Join our daily newsletter At The Bell to receive exclusive market insights
Lincoln Minerals (ASX:LML) has announced it’s set to kick off fieldwork sampling exploration work at its Yallunda uranium play in SA.
Currently, the company is kicking off an exploration run that will see boots on the ground to get an idea of what environmental assets may exist on-site. Think checking for rare plants and lizards.
Landowner notifications have also been lodged, with both of these preliminary activities ultimately shoring up the company to kick off a maiden “comprehensive” field recon program over the Yallunda prospect.
Notably, it’s located on the Eyre Peninsula, potentially beneficial both because of prospective geology and due to South Australia’s relative pro-uranium policy agenda.
In a familiar trend for junior explorers in the high interest rate environment, the company has relied on geophys and electromag data taken by prior owners to identify Yallunda.
The company says geochem datasets owned by the SA government point to mineralisation across a basket of exploration licences.
The Yallunda prospect was identified in data from previous works involving Lincoln; the ultimate scale of the target in question is 7km.
“Lincoln also used an airborne radiometric survey, carried out in 2011 by Eyre Iron Pty Ltd as part of a Joint Venture agreement with Lincoln, which identified a large 7km long surface uranium anomaly which will be the initial focus of new reconnaissance efforts,” the company wrote on Monday.
“The results of the upcoming exploration program will provide crucial data to guide further exploration and development efforts at the Yallunda Uranium Project. By integrating historic data with modern geophysical and geochemical techniques, Lincoln Minerals aims to unlock the uranium potential of this underexplored region.”
LML last traded at 0.6cps.
Join the discussion: See what HotCopper users are saying about Lincoln Minerals and be part of the conversations that move the markets.
-1200x645-380x200.jpg)
