{"id":2027,"date":"2023-11-21T23:35:38","date_gmt":"2023-11-21T23:35:38","guid":{"rendered":"https:\/\/economicherald.net\/?p=2027"},"modified":"2023-11-21T23:35:38","modified_gmt":"2023-11-21T23:35:38","slug":"with-approvals-and-cash-in-the-bag-norfolks-path-to-uranium-drilling-at-orroroo-is-now-clear","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2027","title":{"rendered":"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear"},"content":{"rendered":"<p>Norfolk Metals secures South Aussie government approval for maiden drilling at its Orroroo uranium project<br \/>\nCompany commits to drilling as many metres as it can in its pre-Christmas program<br \/>\nDrilling to cover three known uranium occurrences and associated paleochannel structures<br \/>\nMajor current shareholders have cornerstoned oversubscribed placement to raise $1m for exploration<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Norfolk Metals is all set to start maiden drilling at its Orroroo uranium project after securing approval from the South Australian Department of Energy and Mining.<\/strong><\/p>\n<p>The timing is exquisite given that uranium prices have now surged past the US$80\/lb mark for the first time in over 15 years, neatly meeting the <a href=\"https:\/\/stockhead.com.au\/resources\/ground-breakers-uranium-needs-us80-lb-incentive-to-meet-demand-this-decade-bellevue-raises-70m\/\"><strong>price point<\/strong><\/a> that some say is the incentive needed to avoid a uranium shortage this decade.<\/p>\n<p>It is also likely to trigger a flurry of activity over both mothballed and new uranium projects.<\/p>\n<p>Projects such as <a href=\"https:\/\/stockhead.com.au\/company\/norfolk-metals-nfl\/\"><strong>Norfolk Metals\u2019 (ASX:NFL)<\/strong><\/a> 659km2 Orroroo project over the Walloway Basin, which has never been explored for uranium despite having sediments with the same age as sediments from the Frome Embayment, which hosts several commercial deposits such as Honeymoon and Four Mile.<\/p>\n<p>However, the company is not going into the project blind with uranium peaking at 650 parts per million in one of the historical coal drill holes tested February this year and all three of the historical coal holes tested delineated uranium presence.<\/p>\n<p>Additionally, expert uranium geologist Mark Couzens \u2013 who will <a href=\"https:\/\/stockhead.com.au\/resources\/veteran-ex-cameco-geologist-leads-norfolks-maiden-uranium-drilling-at-orroroo\/\"><strong>lead the first phase of drilling<\/strong><\/a> \u2013 has also defined a paleochannel model that opens up more than 20km of prospective uranium mineralised palaeochannel targets.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Drill program green light<\/strong><\/h2>\n<p>NFL has liaised with Watsons Drilling to contract the most suitable drill rig for an expedited program.<\/p>\n<p>This is expected to be the Bourne 1000THD rig, the same model that is currently used by $230m capped Alligator Energy (ASX:AGE), as it can drill up to one hole a day while allowing time for downhole logging and grout\/remediation work.<\/p>\n<p>NFL says it is committed to drill as many metres as can be achieved while following all guidelines and safety procedures in this phase one pre-Christmas drilling program.<\/p>\n<p>Results from this program will be reviewed and interpreted prior to subsequent exploration activities commencing along with further community and stakeholder engagements.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Strategic placement<\/strong><\/h2>\n<p>Professional and sophisticated investors have also demonstrated their confidence in the company\u2019s plans amidst the positive sentiment for uranium by oversubscribing for a strategic placement of 5 million shares priced at 20c to raise $1m.<\/p>\n<p>This was cornerstoned by several of the current major shareholders.<\/p>\n<p>Proceeds from the placement will be used primarily for exploration at Orroroo.<\/p>\n<p>\u201cWe are pleased to announce the company has secured additional capital via firm commitments in a placement corner stoned by our loyal major shareholders,\u201d executive chairman Ben Phillips said.<\/p>\n<p>\u201cThis strategy strengthens our structure and ensures we give the Orroroo project the best possible opportunities for success\u201d.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Norfolk Metals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/with-approvals-and-cash-in-the-bag-norfolks-path-to-uranium-drilling-at-orroroo-is-now-clear\/\">With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Norfolk Metals secures South Aussie government approval for maiden drilling at its Orroroo uranium project Company commits to drilling as many metres as it can <a href=\"https:\/\/economicherald.net\/?p=2027\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2028,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=2027\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Norfolk Metals secures South Aussie government approval for maiden drilling at its Orroroo uranium project Company commits to drilling as many metres as it can [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=2027\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-21T23:35:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/11\/NFL_path-8ecEhb.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear\",\"datePublished\":\"2023-11-21T23:35:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027\"},\"wordCount\":555,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/NFL_path-8ecEhb.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=2027#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=2027\",\"name\":\"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/NFL_path-8ecEhb.jpeg\",\"datePublished\":\"2023-11-21T23:35:38+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=2027\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/NFL_path-8ecEhb.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/NFL_path-8ecEhb.jpeg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=2027#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=2027","og_locale":"en_US","og_type":"article","og_title":"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear - Economic Herald","og_description":"Norfolk Metals secures South Aussie government approval for maiden drilling at its Orroroo uranium project Company commits to drilling as many metres as it can [more...]","og_url":"https:\/\/economicherald.net\/?p=2027","og_site_name":"Economic Herald","article_published_time":"2023-11-21T23:35:38+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/11\/NFL_path-8ecEhb.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=2027#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=2027"},"author":{"name":"","@id":""},"headline":"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear","datePublished":"2023-11-21T23:35:38+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=2027"},"wordCount":555,"commentCount":0,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=2027#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/11\/NFL_path-8ecEhb.jpeg","articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/economicherald.net\/?p=2027#respond"]}]},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=2027","url":"https:\/\/economicherald.net\/?p=2027","name":"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=2027#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=2027#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/11\/NFL_path-8ecEhb.jpeg","datePublished":"2023-11-21T23:35:38+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=2027#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=2027"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=2027#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/11\/NFL_path-8ecEhb.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/11\/NFL_path-8ecEhb.jpeg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=2027#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"With approvals and cash in the bag, Norfolk\u2019s path to uranium drilling at Orroroo is now clear"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/2027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2027"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/2027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/2028"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}