Greenvale Energy (ASX:GRV) has confirmed six new uranium targets at its Thunderball Uranium Project in the Northern Territory following a geophysical review and field investigations.
A project-wide geophysical assessment over exploration licences EL34157 and EL33670 identified a large fault structure trending north-west to south-east.
The structure runs parallel to the geological contact between the Pine Creek Orogen and the overlying sedimentary basins. It may represent a graben that could allow uranium-rich fluids to enter overlying sediments from bedrock below the basins.
Field teams ground-truthed the results and confirmed six targets within EL33670, designated DR15, DR16, DR17, DR21, DR23, and DR24. The targets returned anomalous readings up to 17 parts per million (ppm) equivalent uranium (eU) against a natural background of about 4ppm eU.
Managing Director Alex Cheeseman says the work has expanded the company’s target pipeline across the land package.
“Following the results generated by our recent field work programs across our northern tenement, EL34157, this latest geophysical review and field-based follow-up has generated a series of new targets in the southern tenement, EL33670,” Cheeseman notes.
Independent consultants Arrow Geoscience completed the review using merged airborne magnetics, radiometrics, gravity, and electromagnetics data.
Airborne radiometric anomalies on the north-eastern side of the fault show good correlation with magnetic anomalies.
Initial geochemical assays confirmed uranium anomalism in Daly Basin sediments, with peak results up to 51ppm uranium from the Wildcard South prospect.
Results correlated with field readings from RS-125 and portable X-ray fluorescence (XRF) spectrometers.
The company discovered anomalous breccia about 1.1km south-east of the Spectre Prospect in July, with structural data suggesting it may form part of a southern fault splay off the Hayes Creek Fault.
Chemical assays confirmed values up to 21ppm uranium from the first outcrop, and a second outcrop discovered in September returned maximum readings of 9.9ppm eU and 39ppm eU from RS-125 and portable XRF respectively.
The Hayes Creek Fault is associated with ‘high-grade’ uranium mineralisation at the Thunderball deposit.
Greenvale Energy continues field investigation of remaining radiometric anomalies.
Concurrently, the company is progressing permitting for initial drill testing and plans similar work at its Elkedra-Henbury Project.
Write to JC Villarba at Mining.com.au
Images: Greenvale Energy
