Australian Rare Earths Limited (ASX:AR3) Extends Uranium Mineralisation
Australian Rare Earths Limited (ASX:AR3) has announced the extension of uranium mineralisation along the Western Margin Target Zone at its Overland Project. The latest assays from the 2024 drilling campaign confirm the presence of uranium mineralisation, reinforcing the company’s geological model for sedimentary-hosted uranium deposits.
Assay Results and Geological Validation
The assays from drill holes OV012 and OV013 intersected anomalous uranium concentrations over 1-meter intervals, particularly at geological contacts between permeable sands and lignitic clays. These results correlate with gamma and pXRF data, validating the depositional model for sedimentary-hosted uranium.
Mining Potential and Future Exploration
The mineralisation observed is amenable to In-Situ Recovery (ISR) mining methods, indicating significant potential for sustainable uranium extraction. The active uranium system identified suggests increasing prospects for future discoveries within the Overland Project area. Additional drilling is planned for April 2025 to follow up on the strike extension of the mineralisation.
Executive Comments
Travis Beinke, Managing Director and CEO of Australian Rare Earths Limited, stated, “We’re pleased to announce the extension of uranium mineralisation along the highly prospective Western Margin Target Zone at our Overland Project. These assay results validate our geological model for ISR amenable uranium mineralisation. To confirm there is a working system with uranium present so early in our exploration efforts is a great start and reinforces our confidence in the project’s potential. This milestone is another step forward as we continue to advance Overland towards becoming a key asset in our portfolio. The upcoming assay results from the first swing of our 2025 drilling program will further guide our strategic exploration plans. We remain committed to unlocking the full potential of the Overland Project, including prioritising follow-up drilling of the recent discovery of shallow calcrete hosted uranium and delivering long-term value to our shareholders.”
Upcoming Assays
The company anticipates receiving assay results from the initial phase of the 2025 drilling program in the coming weeks. These results are expected to inform and guide future exploration targeting, enhancing the project’s development strategy.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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