Transcript
Hi there.
Thanks for joining me. My name is David Riekie. I’m the Executive Director of Adavale Resources.
We’ve just announced the outcome of a maiden exploration program that’s been focusing on our freshly granted licenses over in South Australia, uranium focused.
We’ve actually been undertaking a number of exploration programs that are run concurrently to give us a very rich outcome of what we’ve now found in this area.
We’ve used a mixture of gravity reprocessed em, soils, and we’ve also used a spectrometer to actually get an idea of if there’s any surface expression of uranium in the system.
Now, I’m very pleased to announce that we’ve had positive results in all of those fields, and all of those facets of that exploration program.
And what we’re now seeing is we’ve delineated that there’s well, a number of pathways showing these paleochannels in the system.
I think we’ve actually found the highway. My technical guys have been talking about a situation where we’ve got a gravity low, a feature that is actually showing a concentration of where, any uranium in the system, will pull.
If you can draw an analogy, I think probably the closest thing I’ve come up to, and it’s very non-technical, but you’re looking about a number of roads. We’ve actually hit a freeway. We’ve hit a freeway with uranium road train, moving along this pathway, dropping off a bridge into a pool that’s actually concentrated this uranium. Again, that’s very non-technical, but we’re finding that there’s an accumulation of uranium in the system that pulls in this particular area.
We call it an embayment.
But then we’ve also referenced it as a depot center and then technical words.
But essentially we’re looking to see the actual profile of this area, is where we’re going to start drilling now to provide us with a lot more confidence and assistance in this regard.
We’ve actually seen surface expression, you know, rock chip samples have actually been demonstrated that there is uranium in the system in this area, but we’re looking for something quite a bit deeper now.
The drilling that will actually have be undertaken to actually delineate what the uranium concentration will be.
But again, you know, it’s been a concentration of this in a particular area that’s always demonstrated that the Flinders Ranges as the heart of this is where the outflow of this material is coming from.
It’s captured in this embayment, like I said, and it’s pooling there. So this is a precursor to drilling.
This ground is actually open to us in the sense that we’ve got a number of tracks that we’ll probably follow, and use that as a pathway to start some drilling happening pretty quickly.
This process is already underway, so we would like to think that we’re gonna get on the ground very shortly.
We’ve got a number of another announcements that are coming up with regards to general activities and how that’s actually progressing.
So please stay with us. I think there’s going be some very important outcomes from this program in the coming weeks.
