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Noronex strikes gold in Southern Canada

26 July 2022 15:24
ASX: NRX

Noronex Limited has intercepted up to 28 grams per tonne of gold at its Lynx Deposit in the Canadian province of Ontario among other strikes of base and precious metals.

The Perth-based company believes the latest data and historical results indicate the site hosts massive mineral-rich sulphides.

Drilling comprised four holes over 1274 meters, with other highlights including a hit of 4.1g/t gold with 0.5 per cent copper and a massive silver intercept of 514 g/t.

It has been a busy week for Noronex as this news comes on the heels of the company commencing drilling at its copper project in Namibia.

The Onaman-Tashota greenstone belt is prospective for massive deposits of base and precious metals — including essential battery metals copper and nickel.

The Lynx deposit is only one of Noronex’s projects in the Onaman-Tashota belt.

The company said these high-quality intersections had provided extra confidence in the potential of the resource.

With this discovery, the explorer has grown the confidence to move forward on additional sites, with planning for till sampling and prospecting at the adjacent Kupfer project well underway.

Results have spurred on further geological surveys over Lynx, set to include borehole and airborne electromagnetic testing.

NRX’s Australian Stock Exchange-listed price was trading at 3.5c today (3:18 pm UTC+8 hours).

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