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NFL - Norfolk Metals

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Norfolk Metals Limited is a soon to be ASX listed exploration Company holding the Roger River Gold Project and the Orroroo Uranium Projects.

The Roger River Gold Project comprises one granted exploration licence, EL20/2020, and one exploration licence application EL17/2021, which together cover 261km2, located 410km northwest of the capital city of Hobart, Tasmania. The Project is prospective for gold as indicated by the intense silicification, argillisation and diatreme breccias in close proximity to the Roger River Fault along with carbonate-rich host rocks.

The Orroroo Uranium Project is located approximately 274km northwest of the capital city of Adelaide, South Australia within the Walloway Basin, which is an elongate Tertiary Basin approximately 50km long and up to 15km wide. It consists of Tertiary and Quaternary sediments unconformably underlain by Adelaidian basement.

Norfolk Metals intends to execute on two sequential exploration programs within 12 months of admission to the Official List. The respective programs include 2,000-3,000m of diamond drilling at the Roger River Gold Project with the aim of identifying epithermal gold occurrences in targets defined from ground based gravity and airborne aeromagnetic survey. The Orroroo Uranium Project exploration program will commence with reverse circulation drilling to further understand the Gamma anomalies identified by previous drill campaigns in the Walloway basin.

It is anticipated that NFL will list on the ASX during March 2022.

 
Listing date14 March 2022 12:00PM AEDT
Company contact detailshttps://norfolkmetals.com.au/
Ph: +61 8 9480 0429
Principal ActivitiesMining exploration
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeNFL
Capital to be Raised$5,500,000
Expected offer close date21 February 2022
UnderwriterNot underwritten. JP Equity Partners Pty Ltd (Lead Manager).
 
another one that got away, up 137%, then falling back

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So, what was the pivot ?

Native Copper intersected in First Hole

● Native copper and sulphide mineralisation intersected in maiden drill test of coincident gravity and magnetic anomalies at the Roger River Project. Assay results expected December 2022.
 
Norfolk raises $1M @ 0.20 and gets drilling approval for its Orroroo uranium ex. in S Aust.

Price goes ballistic up 50% (closes 0.38).
 
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