Adavale Resources (ASX:ADD)
Source: Adavale Resources
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  • Adavale Resources (ADD) have commenced exploration work at its Lake Surprise project in South Australia
  • The primary focus for the project is testing a large gamma anomaly which is also coincident with a helium anomaly, allowing the company to provide valuable data for future exploration in the area
  • There are several uranium orebody projects on the eastern side of the Flinders Ranges which are located around 60 km from the Lake Surprise project area
  • Adavale’s uranium geologist, Pat Harvey, says the gamma readings are extremely encouraging
  • Adavale Resources shares are in the grey to trade at 3.7 cents at 10:00 am AEDT

Adavale Resources (ADD) have commenced exploration work at Lake Surprise project in South Australia.

The company’s licences are situated within the Lake Frome embayment containing three granted tenements spanning almost 400 kilometres (km), with a fourth application on the way.

Uranium orebodies already known on the eastern side of the Flinders Ranges include Beverley, Honeymoon, Goulds Dam and Yarramba and the Mt Gee project.

Several of these projects are located in the northern Flinders Ranges around 60 km from the Lake Surprise project area.

The uranium tenements at Lake Surprise have been explored by Adavale since 2006.

It was originally selected based on outcrop sampling and regional radiometric anomalies, many of which remain untested.

The primary focus for Lake Surprise is to test a large gamma anomaly which is also coincident with a helium anomaly, allowing the company to provide valuable data for future exploration in the area.

Adavale Resources uranium geologist, Pat Harvey, says the gamma readings are extremely encouraging.

“During my career to date, I have rarely seen readings such as these taken at Adavale’s Lake Surprise Project recently,” he said.

“Initial radiometric readings to date are extremely encouraging, however the data still needs further analysis and full results will be published in the coming weeks. The outcrop gamma readings and anomalies from the existing geophysical data broadly coincide with the helium highs announced previously, providing outstanding targets for this phase of exploration.”

Adavale Resources shares are in the grey to trade at 3.7 cents at 10:00 am AEDT.

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