Noronex Limited has swiftly transitioned from geological theory to active exploration, confirming the commencement of its maiden reverse circulation drilling campaign at the Etango North uranium project in Namibia. This marks the company's first dedicated uranium drilling initiative in the country, representing a significant advancement from desktop studies to hands-on field operations.
High-Priority Targets Under the Drill Bit
The drilling program, executed by established Namibian contractor Ferrodrill, is designed to test a series of high-priority targets identified through detailed fieldwork conducted over the past year. Key objectives include uranium-thorium anomalies delineated in a comprehensive 2025 spectrometry survey, alongside interpreted extensions of alaskite-hosted mineralisation that extend into Noronex's tenure.
Alaskite-hosted uranium deposits are a hallmark of Namibia's mining sector, forming the foundation of some of the nation's largest and most productive operations. Recent geological interpretations have further highlighted favourable structural and stratigraphic settings, such as domal closures and flat-lying alaskite sheets, which are considered prime traps for uranium mineralisation in this region.
Shallow Cover and Discovery Potential
Notably, several initial targets are situated in areas with shallow surface cover, where mineralisation may be obscured from direct observation. This geological characteristic raises the intriguing possibility that previous exploration efforts might have overlooked significant deposits, with explorers potentially walking directly over valuable mineralisation without detection.
Victor Rajasooriar, Managing Director and Chief Executive Officer of Noronex Limited, emphasised the project's compelling potential, stating: "The combination of strong surface uranium anomalism, favourable geology and its location in a world-class uranium district makes Etango North a compelling opportunity for discovery."
Prime Geological Real Estate
Etango North is strategically positioned approximately 32 kilometres east-northeast of Swakopmund, occupying premium geological territory within Namibia's prolific uranium corridor. This interpreted mineralised trend connects Bannerman's substantial 207-million-pound Etango project with the producing Rössing and Husab uranium mines, located a further 36 kilometres to the northeast.
The Rössing uranium project stands as one of the world's largest open-pit uranium mines, having produced more than 140,000 tonnes of yellowcake from its commencement in 1976 through to 2022. Meanwhile, the Husab mine resource contains over 300,000 tons of uranium oxide, with operations expected to continue until 2044. As the world's second-largest uranium mine by output, Husab accounted for 6 per cent of global uranium production in 2019.
Joint Venture Structure and Future Prospects
Noronex's project is structured as a joint venture with a local vendor, providing the company with the opportunity to earn up to an 80 per cent interest. This arrangement offers significant leverage to exploration success should drilling deliver positive results.
With drilling operations now underway and initial samples scheduled for laboratory analysis shortly, Noronex is poised to determine whether its meticulously developed geological hypotheses are grounded in substantive mineralisation. In a district that has already produced multiple uranium industry leaders, even modest success at Etango North could rapidly transform Noronex from an aspiring explorer into a serious contender within one of the globe's most competitive uranium regions.
