Australian Rare Earths Limited (ASX:AR3) Completes EL6678 Farm-In
Farm-In Agreement Completion
Australian Rare Earths Limited (ASX:AR3) has satisfied all conditions of its farm-in agreement with Sheer Gold Pty Ltd for tenement EL6678. This completion secures AR3’s ownership of 100% sedimentary-hosted uranium rights over a 990 km² area within the Overland Uranium Project.
Exploration Achievements
Initial drilling at EL6678 has yielded promising results, revealing widespread, near-surface calcrete-hosted uranium mineralisation. The tenement shows potential for both shallow surficial and deeper in-situ recoverable uranium deposits, similar to Namibia’s Langer Heinrich Mine.
Executive Comments
Managing Director and CEO Travis Beinke stated, “The completion of the Sheer Gold farm-in marks a significant milestone, providing AR3 with direct control over 990 km² of highly prospective uranium tenement within the broader Overland Project area. The early results from our initial drilling program over this tenement have been most encouraging, revealing the potential for both near-surface and deeper uranium. This achievement underscores our commitment to strategically expanding our critical minerals portfolio and delivering value to our shareholders as we advance exploration across our district-scale ~4,800 km² Overland Uranium Project.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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