Join our daily newsletter At The Bell to receive exclusive market insights
- Adavale Resources (ADD) commences drilling at its wholly-owned Lake Surprise uranium project in South Australia
- The 4500-metre aircore drilling program will test shallow uranium targets at average depths of 30 metres
- ADD will use a truck-mounted aircore rig to enable a “cost-effective” program with a low environmental footprint
- Drilling will last three weeks, with lab results expected during March 2023
- ADD shares are trading at 2 cents at 12:51 pm AEDT
Adavale Resources (ADD) has started drilling at its wholly-owned Lake Surprise uranium project in South Australia.
The 4500-metre aircore drill program will test shallow uranium targets at average depths of 30 metres.
The program will include 150 drill holes over 1.5 kilometres, marked during field surveys in July of last year.
Adavale’s tenements are considered prospective for uranium hosted within a silcrete-capped palaeochannel, and they lie nearby to the Flinders Ranges in South Australia.
The company confirmed the drilling program would use a truck-mounted aircore rig, enabling a “cost-effective” program with a low environmental footprint.
Adavale said drill samples would be geologically logged, and the company’s field team would also record and log gamma readings and portable x-ray fluorescence (XRF) results before sending the samples off for analysis in Adelaide.
Adavale Executive Director David Riekie said the results of the program would be returned in March.
“Whilst we will obtain real-time information from the gamma logs and XRF readings, we will only really understand the full implications of the program when the assay results are returned in March,” Mr Riekie said.
The drilling program at Lake Surprise is expected to last three weeks.
ADD shares were last trading at 2 cents at 12:51 pm AEDT.
