First-mover Norfolk Metals confirms uranium present in unexplored Walloway Basin

Smallcap explorer Norfolk Metals (ASX: NFL) confirmed its exploration team detected lithium occurrences at the company’s 100% owned South Australian (SA) Orroroo Project on Monday. 

The detection of uranium was confirmed in downhole geophysical testing at the company’s acreage within the Walloway Basin, a geological formation which potentially provides the right conditions for a prolific uranium province. 

The Norfolk team suspended downhole monitoring equipment in several now-disused historical oil wells present on the Orroroo tenement to save costs on first-stage drilling.

Norfolk finds uranium in unexplored province

Underlying sediments at Walloway are of a similar age to that located in the Frome Embayment, a section of the Murray Basin (also located in SA) home to pour projects boasting known uranium resources. 

Norfolk is a first-mover in the Walloway and remains hopeful that it can replicate the high-grade finds at Frome in the Walloway Basin, which has never been commercially explored for uranium. 

And now, Norfolk has detected uranium on-site. 

Cannot be understated: management 

“We cannot understate the implications this has for the potential of a greenfields discovery in the Walloway basin,” Norfolk chief Ben Phillips said. 

“We have successfully confirmed the potential of the Walloway via the novel approach of [using] historical wells drilled by the oil and gas industry, overlooked by the minerals industry.”

Linc Energy was the company that completed the wells of yesteryear in question. 

“Norfolk has presented favourable uranium occurrences at depths potentially suitable for in-situ extraction technology,” Philipps added. 

Uranium concentrations were read out as 650ppm from 112.59m depth in a 0.5m section. 

Next steps 

Norfolk Metals will now accelerate its exploration activity with the potential of the Walloway confirmed.

The company is moving towards a proper drill-run to kick off in the coming months, which will be the first commercial drill run to ever search for uranium at Orroroo. 

The company will first conduct a second geophysical imaging and surveying campaign with the team currently working to identify the best suitable method available. 

The company is considering gravity seismic surveys and ground penetrating radar.

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Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Norfolk Metals was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.