Norfolk Metals cuts a slice of South Australia’s yellowcake with expanded maiden drilling program at Orroroo

• Maiden drilling will target three highly prospective targets at Orroroo
• Uranium prices have broken through the US$80/lb barrier, up 65% in the last 12 months
• Phase 1 commenced with phase 2 commencing in January 2024

Special Report: Norfolk Metals’ maiden drill program at Orroroo has been expanded and will be split over December and January to further define the potential of three identified targets.

South Australia is well known to be a hotbed for uranium mineralisation and home to Australia’s largest deposits of yellowcake, including BHP’s (ASX:BHP) Olympic Dam.

Norfolk Metals’ (ASX:NFL) EL6552 and EL6814 tenements cover ~659km2, almost covering South Australia’s entire Walloway Basin, a host to several commercially viable uranium deposits such as Honeymoon and Beverley.

Having overseen the drilling of >1,000 holes, NFL has brought in uranium geologist Mark Couzens, a specialist in exploring for sediment-hosted uranium at the nearby Beverly and Four Mile deposits in South Australia, Bennett Well in WA, and in Argentina.

Phase 1 underway

NFL is at the drillbit with two phases at Orroroo to be completed by March next year.

Phase 1 includes the completion of up to three holes at each of the targets’ 1, 2 and 4, which play host to known uranium occurrences.

“As the program progresses, the findings of these initial holes will assist in the understanding of the palaeochannel and/or flood plain potential for uranium mineralisation and prospectivity for future delineation of any possible resource,” NFL says.

As Phase 1 drilling either confirms the current palaeochannel model or to amend it, the findings will assist in identifying new targets across Orroroo for Phase 2.

Project timeline

December 2023

• Results of maiden drill program Phase 1 released to market

January 2024

• Prospectivity and target mapping across EL6552 and EL6814 tenements
• Commencement of maiden drilling program Phase 2
• Results of maiden drill program Phase 2 released to market

March 2024

• Comprehensive report on results and prospectivity of EL6552 and EL6814

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.