Uranium search approved
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Uranium drilling has been approved in South Australia to meet global nuclear demand.
Australian Rare Earths Limited (AR3) has secured key government approvals to commence drilling at its Overland Uranium Project in South Australia.
The project, located in the Riverland West region, spans more than 3,000 square kilometres and is set to begin its inaugural drilling program in mid-October 2024.
The project has received two critical Exploration Program for Environment Protection and Rehabilitation (EPEPR) approvals from the South Australian Department of Energy and Mining.
These permits allow AR3 to drill across an additional 773 square kilometres in the southern section of the project area, with a focus on high-priority uranium targets identified in previous exploration licences.
The upcoming drilling campaign will cover approximately 5,000 metres of Aircore drilling.
AR3's Managing Director and CEO, Travis Beinke, described the project as an “exciting, early-stage project”, emphasising that the region has little history of uranium exploration.
“It's a green fields exploration play, which means there's very little information or knowledge around the uranium prospectivity within the area,” he said.
The exploration will target paleochannel sediments, similar to those found in nearby successful uranium operations by Boss Energy.
AR3 has contracted Wallis Drilling Pty Ltd to oversee the drilling, and a rig will be mobilised to the site by mid-October.
Drilling is expected to run through to December 2024, focusing on accessible areas with significant geological potential for uranium recovery.
The Overland Uranium Project’s location north of Morgan in the Riverland is currently used for pastoral activities, predominantly sheep grazing.
The company says efforts will be made to minimise disruptions during the exploration phase.
The timing of AR3's drilling coincides with increasing global demand for uranium, driven by the push for cleaner energy alternatives.
Although Australia has extensive uranium reserves, most of the output is currently exported, with no domestic nuclear energy production.
The Overland Uranium Project is seen as a strategic addition to AR3's portfolio, aligning with its broader focus on energy transition metals, including rare earth elements essential for electric vehicles and wind turbines.
The company says it will continue engaging with stakeholders and investors as it advances exploration efforts into 2025.