Uvre gets its ducks in a row with new uranium targets

Uvre is adding low-cost passive seismic to its uranium exploration toolkit after successful identification of several potential paleochannel targets.

Follow-up geophysical work will better define the potential paleochannel targets. Pic: Getty Images

• Uvre’s passive seismic has identified several potential paleochannel targets for further uranium exploration

• Company now planning follow-up geophysical program at Frome Downs to refine targets

• Maiden uranium drilling expected to start in early 2025

Special Report: Passive seismic survey acquired by Uvre at its Frome Downs uranium project in South Australia has identified several potential paleochannel targets for further exploration.

The targets represent potential palaeochannels and/or fault zones, which can act as entrapment sites for uranium accumulation.

Uvre (ASX:UVA) will use these highly promising results as the basis of a follow-up geophysical campaign including more passive seismic and gravity surveys to better define areas of interest.

The company noted this is the first time low-cost passive seismic surveying (which has little to no environmental impact) has been used on the tenement and the results indicate it can be used to identify subsurface palaeo structures.

“These are extremely promising results which highlight the significant uranium exploration potential at Frome Downs,” UVA executive chairman Brett Mitchell said.

“The Frome Basin is a well-established uranium province. The uranium is hosted in sandstones within palaeochannels and the targets we have just identified through the geophysics clearly have the potential to be repeats of these outstanding deposits.

“In light of these results, we are now planning a second geophysical program with infill seismic and gravity surveys with the aim of refining the targets ahead of our maiden drilling campaign in early 2025.”

South Australia’s Frome Basin is Australia’s only producing pure-play uranium region, hosting both the Beverley and Honeymoon in-situ uranium mines.

Uranium JORC resources in and around the Frome Basin. Pic: UVA

Passive seismic

The passive seismic survey identified two primary targets and six secondary targets, all of which have being recommended for follow-up geophysical work.

These primary and secondary targets represent potential palaeochannels and/or fault zones/structures identified in the Frome airborne electromagnetic survey.

Yellow stars represent primary targets while green stars represent secondary targets at AMAG-TWMI2VD. Pic: UVA

Contractor Southern Geoscience recommends that infill surveys at 100m spacing as well as infill lines between the original survey lines be conducted to better define the potential palaeochannels and/or structural features.

It noted that detailed gravity surveying over the areas of passive seismic could potentially highlight deeper palaeochannel zones where lower density infill is present.

The extra data will allow for better modelling of palaeodrainage features and is designed to identify targets for drill testing in early 2025.

UVA also plans to execute a Native Title Heritage Agreement and inspect historical core/cuttings.

This article was developed in collaboration with Uvre, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Uvre gets its ducks in a row with new uranium targets