Greenridge Exploration (TSX-V:GXP) has fulfilled all obligations to earn a 100% interest in the Carpenter Lake Uranium Project in Saskatchewan’s Athabasca basin.
The company entered the option agreement in May 2024 with ALX Resources (TSX-V:AL) and Renegade Gold (TSX-V:RAGE), completing the earn-in requirements through C$200,000 ($202,164) in cash payments, 900,000 share issuances across three tranches, and C$1 million in exploration expenditures for the project.
Carpenter Lake comprises 12 mineral claims covering approximately 18,680 hectares straddling the southern margin of the Athabasca basin.
The project covers over 15km of the Cable Bay Shear Zone, a prominent crustal-scale geological structure trending northeast-southwest.
Greenridge expanded the project in January 2026 by adding three new claims after recognising two historical holes drilled in 1980 were located on open ground near the western boundary.
A gravity survey was likewise conducted in April 2026, with results pending.
Greenridge CEO Russell Starr says the project is located in a ‘highly prospective’ uranium property in “the world’s richest uranium district”.
“Only 12 holes have been drilled within the project area, and of those, only eight holes have been drilled by Greenridge in the modern era of uranium exploration, leaving the project very much underexplored,” Starr says.
Greenridge Exploration is a mineral exploration company focused on the acquisition, exploration, and development of critical mineral projects in Canada.
Write to Paula Fabe at Mining.com.au
Images: Greenridge Exploration
