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- Argonaut Resources (ARE) is proposing to debut an ASX-listed company to host its recently acquired uranium prospects in South Australia and the Northern Territory
- Orpheus Minerals is set to list on the ASX “later this year” according to Argonaut, with plans said to be well underway
- The projects are 100 per cent held or secured via an option to acquire
- Argonaut says the projects were chosen following a “systematic review” of uranium deposit styles and available projects over the past two years
- Argonaut Resources shares were up 6.67 per cent at 12:28 pm AEST to trade at 0.8 cents
Argonaut Resources (ARE) is proposing to debut an ASX-listed company to host its recently acquired uranium prospects across South Australia and the Northern Territory.
The minerals explorer said initial public offering plans to introduce Orpheus Minerals to the Australian exchange later this year were well underway.
The uranium projects are currently 100 per cent held or secured via an option to acquire via Argonaut’s unlisted public company, Orpheus Minerals.
The company’s South Australian projects include four approved uranium mines, namely Olympic Dam, Beverley, Four Mile and Honeymoon.
The remaining tenements are the advanced exploration Frome Project and the Cummins Project, where the company has identified multiple potential drill targets.
Northern Territory tenements include the drill-ready Mount Douglas project, the Ranger and Ranger North-East tenements and the T-Bone tenement.
Argonaut said three of the five projects were on open ground and obtained via application, while the Mount Douglas project was purchased for $200,000.
According to Argonaut, the projects were chosen following a “systematic review” of uranium deposit styles and available projects over the past two years, with focus on South Australia and the Northern Territory.
Argonaut Resources shares were up 6.67 per cent at 12:28 pm AEST to trade at 0.8 cents.
