Greenvale Energy Ltd (ASX:GRV, OTC:GVLMF) has defined a large-scale potential uranium paleochannel target extending for around nine kilometres at the Powers Prospect within its Thunderball Uranium Project in the Northern Territory.
Field mapping and sampling have outlined a north-south trending target up to 400 metres wide, confirming an extensive airborne radiometric anomaly previously identified through Greenvale’s regional exploration work.
Ground-based scintillometer and portable XRF measurements returned uranium readings of between 20 and 28 parts per million equivalent uranium (eU), around three to four times the average background reading of 6ppm eU.
Large-scale target takes shape
The correlation between ground radiometrics, airborne data and underlying limestone supports Greenvale's interpretation of potential calcrete-hosted mineralisation at the top of a paleochannel system.
The company has also observed stronger radiometric responses where surface cover has been removed, providing further encouragement for the possibility of uranium mineralisation at depth.
“The discovery of the Powers Prospect is an exciting outcome from genuine greenfield exploration and a credit to what our exploration team have been able to achieve in such a short period of time, particularly given that EL34157 was granted less than six months ago," managing director Alex Cheeseman said.
“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.
“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 permitting and approvals process for maiden drilling at the Powers Prospect has commenced. This is an area that has seen relatively little modern uranium exploration, and we are excited by the potential to make a new uranium discovery in the Northern Territory.”
Thunderball exploration advances
The Powers Prospect sits within EL34157, where Greenvale is pursuing shallow sediment-hosted and paleochannel-style uranium targets.
The geological model is supported by anomalous uranium values from ground and airborne radiometrics, the presence of calcrete in cover sediments and structural features that could provide pathways for uranium-bearing fluids. Samples collected during the program are being processed for independent laboratory analysis.
Greenvale is planning a close-spaced airborne electromagnetic survey in the coming months to better map the paleochannel system, while permitting has begun for an exploratory aircore drilling program.
About Greenvale Energy
Greenvale is building a portfolio focused on clean energy and critical infrastructure.
Its assets include a growing landholding in the Pine Creek region of the Northern Territory, the advanced high-grade Oasis Uranium Project in Queensland and the Alpha Project. The company is also working to finalise the acquisition of the Pine Creek Uranium Project to establish a consolidated district-scale position in the region.