FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Consolidated Uranium step into South Australia

1 November 2022 13:10

Consolidated Uranium continues a streak of acquisitions and has taken its first steps into South Australia with the purchase of the advanced stage Yarrana Uranium project in the Eucla Basin.

Historical drilling has already shown shallow mineralisation with multiple high grades up to 0.355 per cent U3O8 — with noted potential for in situ recovery.

South Australia is well known as a hospitable jurisdiction for uranium mining, home to Honeymoon, holding a 71.6 Mlb U3O8 JORC resource estimate at an average grade of 620ppm amid plentiful other advanced and near-term projects

Yarrana is the near-term uranium producer’s fifth Australian acquisition in under three months, having acquired the Queensland-based West Newcastle, Teddy Mountain, Ardmore and Ben Lomond projects, all showing substantial uranium prospects.

The company said the combination of significant resources, operating uranium mines and attractive federal and state mining regimes make South Australia a natural extension of its strategy.

“We believe the projects have the potential for additional discovery based on past drilling, which encountered strong grades over wide spacing, and the potential for in situ recovery which is another attractive feature that we intend to further evaluate,” chief executive Philip Williams said.

CUR’s Toronto Stock Exchange-listed share price was trading at 1.86 Canadian dollars today (12.58 pm UTC+8 hours).

MORE NEWS

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This