Lincoln Minerals (ASX:LML) is accelerating its uranium exploration plans across its highly prospective tenement portfolio on South Australia’s Eyre Peninsula, with drilling expected to commence at its Jungle Dam uranium prospect in Q3 CY2024, four months ahead of schedule.
Lincoln’s Jungle Dam target, which previously reported intersections up to 570ppm U in scout drilling in 2007/08, has been bolstered by reinterpretation of historic gravity data in combination with open- source and recently released South Australian Government geological data.
Access and interpretation of these new additional data sources has expedited Lincoln’s drill target activities by providing enhanced knowledge of the area’s basement geology and removed the need for further gravity surveys, which Lincoln had planned to undertake in Q3 CY20241.
The enhanced ground gravity imagery aligns with Lincoln’s key exploration drill targets in areas surrounding its historic uranium drill intercepts at Jungle Dam. Lincoln’s drill targets are in an area interpreted to be a paleochannel and are of similar style to Alligator Energy’s Samphire Project, 80km southeast of Lincoln’s targets.
“We have made rapid progress in delineating additional highly prospective uranium exploration targets across our tenements using historic and newly available data which has reinforced the prospectivity of our Eyre Peninsula location,” CEO Jonathon Trewartha said.
“Utilising the newer open-source data and historical geophysics has allowed us to eliminate additional gravity surveys that we had previously planned to undertake.
“This development not only saves Lincoln substantial cost and time, but also significantly accelerates our drilling schedule, which will now commence in September 2024, four months sooner than expected.
“Lincoln is committed to exploring and advancing these high priority targets which it believes will deliver significant value to our shareholders and which it is hoped will confirm the Eyre Peninsula as one of the best address’ for uranium in South Australia.”