Consolidated Uranium to acquire New Standard Resources

Highlights:

• Represents CUR’s initial foray in South Australia, a uranium mining friendly jurisdiction with an operating uranium mine and several near-term production and advanced development projects including Quasar Resources’ Four Mile Mine, Boss Energy’s Honeymoon project and Alligator Energy’s Samphire project.
• Historic drilling intersected high grade, shallow mineralisation including:
  • 1 m grading 0.355% U3O8 from 66 m.
  • 4 m grading 0.086% U3O8 from 67 m
• Mineralisation is potentially amenable to In Situ recovery.
• Exploration potential remains high with widely spaced historic drilling testing a limited area of the favourable paleochannel target area.

Philip Williams, CEO commented,

“Adding the Yarranna project in South Australia is a natural extension of our Australian strategy. The country remains a key focus for CUR as it is host to significant uranium resources, operating uranium mines and an attractive federal and state level mining regime. To date, we have focused on the acquisition of historic resources and exploration projects in Queensland where the recent addition of the West Newcastle Range, Teddy Mountain and Ardmore East projects established a critical mass of seven projects for CUR in the state. South Australia is a desirable location to explore for uranium with an existing operating uranium mine and several advanced development projects. We believe the projects have 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.”

Read the article online at: https://www.globalminingreview.com/mining/01112022/consolidated-uranium-to-acquire-new-standard-resources/