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ASX:NWM

Norwest Minerals Limited

Materials / Diversified Metals & Mining

Current price

$0.075

0.003 (3.85%)

Last trade: Invalid date GMT

Market cap

$8.16m

Market closed

Investor Presentations

Principal Activity

Norwest Minerals has an extensive portfolio of prospective gold and base-metal properties in Western Australia. Our strategy is focussed on delineating an economically viable resource capable of rapidly transforming the Company from an explorer into a mineral producer. Our WA projects are located among world-class mineral discoveries and boast exciting walk-up drill targets identified by historic drilling, recent surface geochemistry and geophysical programmes. The Company is implementing its strategy to add near term shareholder value through sound but aggressive exploration of these WA assets, summarised as follows: The Arunta West project -prospective for iron oxide copper gold (IOCG). A 4km by 8km coincident gravity-magnetic anomaly at the North Dovers prospect is the target of several deep diamond drill holes. Norwest will be the first explorer to drill at North Dovers with the work scheduled to commence May 2019. Bali:  The Company undertook a project-wide airborne electromagnetic geophysical survey designed to highlight conductors representing potential primary copper mineralisation that may be located within the project area. Processing of the data to date, failed to reveal strong, discrete EM anomalies that present as walk-up drill targets. Further ground survey work and geological interpretation is being considered. Bulgera: On 9 July 2019 Norwest Minerals announced the 100% acquisition of the Bulgera Gold Project (“Bulgera”) located 200 kilometres north of Meekatharra with an existing haul road to the Plutonic Gold operation4. Bulgera's historic exploration, development and mining database shows multiple gold lodes extending below the shallow open cut pits and along the 5-kilometre strike of the sheared greenstone package. Marriotts:remodel the existing Inferred Resource of 662,000 tonnes at 1.3% Nickel for 8,700 tonnes of contained nickel with the aim of converting part of the resource from Inferred to Indicated classification. Also, conduct a small study into sale or toll treating options of the resource. Marymia:In March 2019, a first pass RC drilling programme at Marymia’s Jenkins prospect intersected relatively wide zones of near surface anomalous zinc and lead mineralisation trending along a 1.2-kilometre strike. The Company has planned an extensive infill aircore drilling programme to test the area for economic zinc & lead mineralisation. The drilling is scheduled to commence early next calendar year. The Ninghan Project -consisting of four tenements, was acquired together with Norwest’s 100% purchase of the Warriedar project tenements. The Ninghan tenements are prospective for gold and base metals and are located approximately 40 kms southeast of the Warriedar package and 20 kms west of the former Gold Rush settlement of Paynes Find. Warriedar/ Ninghan: RC drilling, surface sampling and ground magnetics were completed at Norwest’s Warriedar Project. Gold mineralisation was intersected at the Mount Laws prospect from near-surface to over 150 metres deep along a strike of over 200 metres. At the nearby Ninghan tenements, aircore drilling and soil sampling highlighted several gold targets to be followed up with RC drilling. In addition, the Company will continually assess strategic corporate opportunities that may have the potential to create additional value for all Shareholders.


Address

1A/7 Ventnor Ave, West Perth WA 6005, Australia

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Copyright © 2020 Fresh Equities. All rights reserved. ACN 619 657 028. CAR: 001267539 of AFSL: 471379.

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Copyright © 2020 Fresh Equities. All rights reserved. ACN 619 657 028. CAR: 001267539 of AFSL: 471379.