Image source: Shutterstock

Highlights

  • Greenvale completes acquisition of 100% interest in Oasis Uranium Project.
  • Drilling at Oasis targeted to begin mid-May, weather and access permitting.
  • Exploration activity progressing across additional Northern Territory uranium projects.

Greenvale Energy Limited (ASX: GRV) has announced the formal completion of its acquisition of the Oasis Uranium Project in Queensland, following regulatory approval for the transfer of exploration permit EPM 27565. The company finalised a $200,000 cash payment and issued 20 million shares to vendors Maverick Exploration Pty Ltd, Remlain Pty Ltd, and Mineral Intelligence Pty Ltd.

The acquisition adds a uranium asset with historical high-grade mineralisation to Greenvale’s portfolio, which also includes the Douglas River, Henbury, Elkedra, and Tobermorey projects located in the Northern Territory. These assets are now part of a broader exploration program that is gaining momentum across both Queensland and the NT.

With acquisition terms met, preparations for the company’s maiden drilling program at Oasis are underway. Field crews are currently mobilising to the site, with a drill rig scheduled to arrive by mid-May. Drilling is expected to commence shortly thereafter, subject to weather conditions and site accessibility.

Concurrent to developments at Oasis, Greenvale is ramping up activity at its Northern Territory projects. In-fill magnetic and radiometric surveys are in progress, and ground-based exploration has commenced across multiple tenements. These efforts aim to refine targets ahead of additional drilling across the region.

The Oasis project, first identified in the 1970s, has remained largely underexplored for decades. The current program represents the first major follow-up effort, with the aim of evaluating the full extent of historical uranium mineralisation and nearby radiometric anomalies.

This acquisition and the associated exploration plans mark a continuation of Greenvale’s broader strategy to advance its uranium assets through staged fieldwork and drilling initiatives in multiple Australian jurisdictions.