Australian Rare Earths Limited (ASX: AR3) applied for tenure in South Australia to explore uranium mineralization amenable to in-situ recovery mining. The Company has applied ELA 2024/00045 in the Callabonna Sub-basin, targeting an anomalous downhole gamma response identified in previous drilling. The area includes the Hamilton Creek Prospect, where strong indications of uranium mineralization have been identified from historic borehole gamma logging.
The Hamilton Creek ELA adds to the Company's uranium portfolio, totaling 3,400 kilometers combined with the Overland and Triggs Bore projects. This expansion is part of its strategy to secure ground in South Australia's prospective for uranium resources. The proximity to the Beverly uranium mine underscores the prospectivity of Hamilton Creek. Once the license is granted, the Company anticipates an early start to on-ground exploration, with planning for work programs already underway.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
