The projects include 16 granted exploration licences, which covers about 7,746km², situated in the underexplored northern margin of the Gawler Craton.
As part of the deal, Chalice will fund about $5.5m for exploration expenditure, which allows the company to own earnings up to 70%.
The initial stages of the programme includes combined rotary mud and diamond drilling up to 3,000m on the Marla Project, and a survey of ground gravity in the Oodnadatta Project, while first 12 months, UEQ will manage both the projects.
Both the projects are expected to hold significant amount of iron-oxide, copper, gold, uranium (IOCGU) deposits.
Uranium Equities managing director Bryn Jones said, "Uranium Equities is delighted to be working with a group of Chalice’s experience and ability on our South Australian tenement package."
