Greenvale Energy Advances Uranium Exploration with Oasis Acquisition and Maiden Drilling Plans

Strategic Acquisition and Exploration Momentum

Greenvale Energy Limited (ASX – GRV) has marked a significant milestone in its uranium exploration journey with the completion of the Oasis Uranium Project acquisition in Queensland. This advanced project, known for its high-grade uranium mineralisation, now forms a central pillar in Greenvale’s expanding portfolio. The company has swiftly mobilised exploration teams to the site, conducting reconnaissance mapping and scintillometer surveys that have confirmed geological features consistent with uranium hosting rocks. These early field activities have identified additional targets, setting the stage for the company’s maiden drilling campaign, scheduled to commence in July 2025.

Northern Territory Projects Show Promising Anomalies

Complementing the Queensland focus, Greenvale has completed comprehensive airborne magnetics and radiometric surveys across its Northern Territory uranium projects, including Elkedra, Douglas River, and Henbury. Preliminary results reveal compelling uranium anomalies, such as an extensive 8-kilometre radiometric anomaly at Elkedra linked to granite sources, and a 32-kilometre paleochannel extension at Douglas River, which enhances the prospectivity for sandstone-hosted uranium deposits. The Henbury project also returned multiple elevated uranium anomalies, with follow-up fieldwork planned. These findings underscore the potential for significant discoveries within Greenvale’s Northern Territory tenure.

Advances in Alpha Torbanite Project Processing

On the technical front, Greenvale’s Alpha Torbanite Project has progressed with the successful completion of Test Program 6, conducted by the University of Jordan. The program identified optimal processing conditions that improve product yield and quality, bringing the company closer to producing C170-grade bitumen. Building on this momentum, Greenvale has committed to Test Program 7, to be undertaken by Monash University, aiming to produce bulk samples for third-party verification. Preparations for this six-month program are underway, including equipment upgrades and compliance certifications.

Financial Position and Corporate Developments

Greenvale ended the quarter with approximately AUD 3.1 million in cash and no debt, having reduced its director loan facility to AUD 1 million, which remains undrawn. The company invested AUD 747,000 in exploration activities during the quarter, with a strong focus on uranium projects. Corporate changes include the appointment of Alex Cheeseman as CEO, tasked with accelerating exploration efforts, and the return of Neil Biddle as Non-Executive Chairman. These leadership moves coincide with Greenvale’s transition into active drilling and resource definition phases.

Community and Environmental Engagement

Greenvale continues to engage proactively with Traditional Owners and local stakeholders, particularly in relation to environmental protocols and land access for the upcoming drilling program at Oasis. The company’s commitment to early and transparent consultation reflects its focus on sustainable and responsible exploration practices.