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Highlights

 

  • Assays reveal uranium grades exceeding 100ppm at Overland project’s first shallow discovery hole.

  • Results validate earlier gamma and in-field pXRF readings, reinforcing confidence in the data.

  • Exploration continues for both calcrete-hosted and ISR-amenable uranium targets across the region.

Australian Rare Earths Ltd (ASX:AR3) has confirmed the presence of significant near-surface uranium mineralisation at its Overland project in South Australia, following chemical assay results from drillhole OV047. The assays highlight shallow, calcrete-hosted uranium zones with grades exceeding 100 parts per million (ppm).

The assay results from OV047 included several key intercepts:

  • Two metres at 92ppm U₃O₈ (triuranium octoxide) from a depth of 26 metres,

    • including one metre at 103ppm U₃O₈ from 27 metres,

  • One metre at 82ppm U₃O₈ from 26 metres, and

  • One metre at 72ppm U₃O₈ from 31 metres.

These findings, confirmed through chemical assaying, follow earlier down-hole gamma responses and portable X-ray fluorescence (pXRF) readings taken from the same hole. According to AR3, the consistency between the in-field data and lab results affirms the accuracy of its exploration methodology.

Commenting on the development, AR3 Managing Director and CEO Travis Beinke said the results mark an encouraging milestone for the project:

“These results from the first hole where the occurrence of shallow calcrete-hosted uranium was discovered underscore the significant potential of the Overland project.”

Beinke noted that the company’s exploration strategy is now twofold—continuing to search for both shallow calcrete-hosted uranium and sedimentary-hosted uranium deposits that are amenable to in-situ recovery (ISR), a cost-effective and environmentally sensitive extraction technique.

Located in a frontier uranium province, the Overland project is shaping up as a potentially large-scale opportunity, particularly with calcrete-hosted uranium systems already known to be productive in parts of Australia and Africa. These types of deposits are typically found near the surface, making them attractive exploration targets due to easier access and potentially lower development costs.

AR3’s recent activity suggests that this initial hole may be part of a wider mineralised system, a possibility the company intends to evaluate through further drilling and geophysical surveys. With Week 14 assay results now supporting the early field data, the explorer is expected to escalate its exploration efforts in the coming months.