Greenvale boosts its uranium footprint in Northern Territory with key acquisition

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.

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