Adavale completes acquisition of South Australian uranium licence

Adavale Resources (ASX:ADD) has completed the acquisition of a uranium exploration licence in South Australia from Kilonova Metals.

License EL6553 covers 456 km² by Mundowdna South East and MacDonnell Creek, adjacent to Adavale’s Mundowdna South and Lake Surprise uranium projects.

Historical surveys conducted on the concession identified numerous uranium anomalies, including drilling intercepts at a depth of 1 m at a concentration of 263 parts per million (ppm) triuranium octaoxide and 0.65 m at a concentration of 235 ppm triuranium octaoxide.

Executive director David Riekie says the licence shows paleochannels containing ample evidence of elevated uranium levels.

“We also believe that other parts of the defined paleochannels remain underexplored because initial exploration in this area was abruptly interrupted following the collapse in the uranium price in 2011.” He says.

“We can now build on this prior exploration and continue to advance these clearly defined objectives. The exploration program for our uranium prospects is currently being finalized and will include a drilling program of up to 40 holes.”

Adavale is finalizing historic site cleanup studies and drilling programs to test uranium redox limits in and around MacDonnell Creek.

Adavale Resources is a uranium and nickel sulphide exploration company focused on 12 highly prospective awarded licences along the Karagwe-Ankolean belt in Tanzania. The company also has five awarded prospective uranium licences in South Australia and four others on the Eyre Peninsula.

write to Aaliyah Rogan in Mining.com.au

Images: Adavale Resources