Resources Top 5: DeSoto sets pace with REE acquisition; OAR cuts through with Brazilian uranium expansion- Stockhead

Oar Resources (ASX:OAR)

Oar, a uranium and critical minerals explorer and aspiring producer, has announced the expansion of its Brazilian assets by the pegging of an additional 650km2 of prospective ground in the states of Rio Grande Do Sul and Goiás.

This is an increase of 283% and brings the total Brazilian landholding to 880km2. The acquired tenements are considered prospective for sandstone and sedimentary hosted uranium mineralisation.

Both projects are located within 10km of historic uranium occurrences identified by the Industrias Nucleares do Brasil (INB), which is a Brazilian state-run company engaged in the prospection, exploration and extraction of uranium and other heavy metals.

OAR notes it’s working closely with the INB to ensure that all regulations pertaining to the exploration of uranium are being followed.

OAR Resources CEO Paul Stephen noted in a prepared statement:

“The acquisition of these two highly prospective tenements in the Rio Grande Do Sul and Goiás states of Brazil support our strategic objective of developing a diversified project portfolio for a decarbonised future.

“The additional Amorinopolis and Grande Project tenements are well located within 10 kilometres of historic uranium occurrences identified by INB and we are working closely with INB to ensure we can rapidly develop these projects over time.”

What happens next? Field work, with drill target identification the aim for June.


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