Noronex – Strategic Landholding in the Kalahari Copper Belt ASX:NRX PAGE 7
Slide 8: Damara Project (Earn-in with South32)
Damara Project (Earn-in with South32) • Known copper deposits within the KCB all located close to basement contacts • Kamoa-Kakula sits on the basement • Barrick’s Lumwana deposit in Zambia is hosted in basement on contact: • 1Bt @ 0.6% Cu, 100ppm Co + Uranium • Copper production of >100,000tpa • IO
Slide 9: Humpback – Fiesta (Earn-in with South32)
Humpback – Fiesta (Earn-in with South32) • Over 4km of anomalous copper drilled • Copper developed under 80m of cover at the Reductant/Sandstone contact • Recent intercept (23FIERRC031) of: • 45m @ 1.0% CuEq, • 45m @ 0.8% Cu and 23g/t Ag from 144m • Including: 13m @ 1.5% Cu and 45g/t Ag • Plus 7m @
Slide 10: 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 • Shallow near-surface sulphide mineralisation • Chalcocite in sediments, high-grade concentrate • Good infrastructure – 100km east of capital Windhoek on bitumen highw
Slide 11: Uranium Project – Namibia
Uranium Project – Namibia • Low-cost Option Agreement to acquire the greenfields Etango North Uranium Project • Project lies along strike from major uranium deposits • Experienced Namibian uranium team • Etango North: • Environmental Clearance Certificate (ECC) expected shortly • AI review completed
Slide 12: 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 13: Etango North JV
Etango North JV • Exclusivity payment of N$1M (A$81,000) • Payment of N$1.5M (A$122,000) - 50% Shares/Cash • Notice of exercise of Option on renewal of licence and addition of nuclear fuels • Awaiting Environmental Clearance Certificate to commence exploration • Earn 51% before February 2026 • Payme
Slide 14: 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. 488.7m SOI 1 Well leveraged to exploration success David Prentice Experienced team in Namibia to Non-Exec Chairman manage explor
Slide 15: Value Catalysts
Value Catalysts South32 Earn-in Agreement provides funding, technical and strategic support to test copper targets along Noronex’s impressive belt-scale tenement holding in the Kalahari Copper Belt Gravity survey underway, drilling planned to commence in September Strategic Alliance with South32 to
Slide 16: Contact details
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 16
Slide 17: 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 18: 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 19: 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
Slide 20: Noronex – Strategic Landholding in the Kalahari Copper Belt
Noronex – Strategic Landholding in the Kalahari Copper Belt ASX:NRX PAGE 20