Norfolk Metals Confirms Robust Copper System at Carmen and Secures $2.1m Placement for Next Exploration Phase

Norfolk Metals Ltd. ( (AU:NFL) ) has provided an announcement.

Norfolk Metals has completed Phase 1 of its maiden drilling campaign at the Carmen Copper Project, with final assays from six reverse circulation holes confirming higher-grade primary copper sulphide mineralisation at the Carmen Main area that remains open at depth. The results, which include multiple intercepts above 1% copper and surface rock chip samples up to 1.4% copper on the Higueritas Belt, underpin plans for a Phase 2 diamond drilling program targeting deeper extensions and untested IP anomalies, as well as further surface work and analysis of approximately 1,000 metres of historical core. The company has secured firm commitments for a $2.1 million placement, with additional director participation subject to approval, to fund ongoing exploration and resource evaluation work that could support future modelling of a JORC-compliant resource, reinforcing Norfolk’s position in a copper market seeking new supply sources.

The most recent analyst rating on (AU:NFL) stock is a Hold with a A$0.10 price target. To see the full list of analyst forecasts on Norfolk Metals Ltd. stock, see the AU:NFL Stock Forecast page.

More about Norfolk Metals Ltd.

Norfolk Metals Ltd is an ASX-listed exploration company focused on copper projects, notably the Carmen Copper Project, which hosts a foreign copper oxide resource estimate reported under Canadian NI 43-101 standards. The company is targeting sulphide and oxide mineralisation along regional structures such as the Carmen Tobaco Thrust and the Higueritas Belt, aiming to advance these assets toward JORC-compliant resource reporting and attract institutional and sophisticated resource investors.

Average Trading Volume: 195,588

Technical Sentiment Signal: Sell

Current Market Cap: A$8.48M

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