Join our daily newsletter At The Bell to receive exclusive market insights
- Adavale Resources (ADD) moves through the approval process ahead of planned drilling at its Lake Surprise uranium project in South Australia
- Following clearance for the scope of the proposed works, ADD dispatched a notice of entry to the Dieri Aboriginal Corporation Board and the pastoral lessee
- With a drilling contractor secured, ADD is now finalising exploration and environmental management procedures to support the proposed 150-hole aircore program
- The goal of the campaign is to develop a robust dataset that can be used to rapidly convert drilling results into a mineral resource
- Adavale Resources shares are up 7.14 per cent to 3 cents each at 10:15 am AEST
Adavale Resources (ADD) is moving through the approval process ahead of planned drilling at its Lake Surprise uranium project in South Australia.
The exploration company has planned an aircore drilling campaign of between 50 and 150 drill holes for August to test shallow paleochannel zones at depths of 30 metres.
The program has been designed on 80-by-180-metre grid spacing, which Adavale said its drilling contractor was able to complete in a “timely and environmentally sensitive manner”.
ADD was granted clearance for the scope of proposed works in May, and the company has since dispatched a notice of entry to both the Dieri Aboriginal Corporation Board and the pastoral lessee.
Adavale said it was now finalising a Radiation Management Plan and a completion of works for Exploration Programs for Environmental Protection and Rehabilitation (PEPR) for approval by the SA Government.
Once all approvals are received, the company expects the drilling program to take around three weeks to complete.
Adavale’s Executive Director, David Riekie, said the company had been working “diligently” and together with the Dieri traditional owners and their consultants to secure the required clearances and exploration and environmental approvals ahead of drilling.
The goal of this work is to develop a robust dataset that can be used to rapidly convert drilling results into a mineral resource.
Adavale plans to log geological, geophysical and geochemical data on-site and said the results would enable its geological team to start interpreting the outcomes and planning its next steps.
While further drilling is anticipated, the company said it was likely to be limited to confirming continuity of results between drill holes, as past surface soil and gamma surveys suggested the current target area had the highest uranium values at surface.
Adavale Resources shares were up 7.14 per cent to 3 cents each at 10:15 am AEST.
