Greenvale Energy (ASX:GRV) has mapped a potential paleochannel uranium target extending about 9km at its Thunderball Uranium Project in the Northern Territory.
The Powers prospect lies within Exploration Licence 34157 and reaches more than 400m wide at its broadest point.
Ground mapping and sampling have confirmed the airborne radiometric anomaly, with handheld scintillometer and portable X-ray fluorescence readings consistently returning 20–28 parts per million (ppm) equivalent uranium (eU).
These readings are three to four times higher than the average natural background reading of 6ppm eU. Samples are being processed for independent laboratory analysis.
Greenvale says the correlation between ground radiometrics and underlying limestone supports its interpretation of potential calcrete-hosted mineralisation at the top of a paleochannel system.
Managing Director Alex Cheeseman says the target has been refined quickly since EL34157 was granted less than six months ago.
“Our systematic approach of using airborne and remote sensing data to generate large-scale targets, followed by on-ground mapping and geo-chemical analysis is proving to be effective, with each step successfully refining targets to a point where we are confident to commit to drill testing,” Cheeseman says.
“At Powers, we have now defined a substantial target extending for approximately 9km, with the geological setting and ground-based radiometric response supporting our interpretation of a potential paleochannel-hosted uranium system.”
The underlying geology is interpreted as Tindall Limestone within the Daly Basin. Greenvale has also mapped structures that it considers potential pathways for uranium-bearing fluids.
The company has begun permitting and approvals work for maiden drilling at Powers. It is planning a close-spaced airborne electromagnetic survey and has started preparations for an exploratory aircore program.
Greenvale says it is also working to finalise its acquisition of the Pine Creek Uranium Project, which would consolidate its landholding in the broader Pine Creek region.
Write to France Pinzon at Mining.com.au
Images: Greenvale Energy
