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Norfolk Metals Unearths Uranium Excitement at Orroroo Project

7 February 2024 07:44

Norfolk Metals Limited (ASX:NFL) has achieved a major milestone during Phase 2 drilling at the Orroroo Project, uncovering promising results, intersecting uranium-bearing floodplains and identifying the Wongway Creek Target.

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Figure 1: Wongway Creek Target cross section with interpreted floodplain and associated gamma spikes delineating uranium.

Exploration Progress and Challenges

The Company has reported it has successfully completed phase 2 of its maiden drill program, encapsulating 17 holes, with an additional five holes drilled in January 2024.

The drilling identified a prospective uranium-bearing floodplain just 50 metres south of the modern-day creek at the Wongway Creek Target.

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Figure 2: Phase 1 and Phase 2 Drill Location Plan and cross section reference

The primary target model draws parallels with the Beverly uranium mine, anticipating the highest uranium grades at the base of the incising part of the paleochannel.

However, the exploration journey faced setbacks due to heavy rain and a malfunctioning Prompt Fission Neutron (PFN) tool, causing delays in data collection. Despite these challenges, Norfolk Metals persevered, utilising gamma probe data to continue delineating uranium occurrences.

Maiden Drill Program Achievements

The completion of the maiden drill program provided valuable data, with nine out of 17 holes successfully delineating uranium.

The interpreted uranium-bearing floodplain upstream of Wongway Creek solidified confidence in the paleochannel model.

PFN and Gamma Logging Insights

Post-maiden drill program, the gamma probe was calibrated, ensuring accuracy and functionality.

Despite the PFN tool malfunction, gamma results exhibited a close correlation with pU3O8 recorded by the PFN tool.

Norfolk’s cautious reporting approach in December, highlighting only PFN data, proved beneficial in interpreting subsequent gamma spikes during Phase 2.

Phase 2 Floodplain Interpretation

The pre-drilling model targeted palaeochannels south of modern-day creeks, approximately 100 to 150 metres away.

Surprisingly, Phase 2 drilling revealed prospective palaeochannels just 50 metres south, supporting the model of palaeochannels occurring due to a change in regional slope.

Key drillholes, such as ORMR015A and ORMR017, provided insights into floodplain characteristics and the presence of kaolinitic clay marker beds, essential in understanding the basin’s geological history.

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Image 1: Drill samples from ORMR015A showing the kaolonitic clay marker unit from 121-130m and floodplain silt from 130-137m.

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Image 2: Drill samples from ORMR007 at Rankin Rd Target showing the limonite rich fluid from 101-104m with a small uranium zone occurring at 101m. The kaolinitic clay marker bed can be seen at 85-94m.

Soft sediment deformation and faulting were identified as contributors to uranium mineralisation.

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Figure 3: Orroroo Project Regional Cross Section* Please note that some drill holes deliberately omitted for illustration only (scale)

Future Exploration

The observed limonite-rich fluid markers, especially near creek beds, provided crucial insights, suggesting a close spatial relationship with potential uranium-bearing palaeochannels.

The primary target model aligns with a Beverley Type Uranium model, indicating the intention to continue exploration efforts around Wongway Creek Target through geophysics and close-spaced drilling.

While Wongway Creek remains a priority, the potential confirmation of high-grade uranium could extend to other targets like Walloway Creek, No Name Creek, and Rankin Rd.

Company Commentary

Norfolk Metals Executive Chairman Ben Phillips commented on the recent developments.

“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,” he 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 confirming the east west creeks as targets opens 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 to host contractors.”

NFL’s Australian Securities Exchange-listed share price is currently trading at $0.150 (7.45am UTC+ 8 hours).

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