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Drill results hint at gold-copper extensions for Noronex

Assays from Noronex’s latest drilling campaign at its Onamon copper-gold project in Canada have returned results that the ASX-listed explorer believes may represent extensions to its Lynx South orebody.

The company completed a four-hole, 1274m diamond drill program in April and May, with recently returned assay highlights including a 1m intersection going 28 grams per tonne gold from 329m.

The same hole intersected a 1m section at 1.1 g/t gold and 0.5 per cent copper from 354m whilst a deeper 1m intercept going 4.1 g/t gold and 0.28 per cent copper from 358m was also recorded.

The company says the holes were drilled to test anomalies highlighted by helicopter electro-magnetic and geophysical surveys completed in 2007.

Another hole highlighted a narrow vein with a 0.15m hit reading 516 g/t silver, 0.44 g/t gold, 1.9 per cent zinc and 0.2 per cent lead from 102.4m

Noronex says the narrow high-grade results are associated with broad intervals of anomalous copper or zinc close to modelled electro-magnetic conductive plates that may represent extensions to the Lynx South orebody.

The Lynx deposit is the company’s prime asset and is a high-grade resource of 1.6Mt going 1.6 per cent copper, 0.66 grams per tonne gold and 40 g/t silver.

It was drilled about 12 years ago, however recent geophysical work lit up potential extensions along strike and at depth.

Historical drilling of the project has recorded significant intercepts including 3.7m going 8.1 per cent copper, 6.1 g/t gold and 236 g/t silver from 195m downhole.

Noronex says it is one of the largest landholders targeting copper, gold and silver volcanic-hosted massive sulphide deposits on the Onaman-Tashota Greenstone Belt in Ontario, Canada, with about 30,000 hectares of land.

Other projects in Canada to be tested include Kupfer Lake, Ryan Block A, Ryan Block B and Amukan.

The company is planning bore-hole and ground electro-magnetic surveys at Lynx South, Amukan, Kupfer and both Ryan properties in addition to a sampling and prospecting program at Kupfer.

Noronex has been making plenty of copper exploration moves in recent months, including last week’s news of the completion of a second phase of drilling at its flagship Witvlei project in Namibia’s highly prospective Kalahari copper belt.

The 13-hole RC program built on Noronex’s earlier impressive drill results from its Daheim prospect, including a 27m intersection going 1.6 per cent copper containing a higher-grade interval of 10m at 2.5 per cent.

Independent research group Rystad Energy has forecast a potential shortfall of about 6 million tonnes of copper in 2030.

Noronex hopes to play a role in reducing the expected market shortage through its vast African and Canadian projects.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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