Australian Rare Earths (ASX: $AR3) new license application at Triggs Bore

Australian Rare Earths (ASX: $AR3) has submitted a South Australian Exploration License Application (ELA) 2024/00044, covering approximately 250km2 of prospective tenure targeting uranium mineralisation within the Callabonna Sub-basin. The ELA includes the Triggs Bore Prospect, where indications of uranium mineralisation were discovered in 2011 by a previous explorer but remain untested. The company's CEO and Managing Director, Travis Beinke, emphasized the strategic focus on building a robust portfolio of high-quality energy transition assets, positioning the company at the forefront of the industry's future growth.

Executive Commentary

The submission of our Exploration License Application for the Triggs Bore prospect expands our uranium portfolio into the Callabonna Sub-basin. This area shows potential, with historic intersections indicating uranium mineralisation in the Eyre Formation sediments, which also host major nearby deposits such as Four Mile and Honeymoon. The Triggs Bore prospect represents a promising brownfields exploration opportunity, with drill-ready targets poised for immediate follow-up. Upon granting of the license, we are prepared to fast-track our on-ground exploration activities, leveraging our expertise to unlock the value of untapped uranium discovery potential. Our commitment to advancing this project underscores AR3's strategic focus on building a robust portfolio of high-quality energy transition assets, positioning us at the forefront of the industry's future growth.

Summary

Australian Rare Earths (ASX: $AR3) has advanced its uranium exploration by submitting a South Australian Exploration License Application (ELA) 2024/00044, targeting uranium mineralisation within the Callabonna Sub-basin. The Triggs Bore Prospect, part of the application, presents a promising brownfields exploration opportunity with drill-ready targets. The company plans to expedite exploration activities upon the granting of the license, emphasizing its strategic focus on building a robust portfolio of high-quality energy transition assets. This move aligns with the company's ambition to become an independent and sustainable source of energy transition metals, playing a pivotal role in the global transition to a green economy.