Norwest Minerals

CHARLES SCHAUS

CEO / DIRECTOR

(ASX:NWM)

◾ Company Name: Norwest Minerals ◾ Company ASX code: NWM ◾ Key commodities: Copper, lithium and rare earth elements ◾ Key Personnel: Michael Tilley, Non-Executive Chairman | Charles Schaus, CEO / Director ◾ Locations: Western Australia ◾ Market Cap as of 15/07/22: $5.05M ◾Share price range over 12 months as of 15/07/22: $0.090 - $0.025 ◾ Company Website: norwestminerals.com.au

COMPANY PROFILE

Norwest Minerals is a dedicated Western Australian mineral exploration company, having an extensive portfolio of prospective copper, gold and battery mineral projects including lithium and rare earth elements.

The company’s various projects are located among world-class mineral discoveries while others have been discovered and boast exciting walkup drill targets identified by historic drilling, recent surface geochemistry and geophysical programmes.

Top of the list in terms of battery metals, however, is Norwest’s 100%-owned Bali Copper Project located in Western Australia, 250kms west of the town of Newman, which covers 41km2 with four main prospects identified along the 8km northwest trending Bali shear zone.

Norwest says the project has been previously mined, with small-scale copper mining occurring in the 1950s and 1960s.

There has been more recent exploration at the project, with drill testing taking place in the late 1980s, with most holes less than 30m deep, but turning up drill intercepts that include:

◾ 9 metres @ 1.8% Copper and 9 g/t silver from 8 metres downhole, ◾ 12 metres @ 3.6% Copper and 16 g/t silver from 0 metres downhole, and ◾ 6 metres @ 7.2% Copper and 27 g/t silver from 17 metres downhole

Further to that, Norwets has had independent geochemistry analysis performed, which the company says has confirmed strong prospectivity for copper mineralisation in the areas previously sampled, as well as many untested zones along and away from the main Bali shear.

There remains plenty of scope for further exploration at the project, and Norwest says it has a 30 hole, 4,000m RC drill programme on the cards for August 2022.

Norwest’s other battery metalsfocussed project is Arunta West, which covers an enormous 840km2 area located about 600km west of Alice Springs, out near the border between Western Australia and the Northern Territory.

Norwest is currently the majority owner of the project (82% to 100%), which includes three identified anomalies of interest to the battery metals market, featuring one rare earth elements (REE) anomaly, one LCT pegmatite (lithium) anomaly and an IOCG anomaly.

The REE anomaly is a 3km zone of elevated Rare Earth Elements cerium and yttrium – highly prized in the manufacturing of alloys – and lanthanum, which is most commonly used in the production of precision optics.

The company says that the geological setting of that cerium and yttrium anomaly is “almost identical to the Dazzler & Iceman REE deposits at Brown’s Range”, a project currently operated by Northern Minerals (ASX:NTU), outside of Halls Creek.

The LCT anomaly is a 6km x 2km zone of elevated/coincident LCT lithium (Li), tantalum (Ta) and niobium (Nb), which are recognised as key components for fertile lithium-hosting LCT pegmatites.

Norwest is developing its strategy to further explore and identify it as a workable resource.

Additionally, the Arunta West project is home to a 3km x 1.5km IOGC anomaly with an internal 2.5km x 0.5km gold anomaly, which is along strike from neighbour IGO’s (ASX:IGO) Arcee gold prospect.

Norwest has three other major projects, which aren’t battery metalsfocussed, including its 100% owned Bulgera Gold Project, the 100% owned Marriott Nickel Project and an 84% stake in the highly prospective Marymia East gold and base metals project, all in Western Australia.

KEY INVESTMENT HIGHLIGHTS

APRIL 28, 2022: Norwest eyes REE, lithium and IOCG targets as exploration restarts at Arunta West. MARCH 9, 2022: Arunta West CopperGold anomaly detected. FEBRUARY 2, 2022: High grade gold intersections at Bulgera Gold Project.