Adavale’s low-cost drilling confirms uranium mineralisation at Lake Surprise
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Initial reconnaissance drilling at Adavale Resources’ Lake Surprise project in South Australia has confirmed uranium mineralisation within a complex braided stream environment.
The drilling program was designed to test a prospective zone in EL5893, identified from previous exploration that showed a helium anomaly, surface gamma anomaly and rock chip data.
The program encountered a series of braided channels, confirming the pre-drill interpretation that the area was part of a broad delta-like fan system.
Assay results also produced a peak result of 87ppm uranium, which is not considered to be economic, but is indicative of further potential, particularly towards the south.
The program was completed with 56 holes for 742m drilled at a cost approximately of $70,000.
“The results of this low-cost reconnaissance drilling program have provided significant technical data for Adavale to plan the next program,” Adavale (ASX:ADD) executive director David Riekie said.
“In particular, our technical team will now focus on the geometry of the braided channel system that is becoming evident as the concentration of uranium hosted horizons and improved future targeting methods.
“We will use this knowledge to plan geophysics to better map the target horizons and support future drilling.
“Drilling was cheaper than anticipated and demonstrated the broader paleochannel system is host to targeted uranium mineralised channels.”
The program has confirmed the need to isolate the braided channel geometry to target higher grade mineralised zones.
The company says the next step is geophysics – including magnetics, gravity and resistivity – which have been shown elsewhere in the region to be useful tools for identifying uranium channels and vectoring exploration.
The plan is to target the mineralised braided channels at Lake Surprise as well as the Canegrass, Jubilee and Mookwarinna prospects.
This article was developed in collaboration with Adavale Resources (ASX:ADD), 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.