Orpheus Uranium (ASX:ORP) has completed its acquisition for the Pirie Basin Project in South Australia, and will continue to work with government authorities to conduct regulatory processes for the transfer of the tenements to its subsidiary.
In April 2025, the company entered into an agreement with privately held FMG Resources to acquire 1,100km2 of landholding, adjacent to Alligator Energy’s (ASX:AGE) Samphire Uranium Project.
Orpheus, which has a market capitalisation of $8.45 million, paid an upfront consideration of $400,000, and will pay $4.5 million after achieving certain milestones.
The acquisition provides Orpheus with additional prospective ground in a region that is known to host sedimentary-style uranium mineralisation, further strengthening the company’s exploration portfolio.
Managing Director Clinton Dubieniecki says the Pirie Basin Project represents an “exciting” opportunity for the company.
“We are eager to commence our planned work program once the transfer and stakeholder engagement is completed,” Dubieniecki says.
Orpheus intends to analyse historical data and conduct geological modelling at Pirie Basin, as well as engage with key stakeholders to build relationships and facilitate on-ground exploration activities.
The company intends to explore relevant geophysical techniques and apply them based on land accessibility and historical data analysis.
Once completed, Orpheus will work to secure approvals to support a maiden drilling program.
Orpheus Uranium is a mineral explorer focused on its project portfolio in South Australia and Northern Territory.
Write to Aaliyah Rogan at Mining.com.au
Images: Orpheus Uranium
