Noronex Initiates Diamond Drilling at Fiesta Copper Project in Namibia

Noronex Limited has initiated diamond drilling at the Fiesta Copper Project in Namibia’s Kalahari Copper Belt, funded by South32 Limited. The drilling aims to explore depth extensions and assess copper-silver mineralization potential. The current market sentiment for Noronex stock is strong, reflecting a year-to-date price increase of 40%.

Noronex Limited (AU:NRX) has announced the initiation of diamond drilling at the Fiesta Copper Project, located in Namibia’s Kalahari Copper Belt. This drilling program, sponsored by South32 Limited through an earn-in agreement, aims to investigate depth extensions and improve geological understanding of the area. The objective is to validate the extent of significant copper-silver mineralization and evaluate the overall size of the Fiesta system.

The drilling operations will encompass the full width and depth of the mineralization, with additional plans to pursue exploration that seeks to extend the system’s strike, which is currently open towards the west. Noronex Limited is dedicated to uncovering and developing copper mining prospects within the region, particularly focusing on the Kalahari Copper Belt.

In terms of financial performance, Noronex has seen a year-to-date price increase of 40.0% and an average trading volume of 1,543,429 shares. The company currently has a market capitalization of A$7.24 million and holds a strong buy technical sentiment signal, indicating positive investor outlook for NRX stock.

In conclusion, Noronex Limited has commenced diamond drilling at its Fiesta Copper Project, backed by South32 Limited, focusing on exploring the depth of copper-silver mineralization. The drilling program aims to assess the potential size of the Fiesta system while pursuing further exploration opportunities. With a notable increase in stock price and favorable trading sentiment, Noronex appears to be making significant advancements in its exploration endeavors.

Original Source: www.tipranks.com