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Core Energy Minerals Ltd (ASX:CR3) has acquired two highly prospective uranium projects sitting along more than 2,300 square kilometres of land and three tenements in South Australia.
The company has signed two binding staged option agreements to acquire the Cummins Project and the Harris Greenstone Project this week.
Plans will now see Core Energy begin work at the former during 2025’s first quarter.
This will include mapping, confirmatory drilling and geophysical surveys at Cummins, where historic drilling results have demonstrated the presence of widespread palaeochannel hosted uranium mineralisation over approximately 10 kilometres; similar to Alligator Energy’s (ASX:AGE) 17.5Mlbs U3O8 Samphire Project nearby.
Drilling is also planned for the 952-square-kilometre Cummins (once statutory approvals are completed).
The other acquisition, the Harris Greenstone project, stretches across two tenements and 1,350 square kilometres and includes unexplored extensions of the well-defined
palaeochannels hosting nearby 1.48Mlb Warrior Uranium Deposit, with Native Title 9B access agreement already in place enabling fast-tracked on-ground exploration.
Executive director Tony Greenaway said the acquisitions provided plenty of opportunity for future development.
“We are excited to add both of these significant acquisitions in South Australia to Core Energy’s existing portfolio of high-quality, global uranium exploration assets,” he said.
“The Cummins Project in particular provides Core Energy with multiple advanced drill-ready targets, based on historic exploration which shows widespread, shallow palaeochannel hosted uranium mineralisation over distances of greater than 10km.
“As historic exploration was limited to regional 1km spaced drilling, there remains
strong potential for high-grade mineralised zones of significant strike length to be delineated from the significant historic intercepts.”
Core has been trading at 1.8 cents.
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