Greenvale Secures High-Grade Oasis Uranium Project, Eyes 2025 Resource Upgrade

Strategic Acquisition of Oasis Uranium Project

Greenvale Energy Limited (ASX: GRV) has announced the acquisition of a 100% interest in the Oasis Uranium Project, located approximately 50 kilometres west of Greenvale in Far North Queensland. The project, held under Exploration Permit for Minerals (EPM) 27565, covers a substantial 90 square kilometres of highly prospective ground along the Lynd Mylonite Zone, a major crustal terrane boundary known for structurally controlled uranium mineralisation.

The acquisition from Maverick Exploration Pty Ltd, Remlain Pty Ltd, and Mineral Intelligence Pty Ltd was completed for $200,000 in cash and the issue of 20 million Greenvale shares. This transaction significantly bolsters Greenvale's uranium portfolio, positioning the company to leverage the project's advanced exploration status and historical data.

Historical Exploration Validates High-Grade Mineralisation

Oasis was initially discovered during the 1970s uranium exploration surge, with Esso Minerals conducting extensive work between 1977 and 1979. Their drilling program, comprising 46 holes totaling 4,755 metres, delineated high-grade primary uranium mineralisation over a 300-metre strike length and 200-metre vertical depth. Notably, mineralisation remains open both at depth and along strike, indicating significant upside potential.

Subsequent drilling by Glengarry Resources in 2005-2006 validated Esso's findings, confirming continuous high-grade mineralisation with intercepts up to 1 metre at 0.72% U3O8. Mega Georgetown's 2007 reverse circulation drilling further extended mineralisation zones and identified additional structural controls. The recent reprocessing of geophysical data by Terra Search Pty Ltd has highlighted nine priority uranium anomalies along a 10-kilometre strike length, underscoring the project's regional potential.

Geological Significance and Exploration Potential

The geology of EPM 27565 is complex, dominated by a mixture of Proterozoic to Silurian age granitic and metamorphic rocks. The uranium mineralisation is interpreted to be of the intrusive (Alaskite) style, akin to world-class deposits such as the Rossing mine in Namibia. This style is characterised by structurally controlled uranium hosted within shear zones associated with leucogranite intrusions, a model supported by recent age dating of uraninite at 433 ± 4 million years.

This geological setting is significant as Alaskite deposits account for approximately 10% of global uranium reserves and are typically large, moderate-grade deposits. The presence of multiple untested radiometric and magnetic anomalies within the permit area suggests considerable exploration upside beyond the known Oasis deposit.

Ambitious 2025 Exploration Program

Greenvale has outlined a three-stage exploration program for 2025 aimed at rapidly advancing the Oasis project to JORC 2012 resource status. The initial phase will focus on geochemical testing of the Oasis shear zone using track etch techniques to detect radon gas anomalies, complemented by geological prospecting. Subsequent stages will target eight additional priority uranium anomalies identified from geophysical data, with follow-up drilling planned for confirmed targets. Detailed mapping and geochemical testing of undercover structural splays will also be undertaken to identify blind deposits.

This aggressive approach reflects Greenvale's confidence in the project's potential and its commitment to unlocking value through systematic exploration and resource definition.

Robust Funding and Corporate Position

Greenvale's funding position supports immediate commencement of the exploration program. The company recently received $1.175 million from the 2024 R&D rebate and anticipates an additional $250,000 from the sale of a non-core exploration permit. What's more, a $3 million loan facility remains available, providing financial flexibility.

The acquisition and planned exploration activities align with Greenvale's broader strategy to expand its uranium asset base and capitalize on the growing demand for nuclear fuel resources.