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October 02, 2024
Orpheus Uranium Limited (ASX: ORP) (Orpheus or the Company) is pleased to announce that on-ground exploration activities have commenced within the Company’s Mt Douglas Project in the Northern Territory (see Figure 1 & Figure 2).
Highlights
- Geological reconnaissance and sampling have commenced at Mount Douglas (NT) targeting unconformity-style uranium mineralisation similar to other uranium deposits in the Pine Creek Orogen.
- Initial focus on airborne and surface radiometric anomalies coincident with structures.
- Localised gravity survey to be completed in collaboration with the NTGS/Geoscience Australia’s regional gravity survey planned for commencement in 2024.
- Approval received from the Northern Territory Government for a Mining Management Plan (MMP) allowing Orpheus to undertake advance-stage exploration activities at Mt Douglas.
The exploration program will “ground truth” extensive anomalies within the project defined from historical airborne and surface radiometric surveys (see Figure 3). The program will include geological mapping and systematic rock chip sampling to identify zones of potential primary uranium mineralisation.
To date, observed outcropping minerology confirms uranium occurs in primary ore minerals that are mobilised (see Figure 4). As such, uranium mineralisation appears to be structurally controlled similar to unconformity style deposits, including those found in the nearby Rum Jungle Uranium Field, the site of Australia’s first large-scale uranium mine. This will provide targets for immediate drill testing.
Complementing on-ground field activities, Orpheus has collaborated with the Northern Territory Geological Survey (NTGS) to undertake a locally (500m) spaced helicopter-supported ground gravity survey over the project area. The survey will be run simultaneously with the regionally spaced Pine Creek ground gravity survey being conducted by the NTGS and targeted for completion by the end of the calendar year.
Results of the gravity survey will be combined with historic magnetic and radiometric datasets to refine target areas of interest. The primary output of this work will assist in identifying locally derived alteration zones that are associated with regional structures with potential to control uranium deposit formation.
The results of these preliminary programs will continue to develop an understanding of the geological setting of the project area. This will ultimately guide advanced-stage activities including trenching and/or drilling for which Orpheus’ has recently received government approval to undertake within nominated areas associated with these preliminary activities.
Commenting on the exploration program, Orpheus Chief Executive Officer Clint Dubieniecki commented:
“We are excited to commence on-ground activities within the Mt Douglas project. The project was acquired by Orpheus on the basis that the geology and historical radiometric data shows all the hallmarks of a large and high-grade unconformity-style uranium district, similar to the Rum Jungle (Pine Creek) or Ranger (Alligator Rivers) deposits. This work represents an important first step in delineating key structures and defining surface uranium mineralisation that will be prioritsed for drilling.”
Figure 1: Location map of uranium assets owned by Orpheus located in South Australia and Northern Territory (not to scale).
Figure 2: Mount Douglas Project
Click here for the full ASX Release
This article includes content from Orpheus Uranium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
05 June
Argentina’s Strategic Advantage as a New Frontier for Uranium Exploration
Argentina is emerging as one of the most compelling new frontiers for uranium supply, with the country’s National Atomic Energy Commission estimating about 80,000 tonnes of uranium as "exploration targets" across various geological environments. It offers a unique combination of geological potential, government support and existing nuclear infrastructure — all within a jurisdiction that is eager to expand its domestic resource base.
Global demand for uranium has increased in recent years, bolstered by renewed investment in nuclear energy and efforts to secure supply chains. Argentina’s pro-nuclear-energy stance and local technical expertise offer a promising new alternative for uranium exploration, as global demand for this critical mineral continues to soar.
A reawakening global uranium market
The nuclear sector is regaining traction after a decade-long lull following the Fukushima disaster. Governments are increasingly recognizing nuclear energy as a reliable, low-carbon power source essential for meeting net-zero goals. This has led to a global buildout of nuclear capacity: according to the World Nuclear Association, more than 440 reactors are operational today, with dozens more expected to come online over the next two decades.
