Orpheus Uranium commences Frome Project drilling

·       Orpheus Uranium commenced a drilling programme at its Frome Project in South Australia.

·       The company announced a share placement to raise $4.3 million to fund ongoing exploration activities.

·       The firm aims to use the drilling data to guide future evaluations towards an exploration target and mineral resource estimate.

Orpheus Uranium (ASX:ORP) commenced a drilling campaign at the Frome Project in South Australia comprising up to 35 rotary mud drill holes targeting approximately 5,750m.

The initial phase includes up to eight holes designed to test geological interpretations and refine priorities across a 12-kilometre-long palaeochannel system.

"The commencement of drilling at the Frome Project will be a major step for the Orpheus team," said Orpheus Managing Director Clinton Dubieniecki.

The programme follows a separate announcement regarding a share placement of 47.2 million fully paid ordinary shares priced at $4.3 million.

The company stated that the drilling results will guide future evaluation towards a potential exploration target and JORC-compliant mineral resource estimate.

Following the announcement, the Orpheus Uranium share price was unchanged at $0.010.

The company holds a portfolio of exploration licences targeting sedimentary-hosted uranium across South Australia and the Northern Territory.