Greenvale Energy has sharpened its uranium exploration focus with new step-out targets at Oasis and secured a critical exploration licence at Douglas River, while pushing its Alpha Project into product development.
- New step-out uranium drill targets identified at Oasis Project
- Six-year exploration licence granted for Douglas River Project
- Alpha Project bulk sample production achieves 99% conversion rates
- Severe weather delayed fieldwork but stakeholder engagement continues
- Cash position steady at AUD 2.7 million with no debt
Oasis Uranium Project Unveils Multiple New Drill Targets
Greenvale Energy (ASX:GRV) has reinforced the growth potential of its Oasis Uranium Project in Queensland with the identification of several high-priority step-out drill targets following its 2025 trenching program. Assay results confirmed continuous uranium mineralisation from surface, with peak values reaching about 87 ppm U (~102 ppm U3O8). The trenching also delineated extensions of the main shear zone and parallel structures beyond the known deposit, boosting the regional discovery potential.
The company’s integration of Sentinel-2 multispectral data with geophysical and geochemical results pinpointed nine priority areas where gas and alteration anomalies align with structural features, suggesting additional intrusive-related uranium mineralisation may be present. While no drilling occurred this quarter due to severe weather, Greenvale plans to recommence fieldwork in the June quarter, focusing on ground truthing these targets through mapping and sampling.
This exploration update builds on the promising findings reported in March, where new step-out drill targets were first announced. The ongoing work aims to expand the resource base, which remains open in several directions, particularly to the south.
Douglas River Project Secures Key Exploration Licence
In the Northern Territory, Greenvale secured a six-year Mineral Exploration Licence (EL34157) at its Douglas River Uranium Project, adjacent to the world-class Thunderball deposit. This licence covers a structurally prospective area along the Hayes Creek Fault Zone, a major control on uranium mineralisation in the Pine Creek Orogen.
The granting of EL34157 follows extensive native title consultations and adjustments to exclude culturally sensitive areas, demonstrating Greenvale’s commitment to stakeholder engagement and regulatory compliance. The company is preparing for airborne geophysics and ground-based exploration scheduled for the June quarter, aiming to leverage radon and helium anomalies that correlate with known uranium anomalies in the region.
Alpha Project Advances to Product Development Phase
Greenvale’s Alpha Project in Queensland marked a significant milestone by completing Test Program 7 Milestone 3, generating bulk samples through pressure leach processing with a high conversion rate of approximately 99%. Optimisation efforts halved reaction retention time and improved reactor design, enhancing process efficiency without sacrificing yield.
These bulk samples have been dispatched to Technix in New Zealand for detailed characterisation and certification, marking a transition from process validation to product development. The Alpha Project, with a JORC Inferred Mineral Resource Estimate of 28 million tonnes (equivalent to 27.7 million barrels of synthetic oil), is positioned to address tightening domestic bitumen supply amid rising demand, as previously detailed in Greenvale’s recent update on its test program progress.
Financial Position and Corporate Updates
Despite weather-related access constraints limiting fieldwork across its portfolio, Greenvale maintained a solid cash position of approximately AUD 2.7 million at quarter-end and reported no debt, with an undrawn director finance facility of AUD 1 million. Exploration expenditure for the quarter was AUD 192,000, primarily focused on uranium projects, complemented by AUD 40,000 in R&D spend on the Alpha Project. The company also received a AUD 359,000 R&D tax rebate for the 2024/25 financial year.
On the corporate front, Greenvale appointed Alex Cheeseman as Managing Director, replacing John Barr who resigned during the quarter. The company’s streamlined board is positioned to support its active 2026 field season across Queensland and the Northern Territory.
Stakeholder engagement remains a priority, with ongoing consultations with Traditional Owners and pastoralists, especially in the Northern Territory, where local support for exploration activities is strong. Greenvale’s approach to managing cultural heritage and native title matters, particularly at Douglas River, reflects a pragmatic balance between exploration ambitions and community interests.
Bottom Line?
Greenvale’s expanded uranium targets and Alpha Project progress set the stage for a pivotal 2026, but native title processes and weather remain key operational variables.
Questions in the middle?
- How will Greenvale prioritise its multiple new uranium drill targets amid logistical challenges?
- What impact might ongoing native title consultations have on exploration timelines at Douglas River?
- Can the Alpha Project’s process optimisation translate into scalable commercial production soon?