Compounding this growth is a push for energy independence. The geopolitical fallout from the Russia-Ukraine conflict and rising tensions with China have led to a re-evaluation of critical mineral supply chains. Uranium, once sourced heavily from Russian and Kazakhstan operations, is now being sought from more stable, western-aligned jurisdictions. This is fueling investor interest in underexplored regions that offer both geological promise and geopolitical stability.
Argentina’s uranium opportunity
Unlike traditional uranium-producing nations, Argentina has provincial jurisdictions that offer a unique combination of geological potential, government support and existing nuclear infrastructure — all within a federal jurisdiction eager to expand its domestic resource base.
Argentina is one of the few countries in the Global South with an established civilian nuclear program. Although there is currently no domestic uranium production, the country operates three nuclear power plants which supply about 5 percent of the country’s electricity. The country is also developing new reactors, including the CAREM small modular reactor project, the first of its kind in Latin America. As energy security and decarbonization gain urgency, Argentina’s government has reaffirmed its commitment to expanding nuclear power as a reliable baseload energy source.
To meet this growing demand, Argentina has made domestic uranium production a strategic priority. Historically reliant on imports, the country is now encouraging exploration and development to secure its own supply. This is creating fertile ground for uranium juniors who can help the country achieve nuclear independence.
Argentina’s uranium geology shares many similarities with prolific producing regions globally. In particular, the Neuquén Basin, a large sedimentary basin in Central-Western Argentina, hosts uranium mineralization styles similar to those found in Kazakhstan’s vast deposits. Surficial and sandstone-hosted uranium mineralization in this region offers shallow, low-grade, high-tonnage potential, which is ideal for low-cost, environmentally friendly extraction methods like in-situ recovery and open-pit mining followed by leaching.
Argentina's uranium-rich basins, such as those in Rio Negro, Chubut and Salta provinces, remain largely underexplored, giving early movers a significant first-mover advantage in identifying new discoveries and developing scalable projects.
Investment considerations
From an investment perspective, Argentina is rapidly becoming more competitive.
While some provinces still maintain a moratorium on uranium mining, others like Rio Negro Province, home to Blue Sky Uranium's (TSXV:BSK,OTCQB:BKUCF) Amarillo Grande project, have explicitly opened the door to uranium development, aligning with national goals to boost self sufficiency.
The key to long-term value for investors evaluating junior uranium companies lies in a combination of jurisdictional quality, project scalability and strategic alignment with national energy priorities.
A strong uranium junior benefits from operating in a stable, mining-friendly jurisdiction with clear regulatory frameworks, established infrastructure and political support for resource development. These conditions not only reduce permitting risk but also help streamline project advancement from exploration to production.
Equally important is the nature of the deposit. Shallow, near-surface mineralization is often easier and more cost-effective to develop. Juniors with deposits of this kind are more likely to attract interest from strategic partners or acquirers due to their lower capital intensity and faster development timelines. Investors should also consider whether the company has a district-scale land position, as this can significantly enhance the upside potential beyond a single discovery.
Finally, a company’s alignment with national or regional energy strategies can be a powerful advantage. Governments seeking to secure domestic uranium supply, particularly in countries expanding their nuclear energy capacity, are more likely to support companies that help fulfill those objectives. Juniors operating in such environments may benefit from faster permitting, stronger stakeholder engagement and even direct institutional interest.
Blue Sky Uranium: Unlocking a uranium district in Argentina
Vancouver-based Blue Sky Uranium is not just exploring for uranium in Argentina; it’s pioneering the advancement of what could become a new, world-class uranium district in the southern hemisphere.
The company’s flagship Amarillo Grande project is the most advanced uranium exploration initiative in Argentina and one of the most significant in South America. The project spans more than 145 kilometers of continuous prospective trend in the Neuquén Basin. It comprises three main properties — Ivana, Anit and Santa Barbara — all of which demonstrate significant uranium potential and remain underexplored relative to their scale.
