South32 is deepening its presence in the Kalahari Copper Belt by expanding its strategic alliance agreement (SAA) with Noronex to include two newly granted tenements in Botswana.
This move follows promising drill results from Noronex’s Damara copper project in Namibia, where South32 is already one year into a five-year, $15 million earn-in commitment.
Under the updated agreement, South32 will have the right to earn a 60 per cent interest in Botswana tenements PL0074/2025 and PL0075/2025 by funding $5 million in exploration over five years.
The $1 million in initial funding, to be paid in quarterly advances, will begin in the first quarter of the 2025–26 financial year (FY26) post execution of the earn-in agreement.
“We are delighted that South32 has agreed to expand our existing strategic alliance by including the two adjacent Botswana licences into the SAA as an exploration project and exercising its earn-in right,” Noronex chief executive officer Victor Rajasooriar said.
“Given the exceptional geological potential of this ground, which has been de-risked by recent drilling, South32 shares our view that this ground is leveraged to a potential major discovery.”
The decision follows a site visit by South32 and Noronex representatives and a technical review of recent drilling conducted at Damara.
Seven reverse circulation holes comprising 1610m at Damara intersected anomalous copper values, with up to 800 parts per million (ppm) in hole 25DARC03 and 740ppm in a follow-up hole, confirming the geological potential of the underexplored Damara terrane.
“The recent drilling has substantially advanced our understanding of the potential of this basement complex and the opportunity to make a substantial copper discovery,” Rajasooriar said.
“Our geology team has interpreted the results and, after applying the central African copper belt’s basement deposit models in this terrane, have identified a number of exciting targets to follow up.”
South32’s expanding role in South Africa positions it at the forefront of unlocking new-generation copper discoveries across the Kalahari Copper Belt.
Its partnership with Noronex spans more than 8500km² of tenements, encompassing over 300km of strike across both Namibia and Botswana.
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