The company is currently in a trading halt with material exploration results pending. Pic: via Getty Images.
Norfolk Metals kicks off Orroroo uranium exploration
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Norfolk Metals has kicked off a downhole geophysical survey across five historical petroleum wells to target uranium mineralisation within the Walloway Basin at its Orroroo project in South Australia.
Historical exploration undertaken by Linc Energy throughout 2009 to 2011 produced results delineating coal – which are considered a prime-reducing environment for the precipitation of uranium mineralisation. The Walloway Basin has never been explored for uranium.
In addition, open file reports from Linc’s work reveal several strong gamma anomalies typical of the “oxidised tails” of roll-front style mineralisation which are ideal for In-Situ Recovery (ISR) mining.
Well known roll-front uranium deposits include Boss Energy’s (ASX:BOE) Honeymoon uranium mine and Quasar Resources Four Mile mine both also in South Australia.
Sandstone-hosted uranium potential
Norfolk Metals (ASX:NFL) is confident that the coal delineations and the gamma anomalies present the Orroroo Project as a prime target for sandstone-hosted uranium discoveries – and they weren’t kidding about the quick turnaround – with the company currently in a trading halt pending material results.
“We are pleased to be commencing work on time and within budget at this initial exploration phase,” executive chairman Ben Phillips said.
“We look forward to updating the market in the very near term on our findings.”
Norfolk says minor downhole intervals of elevated uranium from the geophysical program will be highly encouraging and could be the impetus for further downhole geophysics and infill drilling.
Expectation is building, and the company expects the full potential of Orroroo to be revealed when they come out of the halt when the results are released to market on Monday 27th February.
This article was developed in collaboration with Norfolk Metals (ASX:NFL), 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.
