Greenvale Energy (ASX:GRV) has expanded its Douglas River Uranium Project in the Northern Territory, after adding two new exploration licence applications increasing the landholding to 1,216km2 in the Pine Creek region.
Greenvale Energy, which has a market capitalisation of $25 million, is currently preparing to begin exploration programs across its Northern Territory portfolio, with an immediate focus on the Elkedra and Henbury uranium projects.
The company is considering conducting initial works on the expanded Douglas River project area. Greenvale says it anticipates it will be able to undertake reconnaissance and site access investigations in the coming months and will begin engaging with landholders and traditional owners to allow follow-up fieldwork.
CEO Alex Cheeseman says this is a low-cost addition that almost doubles the exploration footprint.
“The potential of this district to host high-grade uranium deposits was recently reinforced by the outstanding intercepts reported recently by Patronus Resources (ASX:PTN) from a re-assay program at the Thunderball uranium deposit, immediately to the north of Douglas River,” Cheeseman says.
“With drilling currently underway at our Oasis Uranium Project in Queensland and multiple fieldwork programs being prepared for our portfolio of Northern Territory projects, momentum is building across our Australian uranium portfolio.”
The Douglas River Project, located in the north-eastern part of the Daly Basin, has a geological setting that indicates the potential for shallow, sandstone-hosted and unconformity type uranium deposits.
Greenvale Energy is a mineral explorer focused on its uranium asset portfolio in the Northern Territory and Queensland.
Write to Aaliyah Rogan at Mining.com.au
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