Norwest Minerals Limited (ASX:NWM) Confirms Major Discoveries in Critical Metals
Drilling Results Summary
Norwest Minerals Limited (ASX:NWM) reported significant findings from its exploration at the Dales Gossan site, confirming large intersections of silver, copper, lead, and zinc. The results stem from a recent seven-hole drilling program, which has revealed wide drill intersections across all holes. Notable intervals include silver intersections, such as 16m at 24g/t in RC14, and significant lead intervals, including 58m at 0.56% in RC05.
CEO Comments
Charles Schaus, CEO of Norwest, remarked on the findings: “These silver-copper-lead-zinc intersections are truly anomalous and suggest Dales Gossan could be the next major West Arunta mineral discovery.” He emphasised the prospectivity of the Dales Gossan location due to its positioning on the Sandman fault, indicating a possible conduit for mineralisation
Future Exploration Plans
A follow-up drilling program is planned for early 2025 to explore further down dip and along strike of these new intersections. The company will also conduct a detailed review of both current and historical exploration data associated with the Sandman fault to optimise future exploration strategies.
EIS Co-Funding Received
Norwest has been notified of its successful application for co-funding through the Exploration Incentive Scheme (EIS) for drilling at its Arunta West project. This funding will contribute 50% of the drilling costs, supporting the company’s ongoing exploration efforts for critical metals.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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