The Ivana deposit alone hosts an indicated mineral resource of 19.7 million metric tons of uranium at a grade of 333 parts per million (ppm) with 105 ppm vanadium, and an inferred resource of 5.6 million metric tons of uranium at a grade of 262 ppm with 109 ppm vanadium. It boasts a robust preliminary economic assessment (as of February 2024) that outlines a base-case pre-tax net present value (8 percent) of US$227.7 million, along with an internal rate of return of 38.9 percent at a uranium price of US$75 per pound of U3O8.
Blue Sky is now focused on advancing the Ivana deposit through a joint venture with Abatare Spain (COAM), taking the project from exploration through feasibility and potentially into production.
Under the terms of the earn-in agreement, COAM will fund up to US$35 million to earn a 49.9 percent equity interest in the joint venture company, Ivana Minerales, and can earn up to 80 percent ownership by completing a feasibility study and contributing up to US$160 million to develop and construct the project.
This level of financial backing and technical commitment is rare among junior uranium developers and significantly de-risks the project. COAM’s parent, Corporación América, operates across energy, transportation, infrastructure and technology sectors, and brings deep local knowledge and government connectivity.
As part of the Grosso Group with a long-standing presence in Argentina, Blue Sky has the advantage in navigating regulatory and social environments. Combined with the technical and financial support of its joint venture partner, the company is uniquely positioned to help unlock Argentina’s uranium potential at a time when global supply diversification is more critical than ever.
Key takeaways
Amid an accelerating global push for cleaner energy and secure supply chains, Argentina offers a unique opportunity for investors seeking exposure to the uranium renaissance. Its established nuclear energy infrastructure, prospective geology and government-backed development roadmap make it a jurisdiction to watch.
For investors looking to navigate the shifting dynamics of the uranium market, Argentina represents a jurisdiction worth serious consideration. Companies with shallow, scalable projects in mining-friendly provinces, and that align with national energy priorities are likely to have a strategic advantage as the global supply chain continues to evolve.
This INNspired article is sponsored by Blue Sky Uranium (TSXV:BSK,OTCQB:BKUCF). This INNspired article provides information which was sourced by the Investing News Network (INN) and approved by Blue Sky Uraniumin order to help investors learn more about the company. Blue Sky Uranium is a client of INN. The company’s campaign fees pay for INN to create and update this INNspired article.
This INNspired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Blue Sky Uranium and seek advice from a qualified investment advisor.
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05 June
Justin Huhn: Uranium Game On — Supply "Mirage," De-risked Demand, Next Price Move
Justin Huhn, editor and founder of Uranium Insider, talks uranium supply, demand and prices.
He emphasized that it's still "very early" in the cycle and that at this point no further catalysts are needed.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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04 June
High Gold Price Sparks Renewed Interest in Queensland Gold Region, Report Says
AuKing Mining (ASX:AKN) has been cited in a news report as among two Australian companies well-placed to take advantage of rising gold prices and the re-emergence of historic gold mines in Queensland.
An article from ABC Australia noted record-high global gold prices are revitalizing the gold mining industry in outback Queensland, particularly in the Cloncurry region. Once a bustling mining area, Cloncurry experienced a decline in the 1990s due to falling gold prices. However, the current surge has prompted renewed interest in both exploration and the reopening of historical mines.
In particular, the Ernest Henry Copper-Gold Mine, a significant site in the region, is estimated to contain 2 million ounces of gold. The Cloncurry Gold Project, encompassing multiple mines over 400 square kilometers, is also poised to benefit from the current boom.
“Orion Resources and AuKing Mining Limited plan to re-lease 20 historic gold mines in the region, bringing them back to life under the banner of the Cloncurry Gold Project,” the article stated.
AuKing Mining’s managing director Paul Williams told ABC Australia the “great gold price environment” and access to significant data from previous work done in the area create an advantageous position for both Orion and AuKing capitalize on the current trend.
