Uvre executes heritage survey at Frome Downs

Uvre has completed a heritage survey agreement (HSA) with the ATLA across the company’s South Australia portfolio
The HSA marks a significant milestone in relation to land access
Uvre hopes to move forward with exploration activities shortly

Special Report: Uvre’s subsidiary Uranium SA has carried out a heritage survey agreement with the Adnyamathanha Traditional Lands Association (ATLA), allowing the company to begin surveys on priority targets.

Earlier this year Uvre (ASX:UVA) forged a deal and entered into a binding agreement to acquire 100% of the issued capital in Uranium SA, a special purpose vehicle with three uranium prospects across two exploration licences in South Australia’s Frome Basin.

The Frome Basin is host to two of Australia’s three operating uranium mines at Beverley and Honeymoon, with South Australia playing host to nearly a quarter of the world’s uranium resources and major deposits.

UVA’s newly acquired assets are within a highly endowed neighbourhood, only 50km away from Beverley and Honeymoon with neighbours including Heathgate Resources, Rio Tinto Exploration, FMG Resources and Havilah Resources (ASX:HAV).

HSA paves way for surveys

The company fulfilled another significant step towards beginning future exploration programs after executing a heritage survey agreement (HSA) with the Adnyamathanha Traditional Lands Association (ATLA).

The HSA includes all of UVA’s South Australian projects including the Frome Basin and Yankannina projects, embedding a mutually beneficial framework when working with the ATLA.

It also paves the way for the company to begin heritage surveys across the company’s South Australian portfolio.

Kicking off exploration shortly

“The board is very pleased to have worked with ATLA and the Adnyamathanha Traditional Owners to get this Heritage Survey Agreement completed and in place so quickly,” UVA executive chairman Brett Mitchell said.

“It is a positive sign to the intention of the parties to work together on the Frome Downs and Yankannina projects moving forward and commencing exploration activities as soon as possible.”

Uvre’s progress on its exploration plans is well-timed, with sentiment for uranium miners lifting as spot prices rose back above US$80/lb in late September.

Demand from data centres in the US, among other things, has inspired the latest rally after Bill Gates’ Microsoft backed the relaunch of a mothballed unit at the Three Mile Island plant in Pennsylvania as a low emissions power source for its expanding energy needs.

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.