Argonaut secures new uranium asset in S Australia

7th February 2024 By: Creamer Media Reporter

Exploration company Argonaut Resources, which is set to rebrand as Orpheus Uranium, has acquired a promising uranium exploration project in South Australia known as the Woolshed project.

Positioned about 4 km west of Boss Energy’s Honeymoon uranium mine, the site is deemed highly prospective for sedimentary-hosted roll-front and tabular-style uranium mineralisation.

The Northern block contains a large portion of a bend in the Yarramba palaeochannel, while the Southern block contains the headwaters of the Yarramba palaeochannel that lies directly on top of the Mesoproterozoic granites of the Bimbowrie suite.

Argonaut holds a 100% interest in ELA2024/00005 Woolshed project, encompassing the two contiguous blocks for a combined area of 87 km2. The company identified the open ground on the tenure portal of the South Australian government and promptly submitted an application after conducting a review.