GOLDSEARCH shares have risen after the company announced it will review the uranium potential at its Elaine prospect in Queensland.
The development comes after the Queensland government overturned a state-wide ban on uranium mining earlier in the week.
The exploration company said the Elaine prospect contains a previously released one-metre intercept of uranium oxide and total rare-earth oxides.
"Uraninite confirmed as host mineral similar to neighbouring Mary Kathleen uranium deposit that was mined until 1982," the company said.
"A review of all historic uranium-assay results to date is underway."
Goldsearch is focused on gold, base metals, uranium and nickel in Australia.
At 1227 AEDT Goldsearch shares were 0.1 cents, or eight per cent, higher at 1.3 cents.
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