Norfolk Metals Secures Earn-In Agreement for Chilean Copper Project.

Norfolk Metals (ASX: NFL) has entered a binding earn-in agreement for the Carmen Copper Project (CCP) in Chile’s Atacama Region. The company can earn up to 100% of the project by funding AU$3 million in exploration over three years. The 46.6km concession is located 82km from Vallenar, a major mining hub. The project holds a historical copper oxide resource of 5.6Mt @ 0.6% Cu, with high-grade oxide and sulphide mineralization, including 8m @ 2.10% Cu and 69m @ 1.37% Cu. 

Norfolk will collaborate with Transcendence Mining Pty Ltd, leveraging their expertise to expedite resource growth. The project offers exposure to rising copper demand, supported by electric vehicle and renewable energy sectors. With over 7.5km of untested strike length, Norfolk aims to rapidly expand the resource base, focusing on cost-effective heap-leaching methods. An AU$1 million capital raise has also been secured for the transaction.

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