Read the full article here.Keep reading...Show less
03 June
Blue Sky Uranium Forges Ahead with Ivana Project Through Strategic COAM Joint Venture
Blue Sky Uranium (TSXV:BSK,OTCQB:BSURF,FWB:MAL2) is making significant strides in advancing its flagship Ivana uranium-vanadium project in Argentina. In a recent interview, President and CEO Nikolaos Cacos detailed the company's newly formed joint venture with Abatare Spain (COAM), a strategic partnership poised to accelerate the project toward production.
Cacos highlighted the establishment of a new joint venture company, Ivana Minerales, formed with COAM to drive the Ivana deposit forward. This collaboration represents a pivotal moment for Blue Sky, as COAM is committed to funding cumulative expenditures of US$35 million to acquire a 49.9 percent indirect equity interest in the deposit. Furthermore, COAM holds the option to increase its stake to 80 percent by completing a feasibility study and fully funding the project's costs.
“As far as our long-term objectives go, it achieves the first long-term objective of creating a pathway to take it right through to production, and allows us now to begin to look at and focus on our other 100 percent owned projects that we have … coming up with a second uranium discovery,” Cacos explained.
The Blue Sky chief executive also touched upon the broader economic landscape in Argentina, noting the positive impact of new government policies aimed at attracting foreign investment and fostering economic growth.
“Argentina is becoming a very favorable business destination,” he said. “And by virtue of the fact that we're already there — we already are known to the government, we're known in the industry — it gives us a leg up in knowing how to operate there.”
Watch the full interview with Nicolaos Cacos, president and CEO of Blue Sky Uranium, above.
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03 June
US Admin Fast Tracks Laramide Uranium Projects, Meta Pens Nuclear Power Deal
Laramide Resources' (TSX:LAM,ASX:LAM,OTCQX:LMRXF) Crownpoint-Churchrock and La Jara Mesa uranium projects in New Mexico have received covered project status under the federal FAST-41 permitting initiative.
Enacted in 2015, the FAST-41 designation is intended to streamline the environmental review and permitting processes for infrastructure projects considered important to national interests.
Since taking office, President Donald Trump has issued several executive orders and initiated a Section 232 investigation into energy security as part of a broader focus on accelerating domestic energy and critical minerals development.
Laramide's Crownpoint-Churchrock project, located in McKinley County, is comprised of two uranium deposits that are amenable to in-situ recovery and holds a US Nuclear Regulatory Commission license.
According to a 2023 technical report, the project holds a 50.8 million pound U3O8 inferred resource.
The La Jara Mesa project, situated in the Grants Mineral Belt of Cibola County, is a sandstone-hosted uranium deposit currently working through the uranium production permitting process.
The Laramide news comes after the US Department of the Interior expedited the environmental assessment for Anfield Energy’s (TSXV:AEC,OTCQB:ANLDF) Velvet-Wood uranium project in Utah last month. According to reports, the review was completed in 14 days — a timeline significantly shorter than the standard review process.
Shares of Laramide are up 4.69 percent on the TSX since the Monday (June 2) news, trading for C$0.67.
Nuclear deals fuel market optimism
The uranium sector has seen a broad wave of positivity since Trump signed several executive orders geared at supporting the country's nuclear industry, with players across the value chain benefiting.
Tuesday (June 3) brought another boost for the sector, with energy provider Constellation Energy (NASDAQ:CEG) announcing a major deal. In a significant development for the US nuclear energy sector, Constellation and Meta Platforms (NASDAQ:META) have entered into a 20 year agreement through which Mark Zuckerberg's Meta will purchase power from the Clinton Clean Energy Center in Illinois, starting in June 2027.
The deal is part of a wider initiative by Meta to meet its growing energy needs, in particular the energy required for its artificial intelligence and data center operations. The agreement will ensure the continued operation of the Clinton nuclear facility beyond the expiration of Illinois' zero-emission credit program.
