Landscape of the Northern Territory
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Greenvale Energy Ltd (ASX:GRV) is taking on a highly prospective play in the Northern Territory, whose mineralisation is anticipated to centre on sandstone-hosted and
unconformity type uranium.

The company has entered a Binding Heads of Agreement with Gempart (NT) Pty Ltd to acquire an initial 80% interest in the Elkedra Uranium Project, comprised of one large Exploration Licence across an area of 566 square kilometres.

Elkedra – located 300 kilometres northeast of Alice Springs – includes an extensive U/TH ratio and a coincident uranium anomaly over an eight kilometre strike length, making it highly prospective for sandstone-hosted and unconformity type uranium mineralisation.

The anomaly is also found immediately south-east of the fertile metamorphosed
halo of the Elkedra granite.

CEO Mark Turner said he was pleased Greenvale had acquired another high-potential uranium asset.

“The Elkedra Project represents another significant addition to our growing Australian energy portfolio, complementing the recently acquired Douglas, Tobermorey, and Henbury Projects,” he said.

“The Elkedra Project has proven prospectivity for large-scale sandstone-hosted uranium
deposits in an attractive geological setting and comes with multiple high-priority exploration targets. Elkedra is also prospective for unconformity type uranium mineralisation.”

Greenvale shares moved up on the news, and by 14:42 AEDT, they were trading at 3.2 cents – a rise of 10.34% since the market opened.

Join the discussion: See what HotCopper users are saying about Greenvale and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

grv by the numbers
More From The Market Online
The Market Online Video

The ASX Today: Market wavers even as US-Iran talks progress; WiseTech plunges on White investigation

The ASX 200 traded flat as US-Iran peace talks progressed and oil reversed early gains. WiseTech…

Lindian Resources on target for first rare earth production at Kangankunde

Lindian Resources remains on target for first production in Q4 2026 at its Kangankunde rare earths…

Inghams shares sink after bird flu detection prompts biosecurity crackdown

Inghams shares dropped after Australia's first mainland H5N1 bird flu detection prompted a lockdown of its…

Godolphin uncovers major new sulphide discovery at Lewis Ponds

Godolphin Resources has intersected multiple broad sulphide zones, highlighting significant resource growth potential.