Oar Resources (ASX:OAR) has expanded its uranium landholding in Brazil by pegging a further 650km2 of ground in the states of Rio Grande Do Sul and Goiás.
The Amorinopolis and Grande projects represent a 283% increase in the company’s Brazilian landholding, which now spans a total of 880km2.
Both projects are prospective for sandstone or sedimentary-hosted uranium mineralisation and lie within 10km of historical uranium occurrences identified by Industrias Nucleares do Brasil (INB), the government body responsible for the exploration and development of uranium in Brazil.
CEO Paul Stephen says the acquisition of the tenements supports the company’s objective to develop a diversified project portfolio for a decarbonised future.
“We are working closely with INB to ensure we can rapidly develop these projects over time,” Stephen says.
“Field work with Oar’s in-country team is starting in June to identify prospective drill targets.”
Work is currently underway to lodge exploration permits with the relevant authorities to expedite exploration activities.
Oar says a preliminary exploration plan for Amorinopolis and Grande has been prepared, comprising a detailed desktop review and translation of historical data.
Further, surface scintillometer readings, as well as soil and rock chip samples, will be used to drive the next stage of exploration and delineate potential drill targets.
The company is also continuing to assess additional areas within Brazil and is committed to acquiring high-quality projects.
Oar Resources is a diversified mineral explorer focused on its projects in Namibia, Brazil, and Australia.
Write to Aaliyah Rogan at Mining.com.au
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