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Exclusivity for Las Alteras Acquisition
- Norfolk signs exclusivity agreement with Green Shift Commodities Ltd (TSXV GCOM) to acquire Las Alteras uranium project located in Argentina
- Las Alteras uranium project surrounded by non-JORC foreign estimates* at URAmerica’s Meseta Central deposit (19.1Mlbs eU308¹), CNEA’s Cerro Solo deposit (11.49Mlbs U308²), ISO Energy’s Laguna Salada deposit (10.1Mlbs U308³) along with the Cerro Condor and Los Adobes historical uranium mines
- Norfolk receives firm commitments for a strategic placement of A$415,746 via ASX Listing Rule 7.1 capacity
- Additional funding to assist in expediting due-diligence on Las Alteras and exploration planning on the Company’s projects
- Strong cash position of A$3.49m as at 31 December 2023
- Norfolk continues to review complementary projects as the Company looks to expand uranium project suite
- Norfolk to conduct executive search for additional Key Management Personal to progress Australia and Argentina uranium exploration projects
Figure 1: Location map of Las Alteras uranium project
Commenting on Norfolk Metals, Executive Chairman, Ben Phillips, states:
“Norfolk has secured an exceptional opportunity in Argentina where we expect to see strong increase in positive sentiment from government, uranium explorers and investors throughout 2024. Las Alteras is surrounded by multiple uranium deposits to the east, west and south with historical mines located to the north and south. We are currently reviewing the historical drill information boarding the eastern block of Las Alteras where uranium has been delineated in the same structures as the flagship Cerro Solo deposit. This uranium trend is increasing as the holes approach Las Alteras ground making this area one of several priorities of our focus.”
Las Alteras Exclusivity
Las Alteras uranium project is surrounded by non-JORC foreign estimates* at URAmerica’s Meseta Central deposit (19.1Mlbs eU308¹), CNEA’s Cerro Solo deposit (11.49Mlbs U308²), ISO Energy’s Laguna Salada deposit (10.1Mlbs U308³) along with the Cerro Condor and Los Adobes historical uranium mines. AlterasAs the uranium market continues to evolve globally it is Norfolk’s view that the Chubut region of the San Jorge Basin hosting the renowned government owned Cerro Solo deposit presents an exceptional opportunity to diversify and grow the Company. The addition of the Las Alteras project suite will allow Norfolk to progress the appointment of Key Management Personnel and advisors.
Please see the Company presentation regarding the Las Alteras uranium project released today on the ASX on the 18th of April 2024.
Click here for the full ASX Release
This article includes content from Norfolk Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Underway at Trafalgar High-Grade Gold Prospect
Highlights
- Phase 3 drilling has commenced at Trafalgar high-grade gold prospect
- Previously reported drilling included multiple intersections grading >100g/t Au, including:
- TFD001:
- 5.0m @ 12.56g/t Au, incl. 0.4m @ 150.0g/t Au from 202.0m
- TFDD003:
- 1.2m @ 65.9g/t Au, incl. 0.5m @ 143.0g/t Au from 57.5m
- TFDD005:
- 12.3m @ 16.8g/t Au, incl. 0.7m @ 152.5g/t Au from 120.3m
- TFDD013:
- 4.0m @ 23.7g/t Au, incl. 0.5m @ 169.8g/t Au from 25.9m
- TFD001:
- New geological vein model for Trafalgar indicates multiple sub- parallel high-grade veins
- An initial 1,500m drill program is planned that will comprise infill and extension drilling targeting down-dip and along-strike extensions to previous high-grade gold intercepts
- For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/DP4MXy
Geological modelling of the multiple high-grade veins intersected in drilling at the Trafalgar Prospect in 2022/23 has been completed. The next phase of diamond drilling (Phase 3) has commenced to test in-fill and extensional drilling targets generated from the new geological model.
Managing Director and CEO, Neil Marston commented,
“Since the completion of drilling at the Trafalgar prospect at Golden Ridge in 2023, Flynn Gold has been undertaking geological modelling of the high-grade gold intersected in multiple vein sets.
“This modelling work, in combination with our recent soil sampling activities, demonstrates the potential for extensive gold mineralisation at Golden Ridge.
“Based on the latest information we have designed a program of drill holes with the goal being to target down-dip and along-strike extensions to previous high-grade gold intercepts.
“As gold prices hit record highs, it’s an exciting time for our team to be drilling this new Tasmanian gold discovery.”
Figure 1 - Location of Flynn Gold tenements in NE Tasmania.
Trafalgar Prospect – Geological Vein Model
A 3D geological vein model was recently completed for the Trafalgar prospect. The model interprets 3 main gold mineralised veins, accompanied by a network of subsidiary mineralised splay veins and sheeted vein swarms bifurcating off the main veins (see Figure 2).
All of the main mineralised veins transect the granodiorite – hornfelsed metasediments contact, with gold mineralisation hosted in both the granodiorite and metasediment host rocks.
Click here for the full ASX Release
This article includes content from Flynn Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.