Oar Resources has signed a memorandum of understanding with Indústrias Nucleares do Brasil, Brazil's state-owned entity responsible for nuclear materials, including uranium.
The collaboration aims to develop potential uranium feedstocks from Oar Resources' projects in Paraiba, Goiás, and Rio Grande do Sul.
Mineração Remo, a wholly owned subsidiary of Oar Resources, has been exploring an 880km2 area comprising 51 mining licenses.
Initial studies have indicated a high potential for uranium mineralisation within the licenses.
"The signing of this MoU is a transformative milestone providing OAR with the opportunity to be a first mover in the hunt for uranium in Brazil," commented Paul Stephen, CEO of Oar Resources.
The recent agreement follows the expansion of Oar Resources' Brazilian uranium landholding by 283%, from 230km2 to 880km2.
The agreement outlines both parties' intentions to collaborate closely on exploration and potential commercialisation of uranium discoveries.
Exploration activities under the memorandum of understanding will include detailed field mapping, sampling, and the use of a scintillometer to identify uranium anomalies.
Both São José and Amorinopolis projects have been prioritised for immediate exploration.
Oar Resources is an Australia-based exploration and development company focused on building and developing a portfolio of battery and critical minerals assets.
The company's projects include the Oar Graphite Project, Denchi Lithium Project, Douglas Canyon Project, Chimu Gold Project, and Gibraltar Halloysite-Kaolin Project.