Greenvale Energy Defines 9km Uranium Paleochannel Target at Thunderball Project

Large-Scale Uranium Target Emerges at Powers Prospect

Greenvale Energy Limited (ASX:GRV) has uncovered a significant uranium exploration target stretching approximately 9 kilometres in strike and up to 400 metres wide at the Powers Prospect within its Thunderball Uranium Project in the Northern Territory. This target, identified through a combination of airborne radiometric surveys and confirmed by detailed ground mapping and sampling, signals a promising paleochannel-hosted uranium system.

Managing Director Alex Cheeseman highlighted the rapid progress, noting the exploration licence EL34157 was granted less than six months ago. The systematic approach, leveraging airborne and remote sensing data followed by on-ground geochemical analysis, has effectively refined targets to a drill-ready stage. The geological setting and radiometric responses strongly support the interpretation of a calcrete-hosted uranium mineralisation system at the top of a paleochannel, a style known for hosting economically significant deposits globally.

Geological and Radiometric Evidence Points to Mineralisation

Fieldwork has revealed a north-south trending uranium anomaly consistent with the underlying Tindall Limestone geology, part of the Cambro-Ordovician aged Daly Basin. Ground radiometric surveys using RS-125 scintillometers and portable XRF devices recorded uranium levels consistently three to four times above natural background, with readings between 20 and 28 ppm equivalent uranium (eU). Notably, uranium signatures intensified as the topsoil was removed, indicating potential mineralisation at depth.

The presence of calcrete within cover sediments and the alignment of uranium anomalies with clusters of distinctive vegetation suggest sub-surface fluid pathways typical of paleochannel uranium deposits. Structural features resembling the regional Hayes Creek Fault system may provide conduits for uranium-bearing fluids, enhancing the prospectivity of the area.

Global Significance of Paleochannel Uranium Deposits

Paleochannel uranium deposits are among the world’s most economically important uranium sources, accounting for a substantial share of global production. Kazakhstan’s Chu-Sarysu and Syr-Darya basins alone produced 39% of the world’s uranium supply in 2024. Australia, the world’s fourth-largest uranium producer, hosts notable paleochannel deposits in South Australia, including the Beverley-Four Mile system. Greenvale’s target shares geological characteristics with these globally significant deposits, as well as with calcrete-hosted systems like Namibia’s Langer Heinrich mine.

Greenvale is planning a close-spaced Airborne Electromagnetic (AEM) survey to better map the base of the paleochannel system, a technique proven effective in similar deposits. Concurrently, the company has initiated the permitting process for exploratory aircore drilling at Powers Prospect, aiming to test both near-surface and deeper targets efficiently.

Advancing Exploration and Strategic Consolidation

While continuing detailed field mapping and sampling within EL34157 and the adjacent EL33670, Greenvale is also reviewing historical exploration data to enhance its geological understanding. The company is progressing efforts to acquire the Pine Creek Uranium Project, which would consolidate a district-scale landholding in the world-class Pine Creek region, potentially unlocking synergies across its Northern Territory portfolio.

This discovery and the rapid advancement towards drilling come on the back of recent capital raises and extensive geophysical surveys, underpinning Greenvale’s ambition to build a significant uranium resource base aligned with global clean energy demands.