Oasis Drilling Yields Up to 6,930ppm U3O8; Douglas River Tenure Grows to 1,216km²

Maiden Drilling Delivers Transformational Results

Greenvale Energy Limited (ASX – GRV) has reported a successful maiden drilling campaign at its Oasis Uranium Project in Queensland, marking the first modern exploration at the site in over 15 years. The twelve-hole program, completed safely and on schedule, has revealed multiple zones of high-grade uranium mineralisation, with assays confirming exceptional grades that could underpin future resource growth.

Highlights include drill hole 25GRV002, which intersected 8 metres averaging 2,125ppm U3O8 from 84 metres downhole, including a standout 1 metre interval grading nearly 7,000ppm U3O8. Other holes delivered similarly impressive results, reinforcing the continuity of mineralisation along strike and at depth. These findings provide a robust foundation for Greenvale’s next phase of exploration and resource modelling.

Strategic Expansion in Northern Territory

Beyond Queensland, Greenvale has significantly expanded its footprint in the Northern Territory’s Pine Creek region, a globally recognised uranium and gold province. The acquisition of two additional exploration licence applications at the Douglas River Project has increased the company’s tenure to approximately 1,216 square kilometres. This expansion positions Greenvale to explore for shallow sandstone-hosted and unconformity-type uranium deposits, similar to nearby discoveries such as Patronus Resources’ Thunderball deposit.

Field programs at other Northern Territory projects, including Henbury and Elkedra, continue with detailed geophysical and geochemical surveys underway. However, the company has withdrawn from the Tobermorey Project, reflecting a strategic focus on higher-potential assets.

Technical Progress and Financial Position

Greenvale is advancing its Alpha Torbanite Project in Queensland through Test Program 7, conducted in partnership with Monash University. While progress has been hampered by delays in procuring specialised laboratory equipment, the company has engaged additional process engineering expertise to support development efforts.

Financially, Greenvale ended the quarter with approximately AUD 2 million in cash and no debt, supported by a director-provided undrawn finance facility. Exploration expenditure was AUD 693,000 for the quarter, predominantly focused on uranium drilling activities. The company also anticipates lodging an R&D tax incentive claim, which historically has returned significant funds to support ongoing exploration.

Outlook and Next Steps

Remaining assay results from the latter drill holes at Oasis are expected in the December quarter, which will be critical to refining the geological model and advancing resource estimation. Greenvale’s active engagement with traditional owners and regulatory bodies underscores its commitment to responsible exploration practices.

With high-grade uranium discoveries and strategic tenure growth, Greenvale Energy is positioning itself as a notable player in Australia’s uranium sector. However, the company’s cash runway of under two quarters highlights the importance of timely capital management to sustain momentum.