Greenvale Energy poised to start maiden drilling at Oasis uranium project

Greenvale Energy is awaiting permitting and approvals to start maiden uranium drilling at its Oasis project in Queensland.

Greenvale Energy is gearing up for maiden drilling at its Oasis uranium project. Pic: Getty Images

Special Report: Greenvale Energy is setting the stage for maiden drilling at its Oasis uranium project in Queensland where historical exploration had demonstrated continuous, high-grade mineralisation.

• Greenvale Energy preparing to carry out maiden drilling at its Oasis uranium project in Queensland
• Company has identified multiple regional anomalies that have potential to mirror the Oasis deposit
• Assays pending for rock chip sampling over broader regional targets

Oasis and the associated regional uranium anomalism are contained within the 90km2 EPM 27565 that is about 250km west of Townsville.

It was first discovered in the 1970s and lies along the Lynd Mylonite Zone – the western side of which has faults that structurally control uranium anomalies such as Oasis.

Subject to securing permitting and routine approvals with landholders and traditional owners, Greenvale Energy (ASX:GRV) expects to start the maiden drill program within the next four weeks.

Proposed drill pads and drill collar locations have already been pegged by the company.

“We’re excited to now have our team up on site and work underway to prepare for Greenvale’s maiden drill program at Oasis,” chief executive officer Alex Cheeseman said. 

“We have a number of high-quality advanced targets to test and look forward to getting this first drill program underway.”

Other work

Previous radiometric modelling has identified regional anomalies similar to the Oasis deposit.

These were targeted by the company’s reconnaissance field mapping and sampling, which comprised surface mapping, handheld scintillometer (radiation) surveying and rock chip sampling to ground truth the regional radiometric anomalies.

Mapping around the largest radiometric anomalies identified biotite schistose rocks within a zone of heavily altered, biotite-rich granite, along with a potential shear zone.

This may account for the elevated radiometric readings observed in surrounding drainages.

Adding interest, GRV has identified a long, folded sequence of metasedimentary rocks – possibly gneiss – striking east-west, directly north of the altered granites and biotite schists.

As uranium mineralisation at Oasis is hosted by a quartz chlorite biotite schistose shear zone, the presence of similar biotite schistose rocks and a potential shear zone within EPM27565, correlating with strong radiometric readings, is highly encouraging.

GRV is currently engaging with drill contractors and associated support elements to undertake the drill program.

It also expects to receive assay results from regional rock chip sampling in the September 2025 quarter.

This will help determine the next stage of work required to develop and test the regional targets surrounding the Oasis deposit.

Cheeseman notes the broader regional targets, which have never been drill tested despite their “obvious prospectivity”, represent compelling opportunities for large scale resource discovery.

“Greenvale is currently advancing multiple exploration work programs aimed at making new discoveries and rapidly growing our uranium resource base in Queensland and the Northern Territory,” he added.

This article was developed in collaboration with Greenvale Energy, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.