David Fowler bolsters Norfolk board amid Chilean copper campaign

Norfolk Metals has reinforced its board with the appointment of finance and mining specialist David Fowler as a non-executive director, bringing in his Chilean mining expertise to help develop the company’s recently acquired flagship Carmen copper project in Chile’s famed Atacama region.

Fowler is the director of Transcendence Mining, the option vendor and project operator of Carmen, and as chief financial officer at Merdeka Copper Gold, was instrumental in growing the group into a multi-billion-dollar multi-commodity business.

Norfolk says his appointment will enhance corporate governance at the company through his extensive experience in mining finance and operations across South America, including more than a decade in Chile. Helpfully, Fowler is also proficient in Spanish. 

Norfolk Metals executive chairman Ben Phillips said: “Having worked with Dave and the Transcendence team since Norfolk was introduced to the Carmen Copper project, we are delighted to welcome Dave to the board of Norfolk. Norfolk and Transcendence have been aligned in our vision and work throughout 2025 and the official appointment of Dave will further strengthen where we are heading as we drill Carmen and continue to review copper opportunities in Chile.” 

Norfolk has also been busy outside of the boardroom. Since mid-August, it has drilled 20 holes in its 50-hole maiden drilling campaign at Carmen, targeting a near-surface supergene copper resource, which may be amenable to heap leaching. It is also targeting extensions and validation of mineralisation between its Carmen Main resource and the southwest Tobaco prospect. 

Carmen is a copper-dominant asset believed to also contain gold and silver potential. It lies in the west-Andean foothills and is accessible from the coastal centre of La Serena. It spans 46.6 square kilometres of contiguous exploration and exploitation licences, featuring surface and shallow supergene copper mineralisation, which the company believes could be amenable to heap leaching. 

Norfolk entered a binding earn-in option agreement to acquire the Carmen copper project in March. The agreement provides for the company to initially earn a 70 per cent interest by committing $3 million in exploration over three years, with the path to full ownership upon fulfilment. 

In 2007, SRK Consultants estimated Carmen hosts a non-JORC compliant mineral resource of 5.6 million tonnes at 0.60 per cent copper in the oxide zone, with historical drilling indicating extensive soluble copper from surface and deeper sulphide potential. 

The project’s proximity to the major Nueva Unión joint venture by Teck and Newmont - 16 kilometres northeast - underscores the district’s world-class porphyry-copper credentials.

Norfolk expects to receive assay result throughout the remainder of the year, accompanied by geological interpretations and cross-sections to guide further exploration.

Fowler’s appointment significantly reinforces Norfolk’s operational capabilities in Chile. He facilitated more than US$400 million (A$607 million) in equity and US$4 billion in debt funding in his role at Merdeka, growing the company to a US$9 billion enterprise value by 2024. 

Additionally, his prior leadership at Finders Resources, operating a 20,000-tonne-per-annum copper heap leach project, directly aligns with Norfolk’s vision for Carmen as a low-cost, high-margin cathode producer.

The current drilling program expenditure advances Norfolk’s earn-in agreement, which initially secured 70 per cent of Carmen via its $3 million exploration commitment. It should achieve full ownership shortly as exploration progresses, which will then trigger Transcendence to nominate Jason Greive, another experienced mining executive, to Norfolk’s board. 

Carmen’s copper-mineralised supergene blanket is amenable to heap leach, supported by historical column tests indicating copper recoveries of between 72 and 82 per cent. 

The blanket shows characteristics of a manto-style draped surficial supergene copper mineralisation. Some interpretations suggest it could potentially point to a classic iron-oxide copper-gold style of mineralisation at depth. 

Norfolk’s milestones to year’s end include launching diamond core drilling, reassaying historical core for gold and silver, which was not previously assayed, commencing metallurgical testwork on oxide material, and submitting additional drill permits to Chile’s mining authorities.

The company aims to establish Carmen as a low-cost, profitable heap leach copper operation, capitalising on Chile’s proven track record for these projects and rising global copper demand.

Norfolk is positioning itself as a key player in Chile’s copper sector, blending strategic leadership with focused exploration to unlock Carmen’s potential in a premier mining jurisdiction.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au