Orpheus Minerals Ltd (‘Orpheus’) is a uranium exploration company focussed on South Australia and the Northern Territory, the only two Australian jurisdictions that permit both uranium exploration and the development of new uranium mines, and where there are currently, or recently, operating uranium mines. The Company’s strategy is to target unconformity-style uranium deposits in the Pine Creek Orogen of the Northern Territory and palaeochannel or sandstone hosted uranium in South Australia. The former target type is typically higher-grade uranium suitable for conventional mining techniques while the latter are potentially amenable to in-situ recovery (ISR), both scenarios being more likely to be economic at the prevailing uranium price.
Six project areas have been secured: two in South Australia and four in the Northern Territory, which are considered to possess all the geological attributes for them to be prospective for sandstone-hosted (roll front) style and unconformity-style uranium mineralisation and are proximal to existing uranium mines or previously discovered and documented deposits. Several Orpheus’s project areas are covered by high quality, pre-competitive geophysical surveys which will assist in the development of initial targets for field investigation once access to land for exploration is secured. Orpheus’s initial work will also employ an extensive compilation of historical exploration data to be used in re-evaluating each project area’s potential and identifying targets for field investigation and testing.
Orpheus is well backed by an experienced board and technical advisors who have extensive background in uranium exploration and project definition, skills that will be put to good use in a comprehensive project generation effort focusing on the less-explored corners of South Australia and Northern Territory.
The time for uranium has come: nuclear energy is emerging as the only high-capacity factor, low carbon dioxide, electricity source. These critical attributes will come into focus as the ‘energy transition’ matures in the coming decade and high-carbon dioxide emitting electricity sources such as coal are decommissioned. Orpheus intends to be a company at the forefront of making uranium discoveries for the future.
* 31 March 2023 (AUD)
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