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Australian Rare Earths Limited ( (AU:AR3) ) has shared an update.
Australian Rare Earths Limited has announced the acquisition of EL6895, a strategic addition to its Overland Uranium Project, for $10,000. This acquisition expands AR3’s project area by 972 square kilometers, enhancing its potential for uranium exploration in South Australia’s Murray Basin. The company identified significant gamma anomalism from surface in historic drilling data, suggesting potential for widespread near-surface calcrete hosted uranium mineralization. The new target area is located 50 kilometers south of AR3’s existing uranium occurrence, and the company plans to resume drilling in late July 2025 to rapidly test this promising new area. This expansion positions AR3 to further explore and potentially capitalize on uranium resources, aligning with its strategic goals in the frontier uranium play.
More about Australian Rare Earths Limited
Australian Rare Earths Limited (ASX: AR3) operates in the mining industry, focusing on the exploration and development of rare earth and uranium projects. The company is primarily engaged in expanding its Overland Uranium Project in South Australia’s Murray Basin, aiming to capitalize on the potential of calcrete hosted uranium mineralization.
Average Trading Volume: 505,056
Technical Sentiment Signal: Sell
Current Market Cap: A$11.45M
For an in-depth examination of AR3 stock, go to TipRanks’ Overview page.