Join our daily newsletter At The Bell to receive exclusive market insights
Greenvale Energy Ltd (ASX:GRV) is preparing a program of ground exploration work to follow up multiple uranium anomalies found at 2 of its projects in the Northern Territory through magnetics/radiometrics work.
The latter work – whose results have now been modelled extensively – has highlighted anomalies at the Jindare and Henbury projects, with this to be followed up by field mapping and sampling set for commencement later in 2025.
More specifically, the interpretation of results at Jindare showed 5 zones of discrete equivalent uranium (eU) anomalies which are notably higher than the project’s background rocks, requiring ground follow-up and sampling.
At Henbury, 10 uranium anomalies have been highlighted, with these being generally coincident with outcrop, suggesting the necessity of ground follow-up and sampling. Of particular interest is a 10km long arcuate eU response which is thought to be within ferricrete overlying Mereenie Sandstone.
Greenvale continues to invest in this pattern of exploration, progressing in-fill airborne magnetics/radiometrics at another uranium project in the Territory – Elkedra – with this entailing 3,525-line kilometres, while another NT project, Douglas River, is also the subject of magnetics/radiometrics conducted by MagSpec.
The company is also looking ahead to its launch of a field program at the Oasis uranium project in Queensland, which will begin in early June.
Greenvale shares have shifted up since the news, and at 11:11 AEST, they were trading at 4.9 cents – a rise of 2.08% 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.
-1200x645-380x200.jpg)
