Australian Rare Earths (ASX:AR3) has received approval from the South Australian Government for an exploration program for Environment Protection and Rehabilitation at the southern extension of its Overland Uranium Project.
This is the second EPEPR approved for the project, covering an additional 773km2, enabling the company to expand its inaugural drilling program.
The company has secured drilling services from Wallis Drilling, with a drill rig set to mobilise to the site by mid-October.
Approximately 5,000m of aircore drilling is scheduled for high-priority uranium targets within the exploration licenses 7001 and 7003.
"This additional EPER approval, ahead of schedule, is a most timely and welcome step forward in our exploration efforts at Overland, allowing us to access more of our high-priority targets during our inaugural drill program," said Travis Beinke, Managing Director and CEO of Australian Rare Earths.
"Securing rig access with experienced drilling contractor, Wallis Drilling will enable us to commence drilling in mid-October," Beinke added.
The Overland Uranium Project spans over 3,000km2 and demonstrates the potential for in-situ recovery of sedimentary-hosted uranium deposits, with conditions similar to those of Boss Energy's (ASX:BOE) successful uranium operations.
The company is prioritising its exploration in accessible areas, aiming for quick results in the initial phase.
The company is managing regulatory and land access approvals on a phased basis across the significant project area.
The Overland Uranium Project represents a key opportunity for the company to enhance its energy transition metals portfolio, contributing to the increasing demand for uranium as a clean energy source.
At the time of reporting, Australian Rare Earths’ share price was $0.085.