Highlights

  • Greenvale Energy shares rose 8.57% to AUD 0.038 during the morning session on 24 June 2026.
  • The company completed a 4,312-line kilometre airborne geophysical survey at the Thunderball Uranium Project in the Northern Territory.
  • The survey was conducted at 100-metre line spacing and 50-metre flight height to improve geophysical resolution across EL34157.
  • Data from the survey is expected to support future drill target generation once processed and interpreted.

Greenvale Energy Limited (ASX:GRV) shares surged 8.57% to AUD 0.038 during the morning session on 24 June 2026 after the company announced a major exploration milestone at its Thunderball Uranium Project in the Northern Territory. The update confirmed the completion of a large-scale airborne geophysical survey, marking a key step in advancing the company’s uranium exploration program across its Northern Territory landholding.

The strong intraday movement reflects increased investor attention on uranium-focused exploration stocks, particularly those progressing new geophysical datasets that may lead to future drilling targets. Over the past year, Greenvale shares have gained around 26.67%, with continued momentum supported by ongoing exploration activity across its portfolio.

About Greenvale Energy

Greenvale Energy is an ASX-listed exploration company focused on building a portfolio of energy and critical minerals projects aligned with global demand for low-emissions energy and supply chain security.

The company’s primary focus is its uranium exploration projects in the Northern Territory, including the Thunderball Uranium Project located in the Pine Creek region. In addition, Greenvale also holds the advanced Oasis Uranium Project in Queensland and other early-stage energy transition-related assets.

The company’s strategy is centred on systematic exploration, data-driven target generation and the advancement of high-potential uranium exploration corridors across Australia.

Major Airborne Survey Completed at Thunderball Project

The key driver behind today’s share price movement is the completion of a significant airborne geophysical survey across Exploration Licence 34157 at the Thunderball Uranium Project.

Greenvale confirmed that survey contractor Thomson Airborne completed a total of 4,312.97 line kilometres of airborne magnetic and radiometric data acquisition. The survey was conducted at a tight 100-metre line spacing and flown at an altitude of approximately 50 metres above ground level.

While the dataset is still pending processing and interpretation, the company stated that the results are expected to provide a high-resolution geophysical framework across the entire tenement. This dataset will be used to refine exploration targeting and support future drill planning activities.

The survey is designed to fill gaps in historical geophysical coverage, improving resolution across structurally important areas of the project.

Improved Data Resolution Expected to Support Target Generation

According to the company, the newly acquired airborne data will be integrated into existing geophysical datasets that have been compiled from multiple historical surveys conducted since the 1950s.

The new survey is expected to significantly improve resolution across key structural features, including the Hayes Creek Fault Zone, which is considered an important control on uranium mineralisation in the region.

The survey lines were flown in an east-west orientation to optimise structural interpretation across multiple geological trends. This design is expected to help map features with varying strike directions across the project area.

Once processed, the dataset will support further refinement of exploration targets and assist in identifying priority areas for future drilling programs.

Geological Setting Supports Uranium Potential

The Thunderball Uranium Project is located in a geologically complex and prospective region at the intersection of the Pine Creek Orogen, the Birrindudu Basin and the Daly Basin.

This geological setting includes multiple aged rock formations ranging from Mesoproterozoic to Cambro-Ordovician sequences, which are considered favourable for uranium mineralisation.

A key structural feature of the project is the Hayes Creek Fault Zone, a major northeast-southwest trending structure extending for more than 20 kilometres through the project area. This fault system is interpreted as a key fluid pathway for uranium-bearing mineral systems in the region.

Historical exploration activity in the broader Pine Creek region has identified uranium occurrences associated with similar structural settings, providing additional geological support for ongoing exploration activity.

Next Phase of Exploration Already Underway

Greenvale indicated that the completion of the airborne survey represents the start of a broader field season across its Northern Territory uranium assets.

Field teams are currently being mobilised for ground-based exploration activities, including mapping and sampling across pre-defined target areas within EL34157 and adjacent tenements.

These follow-up programs are designed to validate geophysical anomalies identified in the airborne dataset and refine drill targets for future exploration campaigns.

The company noted that fieldwork will commence shortly, with exploration teams preparing to assess both existing targets and any new anomalies identified from the recently completed survey.

Government Support Through Exploration Grant

In addition to the airborne survey, Greenvale has also been awarded an exploration grant under Round 19 of the Northern Territory Government’s Geophysics and Drilling Collaboration program.

This grant will co-fund a planned airborne electromagnetic (AEM) survey across the Thunderball project area. The proposed survey will use advanced SkyTEM technology and is intended to further enhance subsurface geological interpretation.

The AEM survey is expected to improve resolution across key geological boundaries, including the contact zones between the Pine Creek Orogen and surrounding basin systems.

According to the company, the grant highlights continued government support for exploration activity in the Northern Territory and will assist in accelerating data acquisition across its project areas.

Managing Director Commentary on Field Progress

Greenvale Managing Director Alex Cheeseman commented that the completion of the airborne survey represents an important milestone in advancing the company’s exploration strategy.

He noted that completing fieldwork safely and efficiently remains a key focus and highlighted the importance of high-quality geophysical data in supporting future exploration decisions.

Management indicated that once processed, the dataset will provide a comprehensive high-resolution overview of the Thunderball Project area and support ongoing target development efforts.

The company also emphasised that field teams are being mobilised to follow up on emerging exploration targets in the near term.

Future Work Program and Timeline

Looking ahead, Greenvale is progressing planning for additional airborne electromagnetic surveys supported by government funding.

Under current timelines, funding agreements are expected to be finalised by August 2026, with the new AEM survey scheduled for completion by December 2026.

In parallel, ground-based exploration activities, including mapping and sampling programs, are expected to continue across multiple tenements within the project area.

The integration of airborne geophysics, historical datasets and field observations will form the basis for future drill target generation across the Thunderball Uranium Project.

Why Investors Reacted Positively

The strong share price reaction appears linked to the completion of a large-scale airborne survey that significantly enhances the dataset available for exploration targeting.

Investors may have also responded to the scale of the survey, the high-resolution nature of the data acquisition and the company’s clear near-term exploration roadmap.

Additional support from government exploration funding and planned follow-up field programs further reinforced the perception of ongoing operational momentum within the project.

While no drilling results or resource estimates were announced, the update provides an important technical foundation for future exploration decisions.

What This Means for Investors

Greenvale Energy’s latest announcement confirms the completion of a major airborne geophysical survey at its Thunderball Uranium Project, representing a key step in its 2026 exploration program. The newly acquired data is expected to play an important role in refining exploration targets and guiding future drilling activities.

With additional airborne electromagnetic surveys planned and ground-based exploration already being mobilised, investors are likely to monitor upcoming data interpretation results and any new drill targets generated from the expanded geophysical dataset.