Uvre Advances Uranium Exploration at Frome Downs, Eyes First Drilling Campaign

Exploration Momentum Builds at Frome Downs

Uvre Limited (ASX: UVA) has reported significant progress in its uranium exploration activities during the December 2024 quarter, focusing on its Frome Downs Uranium Project in South Australia. The company completed a comprehensive Phase 2 geophysical survey, employing passive seismic and gravity techniques to refine and expand upon priority targets identified in an earlier Phase 1 program.

The Phase 2 program aimed to delineate subsurface palaeochannels and structural disruptions within the uranium-bearing Billeroo paleochannel. These geological features are critical as they can serve as traps for uranium mineralisation, enhancing the prospectivity of the sediment-hosted uranium targets. Notably, a new target area was identified approximately 10 kilometres north of the initial survey zone, where Tertiary sediments overlay a structurally complex basement, potentially indicating further mineralisation opportunities.

Cultural Engagement and Heritage Survey Agreement

In a strategic move to facilitate exploration, Uvre’s subsidiary, Uranium SA Pty Ltd, executed a Heritage Survey Agreement (HSA) with the Adnyamathanha Traditional Lands Association (ATLA). This agreement is pivotal, as ATLA administers Native Title rights and heritage interests for the Adnyamathanha People, the key Traditional Owners of the land encompassing Uvre’s South Australian projects.

The HSA establishes a collaborative framework allowing Uvre to conduct heritage surveys on priority target areas, ensuring exploration activities respect cultural sensitivities and comply with regulatory requirements. This partnership underscores Uvre’s commitment to responsible and respectful engagement with Indigenous communities.

Strategic Positioning in a Uranium-Rich Region

The Frome Downs Project, covering 343 square kilometres, is situated within the uranium-rich Frome Basin, a region hosting several significant uranium deposits and operating mines such as Beverley and Four Mile. Uvre’s tenements lie within close proximity to these established operations, enhancing the geological potential of its exploration targets.

South Australia remains the only Australian state permitting uranium mining and processing, positioning Uvre advantageously within a supportive regulatory environment. The company’s exploration strategy leverages advanced geophysical techniques to identify roll-front type uranium mineralisation within Tertiary sediments, a style consistent with nearby successful deposits.

Financial Position and Next Steps

Uvre closed the quarter with a net cash balance of approximately $2.7 million, providing a solid financial foundation for upcoming exploration activities. The company is preparing to commence its first drilling campaign at Frome Downs, a critical milestone that could validate the promising geophysical targets identified to date.

While results from the Phase 2 geophysical program remain pending, the groundwork laid this quarter, including the heritage agreement and target refinement, positions Uvre well to advance its uranium exploration ambitions. The company also continues to evaluate complementary strategic opportunities to enhance its portfolio of energy transition metals.