Clinton's output will increase by 30 megawatts via the deal.
This partnership highlights the ongoing trend of tech companies investing in nuclear energy to meet escalating power demand and aligns with federal initiatives to bolster domestic nuclear capacity.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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03 June
China's Breakthrough in Uranium Seawater Extraction Boosts Efficiency by 40 Times
Chinese researchers have unveiled a method of extracting uranium from seawater at a fraction of the previous cost and energy use, positioning the country to potentially secure long-term domestic supply.
Scientists from Hunan University have developed an advanced electrochemical system that can extract uranium from seawater more efficiently and economically than any method currently in use.
The innovation, led by Professor Shuangyin Wang and his team, features a novel dual-electrode design using copper at both the positive and negative terminals, allowing uranium ions to be collected simultaneously at both ends.
The system achieved a 100 percent extraction rate from a synthetic seawater solution within 40 minutes — a remarkable leap from earlier physical adsorption methods, which typically extract less than 10 percent.
When tested with natural seawater, the device extracted all uranium from East China Sea samples and up to 85 percent from South China Sea water, reaching 100 percent in the latter case with larger electrodes.
It accomplished these results while consuming over 1,000 times less energy than existing electrochemical systems. The total cost was estimated at US$83 per kilogram of uranium — half the cost of physical adsorption (US$205 per kilogram) and nearly one-fourth that of previous electrochemical approaches (US$360 per kilogram).
The implications for China’s energy security could be substantial.
According to the International Energy Agency, China is building more nuclear power plants than any other country, and is expected to surpass the US and EU in installed nuclear capacity by 2030.
However, much of the uranium needed to fuel this growth is imported. In 2024, China imported 13,000 metric tons of uranium, compared to just 1,700 tonnes mined domestically.
Given the estimated 4.5 billion metric tons of uranium dissolved in the world’s oceans — over 1,000 times the amount in terrestrial reserves — seawater extraction has long been seen as a tantalizing, but technologically elusive solution.
Japan led early efforts in the 1980s and 1990s, extracting 1 kilogram of uranium using large-scale marine trials, a milestone that China is now poised to eclipse. The new electrochemical technique builds on recent momentum in China’s marine uranium research. In March of this year, scientists from Lanzhou University’s Frontiers Science Center for Rare Isotopes published a separate study detailing a breakthrough in uranium-vanadium separation, a major technical challenge due to the similar chemical properties of the two elements in seawater.
The Lanzhou team engineered a metal-organic framework (MOF) material embedded with diphenylethylene molecules that can change pore sizes under ultraviolet light.
This enabled the MOF to selectively attract uranium ions over vanadium, increasing uranium adsorption capacity to 588 milligrams per gram, and improving uranium-vanadium separation efficiency by 40-fold.
Their uranium selectivity factor reached 215 — the highest ever reported in natural seawater.
Both research efforts support China’s national nuclear strategy. In 2019, China National Nuclear partnered with 14 domestic research institutions to establish the Seawater Uranium Extraction Technology Innovation Alliance.
This government-backed initiative set ambitious milestones: match Japan’s kilogram-level extraction record by 2025, build a metric ton-scale demonstration plant by 2035 and reach continuous industrial production by 2050.
The alliance's work is driven by projections from the International Atomic Energy Agency, which forecasts that China’s uranium demand will exceed 40,000 metric tons annually by 2040. Marine extraction, if scaled successfully, could ease long-term supply pressures and reduce geopolitical risk tied to uranium imports.
Of course, despite promising lab results, transitioning to industrial-scale extraction poses engineering and economic hurdles. For example, scaling up the Hunan system would involve increasing the number and size of electrochemical cells and managing flow rates across larger volumes of seawater.
If successful, the innovation could revolutionize the global uranium market. By tapping into the ocean’s near-limitless uranium reserves, China could not only meet its own needs, but also shift the geopolitical dynamics of nuclear energy.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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