Realising the historical exploration of the past and the future of uranium

The numbers have been in for a while, leaving world leaders with the challenge of shifting public sentiment over their inevitable nuclear future.

The war in Ukraine is fueling supply disruptions for energy and related commodities worldwide. The intrusion comes when covid-weary nations are forced to consider the role of nuclear power to avoid future energy poverty. Australia accounts for just under one-third of the world’s most considerable uranium resources.

Kingsland Minerals (ASX: KNG) Managing Director Richard Maddocks hopes their work is advancing exploration at the Cleo uranium project — one of four exploration projects held in the Northern Territory that may contribute to the nation’s commanding position as a dominant supplier of the world’s critical minerals into the future.

Diamond Core Rig setting up for the first hole

The Pine Creek Region has an exciting story of uranium exploration and production. Initial work at Cleo was completed in the early 1980s, which led to the discovery of uranium mineralisation in the area. — unbelievably, it was mainly left unexplored as the company involved went off instead in pursuit of other commodities.

The prospective geology lay on contact between granites and graphitic shales, a well-defined contact bed for uranium. The history and rocks combine to make a compelling case for a thorough investigation, according to Mr Maddocks.

A previous company acquired the land four years ago, which was introduced into the Kingsland float in 2021. Drilling began this year, and the initial exploration results are recognised with the potential and upside of uranium mineralisation.

The initial program consists of approximately four kilometres of reverse circulation drilling and one kilometre of diamond, which they aim to finish later this year.

“We recognised the potential of this ground very early on, and it has been realised through the early drilling stages,” said Mr Maddocks.

“The previous exploration work not only had significant results for uranium but also for copper and early-stage exploration models for graphite mineralisation.”

Copper and graphite are also essential components of any electric-powered energy source. Kingsland Minerals plans to begin programs for both in 2023.

The NT projects are well-placed to access Asian markets, with Pine Creek just 225km south of Darwin.

“The region contains fantastic infrastructure, a history of mining and no ongoing land access issues, which is a fantastic opportunity for future exploration and further development work.”

Kingsland Minerals has been listed on the ASX since June 22, 2022. They are currently trading at $0.19, with a $ 2.8 million enterprise value as cash at the bank on June 30.

“When we look at equivalent companies, our peers in the uranium exploration scene, we see they have significantly higher market capitalisations.

“We believe that with our exploration success, based on our recently released results and the upside and potential of copper and graphite, we will see our share price grow dramatically in the next 12 to 18 months.”

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