{"id":2689,"date":"2023-12-04T23:33:48","date_gmt":"2023-12-04T23:33:48","guid":{"rendered":"https:\/\/economicherald.net\/?p=2689"},"modified":"2023-12-04T23:33:48","modified_gmt":"2023-12-04T23:33:48","slug":"adavale-picks-up-key-licence-in-south-australia-as-uranium-bull-run-builds-up-a-head-of-steam","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2689","title":{"rendered":"Adavale picks up key licence in South Australia as uranium bull run builds up a head of steam"},"content":{"rendered":"<p>Adavale Resources picks up new 591km2 South Australian exploration licence<br \/>\nLicence expands tenure in highlight prospective region, home to Honeymoon and Junction Dam deposits<br \/>\nCompany to double down on drill targets in near term<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Adavale Resources has been granted a key exploration licence (EL6957) in South Australia just as uranium spot prices <\/strong><a href=\"https:\/\/stockhead.com.au\/resources\/uranium-has-started-a-new-bull-run-but-who-will-bake-the-first-yellowcake\/\"><strong>push past <\/strong><strong>US$80\/lb<\/strong><\/a><strong> towards new recent highs.<\/strong><\/p>\n<p>With nuclear energy also crucial to the clean energy transition, <a href=\"https:\/\/stockhead.com.au\/company\/adavale-resources-add\/\"><strong>Adavale Resources\u2019 (ASX:ADD)<\/strong><\/a> move to expand its highly prospective uranium footprint in State\u2019s Flinders Ranges couldn\u2019t come at a better time for the explorer.<\/p>\n<p>EL6957 (formerly ELA 2023\/00043) also known as Mundowdna South, is contiguous to and south of the company\u2019s existing Mundowdna licence EL6821.<\/p>\n<p>The new licence covers 591km2, which includes a large recognisable alluvial outwash system shedding from the central northern part of the Flinders Ranges, significantly expands the Mundowdna exploration package and ADD\u2019s overall uranium tenure in South Australia.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Palaeochannels prospective for uranium<\/strong><\/h2>\n<p>The company\u2019s tenement package is near the northern end of the Flinders Rangers, a well-established source of uranium that is mobilised into and eventually deposited into palaeochannel systems by saline groundwater shedding from the Ranges.<\/p>\n<p>These Flinders Ranges palaeochannel systems are host to several world class sandstone uranium deposits such as Beverly, Four Mile, Junction Dam, Gould\u2019s Dam and Honeymoon.<\/p>\n<p>The company says <a href=\"https:\/\/stockhead.com.au\/resources\/adavale-uses-satellite-data-to-double-down-on-potential-uranium-in-south-australia\/\"><strong>high<\/strong><strong>-resolution satellite imagery<\/strong><\/a>, gravity and EM survey data has all highlighted the palaeochannels prospective for uranium exploration.<\/p>\n<p>\u201cThis new licence significantly expands our ground holding in a highly prospective uranium province,\u201d ADD executive director David Riekie said.<\/p>\n<p>\u201cA thorough interrogation of the comprehensive, publicly accessible dataset available, has assisted Adavale to identify interpreted palaeochannel systems and refine priority targets within its tenure.<\/p>\n<p>\u201cThe outwash and palaeochannel systems shedding from the Flinders Ranges appear to be the most prospective for uranium.<\/p>\n<p>\u201cOn this basis, Adavale is confident to progress its exploration plans.\u201d<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>Pic: Overview of interpreted palaeodrainage and palaeochannels at surface with modern drainage overprinting sections of the outwash fans. Source: ADD.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Doubling down on drill targets<\/strong><\/h2>\n<p>ADD will now refine and rank priority drill targets based on the current survey data and assess infill gravity and EM survey areas to finalise exploration programs.<\/p>\n<p>The next steps will then be heritage clearances in consultation with Traditional Custodians, finalising exploration and drilling programs and notifying the South Australian Mine Department of intended work programs \u2013 and securing approvals.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p>This article was developed in collaboration with Adavale Resources, a Stockhead advertiser at the time of publishing.<\/p>\n<p>\u00a0<\/p>\n<p>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/adavale-picks-up-key-licence-in-south-australia-as-uranium-bull-run-builds-up-a-head-of-steam\/\">Adavale picks up key licence in South Australia as uranium bull run builds up a head of steam<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Adavale Resources picks up new 591km2 South Australian exploration licence Licence expands tenure in highlight prospective region, home to Honeymoon and Junction Dam deposits Company <a href=\"https:\/\/economicherald.net\/?p=2689\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":2690,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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