Noronex Limited has identified several promising uranium and thorium anomalies at its Etango North project in Namibia, validating prior AI models and setting the stage for drilling later this year.
- Completion of 244-line km ground spectrometry survey
- Multiple uranium/thorium anomalies defined for follow-up
- Project located near Bannerman Energy’s Etango uranium project
- Noronex holds earn-in JV for up to 80% interest
- Planned shallow drilling program and soil sampling underway
Strategic Location in a World-Class Uranium District
Noronex Limited’s Etango North project sits at the heart of Namibia’s prolific hard rock uranium district, just 3km north of Bannerman Energy’s Etango project, which boasts 207 million pounds of contained uranium oxide and is currently under construction. The proximity to major operating mines like Rossing and Husab further underscores the strategic potential of Noronex’s ground.
Ground Spectrometry Survey Validates AI-Driven Targets
In July 2025, Noronex completed an extensive ground spectrometry survey covering 244 line kilometres, mapping uranium, thorium, and potassium signatures across the license area. The survey results have validated and refined earlier AI modelling efforts, pinpointing multiple highly anomalous uranium exploration targets. These anomalies align with extensions of uranium-hosting alaskite mineralisation, a key host rock type for major uranium deposits in the region.
From Anomalies to Action – Fieldwork and Drilling Plans
Following the survey, Noronex has initiated a detailed field review to ground-truth the anomalies and plan a geochemical soil sampling program. This groundwork aims to optimize drill targeting ahead of a shallow follow-up drilling campaign anticipated later in 2025. The company’s approach reflects a methodical progression from geophysical data to tangible exploration, increasing the chances of a greenfields uranium discovery.
Joint Venture Structure and Strategic Ambitions
Etango North is held under a joint venture with a local Namibian partner, where Noronex can earn up to an 80% interest and acts as the manager and operator. This structure allows Noronex to leverage local expertise while advancing exploration aggressively. The project complements Noronex’s broader portfolio, which includes copper exploration in Namibia and Botswana, positioning the company as a diversified player in critical minerals.
Looking Ahead – Potential and Challenges
While the spectrometry survey and AI modelling provide a strong foundation, the absence of recent drilling results means the targets remain prospective. The upcoming drilling program will be pivotal in confirming mineralisation and assessing resource potential. Noronex’s ability to execute on its exploration plans and manage JV commitments will be critical as it seeks to capitalize on Namibia’s uranium district momentum.
Bottom Line?
Noronex’s methodical exploration at Etango North could unlock significant uranium resources, but drilling results will be the true test of its potential.
Questions in the middle?
- How will upcoming drilling results impact Noronex’s resource estimates and valuation?
- What are the financial and operational implications of the JV earn-in payments for Noronex?
- How does Noronex’s uranium strategy integrate with its copper exploration activities in the region?