Norfolk Metals Secures AU$3.5 million to Advance Chilean Copper Project

Norfolk Metals Ltd (ASX: NFL) has successfully raised AU$3.5 million through an oversubscribed placement, securing funding to accelerate its Maiden Drill Campaign at the Carmen Copper Project in Chile’s Atacama Region. The capital was supported by new investors and existing shareholders, including Norfolk’s board and Transcendence Mining directors. The funds will be used to support drilling activities, obtain necessary environmental permits, conduct metallurgical analysis, and cover general operating expenses.

The placement comes at a strategic time, amid surging copper prices, and supports Norfolk’s ambition to establish a shallow copper oxide resource for a low-cost heap leach copper cathode operation. Covering 46.6km², the Carmen Copper Project holds promising prospects for both copper oxide and sulphide mineralisation. In addition, Norfolk Metals owns two other exploration assets: the Orroroo Uranium Project in South Australia and the Roger River Project in Tasmania, both considered prospective for copper and gold. The company aims to fast-track exploration and define a world-class copper resource in the globe’s leading copper-producing nation.

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