Australian mineral exploration company Eclipse Metals Limited (ASX:EPM) has announced the granting of exploration licence, EL27584 at Devil’s Elbow U-Au-Pd project in the Northern Territory. The granting of exploration licence to the Company’s wholly owned subsidiary North Minerals Pty Ltd significantly enhances the project value.
The Devil’s Elbow project is located in the neighbourhood of existing large-scale uranium mines and projects including Rio Tinto’s Ranger Uranium mine and the Jabiluka Uranium-Gold mine. Planning and scheduling for ground exploration activities has already advanced and will commence when practically possible, contingent to in-place travel restrictions. Exploration program will focus on the ground around the Devil’s Elbow, Terrace and Ferricrete uranium prospects.
On 4 June 2020 (AEST 01:59 PM), EPM stock was inching upward by 12.5% to $ 0.009.