Norfolk Metals’ identification of a prospective uranium-bearing floodplain proves it is closing in on the real prize. Pic via Getty Images
Norfolk Metals closes in on the uranium prize at Orroroo after drilling prospective floodplain
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- Phase 2 drilling validates Norfolk Metals’ paleochannel model of uranium mineralisation at Orroroo
- Drilling identifies prospective uranium-bearing floodplain, which will guide future exploration
- Relationship between intensity and thickness of limonite units and gamma anomalies also provides important vector
Special Report: Phase 2 drilling at Norfolk Metals’ Orroroo project in South Australia has unlocked the path to rich exploration upside after it identified a prospective uranium-bearing floodplain, validating its target model.
Orroroo comprises two granted exploration licences – EL6552 and EL6814 – which together cover 659km2 within the Walloway Basin, a known uranium hotspot in South Australia.
The project is also close to the proven Honeymoon and Beverley U3O8 deposits, which provides Norfolk Metals (ASX:NFL) with additional confidence it is at the right spot for uranium exploration.
Not that it needs such confidence-boosting measures at this stage.
Phase 1 drilling has already reconfirmed previously reported uranium occurrences noted in historical holes drilled by Linc Energy at Target 4 with a prompt fission neutron (PFN) tool returning a value of 147ppm pU3O8 over 0.36m with a peak reading of 796ppm pU3O8.
Phase 1 drillling also tested the regional REDOX model of the Walloway Basin with encouraging results returning peak values of 538ppm pU308, prompting the company to launch Phase 2 drilling in early January continuing to test all paleochannel and floodplain prospects.
Paleochannel model looking likely
This maiden program successfully intersected uranium in 10 of the 17 holes with hole ORMR015A in particular encountering what appears to be a silt dominated floodplain with minor gravel and two elevated gamma anomalies interpreting uranium towards the top of this unit as well as the base of this unit.
This interpreted uranium bearing floodplain intersected upstream of Wongway Creek gives the company confidence in the paleochannel model and future exploration efforts can be planned accordingly.
Drilling has also indicated that a close spatial relationship appears to exist between the intensity and thickness of the limonite units and the gamma anomalies as the company gets closer to a possible uranium bearing paleochannel, providing it with a very important vector.
Additionally, the drilling suggests that the primary target model remains to be a Beverley-type uranium model where the highest grades of uranium are expected to be located at the base of the incising part of the palaeochannel with lower uranium grades seen in the floodplains.
“It is clear the Orroroo project has reached a critical value point having further de-risked the project at the completion of the maiden drill program post a successful capital raise in late 2023,” executive chairman Ben Phillips said.
“There is a clear path for exploration upside in this well-funded and well-structured uranium explorer with an abundance of permitted ground hosting drill targets. There is no better place in the world to be a junior uranium explorer in the current market and Norfolk has the support and capital to see the job through.
“The recent results further confirm the east-west creeks as sound targets opening the door for north-south orientated passive seismic and/or detailed ground magnetics as possibilities or we could elect to go straight into subsequent drilling given the non-cost prohibitive operations and welcoming local community hosting contractors.”
Ongoing activity
NFL continues to progress exploration by securing additional land access, applying for drill permitting and carrying out geophysics.
This article was developed in collaboration with Norfolk Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
