Greenvale Energy Unveils Thick High-Grade Uranium at Oasis Project

Strong Early Results from Maiden Drilling

Greenvale Energy Limited (ASX, GRV) has announced encouraging chemical assay results from the second drill hole of its inaugural drilling campaign at the Oasis Uranium Project in Queensland. The assays confirm a thick, high-grade uranium intercept starting near the surface and extending down-dip, a significant milestone for the company’s exploration efforts.

The standout intercept from drill hole 25GRV002 returned 8 metres averaging 2,125 parts per million (ppm) uranium oxide (U3O8) from 84 metres down-hole, including a higher-grade 5-metre section at 3,263ppm. These results align closely with spectral gamma logging data, which estimates uranium content through natural radioactivity measurements, providing confidence in the reliability of the assays and indicating minimal radiometric disequilibrium at the deposit.

Geological Context and Structural Controls

The uranium mineralisation is hosted within a structurally controlled chlorite-biotite schist shear zone, consistent with historical geological interpretations dating back to exploration in the 1970s and early 2000s. This structural setting is crucial as it controls the distribution and concentration of uranium, and the confirmation of this host rock type validates Greenvale’s exploration model.

Additionally, geological observations during drilling identified minor outcrops of radiometrically anomalous granitic gneiss and chlorite-biotite schist trending north-south from the main mineralised zone. This suggests the mineralisation may extend along strike beyond the currently drilled area, a prospect that Greenvale intends to investigate further in upcoming exploration programs.

Completion of Maiden Drilling and Next Steps

The maiden drilling program, which commenced in late July 2025, has now concluded with 12 holes drilled for a total of 1,804.2 metres. The program combined Reverse Circulation pre-collars with diamond core tails to obtain high-quality samples for analysis. Spectral gamma logging has been completed for the first six holes, with the remaining six to be logged shortly.

Greenvale’s CEO, Alex Cheeseman, highlighted the significance of these results, noting the strong correlation between gamma logs and chemical assays as an excellent outcome. The company is now focused on developing a detailed geological model of the Oasis deposit, which will guide future drilling and trenching programs planned for the next quarter. These efforts aim to delineate the extent of mineralisation and refine drill targets for subsequent exploration phases.

Broader Project Potential

Located 250 kilometres west of Townsville within the Lynd Station pastoral lease, the Oasis Uranium Project covers 90 square kilometres and hosts uranium mineralisation within deformed granite intrusives and high-grade metamorphic rocks. Historical exploration by major players such as Esso and Glengarry established the deposit’s geological framework, which Greenvale is now advancing with modern techniques.

The company is encouraged by the deposit’s similarities to Alaskite-style uranium systems, like Namibia’s Rossing deposit, known for their world-class scale and grade. Early-stage regional exploration has also yielded promising rock chip samples with uranium grades up to 187ppm, indicating potential for additional discoveries beyond the Oasis deposit itself.