Exploration/Development, News, Uranium

Chasing a uranium discovery in South Australia

uranium, south australia, lincoln, discovery

Lincoln Minerals has its eye on several targets at what it calls one of the best geological addresses for uranium in the world.

Graphite explorer Lincoln Minerals is ramping up its uranium exploration efforts as the price of yellowcake skyrockets.

Scout drilling on the Eyre Peninsula in South Australia yielded the following results:

  • Jungle dam prospect returned up to 570 parts per million (ppm) uranium.
  • Carinya prospect returned up to 350 ppm uranium within historic drill hole KA 4.
  • Field mapping at Carinya and White Flat revealed up to 1088 ppm uranium southwest of KA 4.
  • Airborne radiometric data at Carinya and White Flat revealed over 100 ppm europium across a significant area of Lincoln’s southern tenements.

This scout program has helped Lincoln identify several high priority targets across four regions of its existing portfolio. The company is planning a comprehensive uranium exploration program in South Australia this year.

“Since joining Lincoln in late 2023, it has been a priority of mine to … undertake a review of our uranium prospectivity, given our tenement areas are in one of the best geological addresses for uranium in the world,” Lincoln chief executive officer Jonathon Trewartha said.

“This initial effort has already uncovered uranium potential on several of our tenements, based on extensive previous exploration activities.

“Against the backdrop of soaring uranium prices, this review has reinvigorated our plans for dedicated uranium exploration, which have been on hold since the uranium market downturn over a decade ago.”

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