Adavale Resources (ASX:ADD) has completed the acquisition of a uranium exploration licence in South Australia from Kilonova Metals.
The licence, EL6553, covers 456km2 across Mundowdna South East and MacDonnell Creek, adjacent to Adavale’s Mundowdna South and Lake Surprise Uranium projects.
Historical exploration on the licence has identified numerous anomalous uranium target areas, including drill intercepts of 1m @ 263 parts per million (ppm) triuranium octoxide and 0.65m @ 235ppm triuranium octoxide.
Executive Director David Riekie says the licence shows palaeochannels containing ample evidence of elevated uranium occurrences.
“We also believe other parts of the defined palaeochannels remain under-explored as the initial exploration of the area was abruptly halted following the fall in the uranium price during 2011,” he says.
“We can now capitalise on this earlier exploration and follow-up on these clearly defined targets. The exploration program for our uranium prospects is currently being finalised, which will include a drilling program of up to 40 holes.”
Adavale is finalising heritage clearance surveys and drilling programs to test for uranium redox boundaries at MacDonnell Creek and surrounds.
Adavale Resources is a uranium and nickel sulphide explorer focused on its 12 highly prospective granted licences along the Karagwe-Ankolean belt in Tanzania. The company also holds five granted licences prospective for uranium in South Australia and four others on the Eyre Peninsula.
Write to Aaliyah Rogan at Mining.com.au
Images: Adavale Resources
