Australian Rare Earths Limited ( (AU:AR3) ) has provided an update.
Australian Rare Earths Limited (AR3) has announced the discovery of a shallow uranium occurrence at its Overland project, identified through drill hole OV047. This finding suggests the potential for near-surface, calcrete-hosted uranium mineralization, similar to deposits found in Namibia, alongside their existing targets. The company plans to accelerate its drilling program to further explore this new occurrence and has confirmed the extension of a key palaeovalley, enhancing the project’s prospects. This development is a significant advancement in AR3’s exploration efforts, potentially strengthening its position in the uranium market.
More about Australian Rare Earths Limited
Australian Rare Earths Limited operates in the mining industry, focusing on the exploration and development of rare earth elements and uranium deposits. The company is engaged in identifying and developing mineral resources with a particular emphasis on uranium, which is a key component for nuclear energy production.
YTD Price Performance: -14.00%
Average Trading Volume: 122,206
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$13.67M
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