Core Energy Minerals (ASX:CR3) has entered into staged option agreements to acquire up to 100% interest in two uranium projects in South Australia: the Cummins Project and Harris Greenstone Project, spanning a total area of over 2,300km2.
The Cummins Project, covering 952km2 on the southern Eyre Peninsula, has shown widespread uranium mineralisation, including historic gamma intercepts over more than 10km.
Exploration plans for 2025 include mapping, drilling, and geophysical surveys aimed at validating these historic results.
The Harris Greenstone Project, spanning 1,350km2, is located near the Warrior Uranium Deposit.
The project features unexplored paleochannels and a geophysical dataset indicating high uranium prospectivity.
Core Energy holds Native Title access agreements for both projects, expediting exploration timelines.
Both projects are situated in South Australia's Tier 1 uranium jurisdiction, which hosts world-class mines like Olympic Dam and Honeymoon.
Core Energy Executive Director Tony Greenaway expressed excitement about adding these projects to their portfolio, with a focus on advancing high-quality uranium exploration assets.
The company aims to drill test the Cummins Project by mid-2025 and is poised to begin exploration at the Harris Greenstone Project shortly thereafter.
The staged acquisition process includes due diligence, exploration activities, and regulatory approvals, with a focus on advancing the uranium opportunities in the coming months.