Thunder Gold Completes Sale of 25% Stake in Namibia’s Kalahari Copper Belt Project to Noronex
Thunder Gold Corp, formerly known as White Metal Resources, has completed its exit from Namibia by selling its remaining 25% interest in the Kalahari Copper Belt to its joint venture partner Noronex.
The belt includes the Witvlei and Dordabis projects, collectively known as the DorWit projects, boasting a current JORC (2012) compliant resource of 10 million tons at 1.3% Cu, with significant exploration potential.
Noronex’s acquisition of Larchmont Investments in November 2020 led to a majority stake in Aloe 237 Investments, the owner of the Kalahari Copper Belt licenses.
Now, with the proposed acquisition, Noronex will hold a 95% interest in Aloe 237, consolidating its position in Namibia’s highly prospective Kalahari Copper Belt.
The acquisition streamlines ownership structures and allows Noronex to focus on developing its extensive land package in the Kalahari Copper Belt, spanning over 800,000 hectares and representing more than 300 kilometers of copper prospective strike length.
Thunder Gold CEO Peter Hanson noted that this strategic move aligns with Noronex’s objectives and enables Thunder Gold to concentrate on its flagship gold property, Tower Mountain, in Ontario’s Shebandowan Greenstone Belt.
Additionally, Thunder Gold had previously sold its shares in Aloe 238, which held the Okohongo Copper-Silver Property, in March 2022.
