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Orpheus Uranium Ltd (ASX:ORP) told investors it would be putting off planned drilling at the Frome project in South Australia until the 2025 calendar year, based on the advice of a group representing traditional owners.
Orpheus has begun a previously agreed process of securing authorisation to drill at the play – located in SA’s Frome Basin – but was advised by the Adnyamathanha Traditional Lands Association (Aboriginal Corporation, also known as ATLA) that this could not be completed as intended.
The ATLA is currently under special administration, which poses a challenge to its ability to engage in Native Title Negotiations. And while Orpheus had hoped for a resolution – mainly through discussions with ATLA administrators and the Department for Energy and Mining (DEM) – its most recent communications from the former’s legal representatives suggested this would take more time and work.
As a result, Orpheus has decided to refocus its attention on another South Australian uranium play, that of Radium Hill South, which is subject to a different Traditional Owner group, and with no restrictions in respect of ability to engage in Native Title negotiations.
CEO Clint Dubieniecki said that despite the news, Orpheus had a list of plans for uranium exploration throughout the state.
“Although delays to our planned near-term execution of on-ground activities at the Frome project is a set-back, the project and the remainder of the company’s exploration portfolio remain highly prospective,” he said.
“Delays in drilling have allowed the ongoing interpretation of comprehensive datasets
within the tenure: this has further refined the primary project area and allowed us to define a selection of regional targets.
“The company remains focused on the strategic development of a portfolio of priority projects, recognising the Frome project will remain a mid-term option, providing us with a comprehensive project pipeline.”
Orpheus saw its share price move down on the news. At 15:44 AEST, shares were trading at 5.1 cents, a fall of 7.27% since the market opened.
