Greenvale Energy makes slick start to uranium drilling at Oasis

• Greenvale’s maiden drilling is almost complete at Oasis uranium project 
• Five holes remain with the program on track for completion in September 
• Spectral gamma logging and Acoustic Televiewer imaging were completed on the first seven holes, with data currently being interpreted 

Special Report: Greenvale’s maiden drilling program at the Oasis uranium project in Queensland is nearly two-thirds complete, with 1000m wrapped up across seven holes. 

The program, which marks the first drilling at the site in more than 15 years, is designed to confirm historical drill results and test for extensions of mineralisation at depth and along strike.

Designed to validate legacy drilling data, holes 25GRV01 and 25GRV02 have been completed, and samples are with Intertek Laboratories for testing. 

Hole 25GRV03 was designed to test mineralisation at depth while 25GRV04 and 25GRV05 were designed to test for extensions of the deposit to the south.

Testing for extensions of the deposit to the north were holes 25GRV06 and 25GRV07.

Core from holes 25GRV04, 25GRV05, 25GRV06 and 25GRV07 has been logged and are being transported to Townsville for cutting, sampling and dispatch to Intertek.

Greenvale (ASX:GRV) said drilling had progressed smoothly under good ground conditions. No safety incidents had been recorded, reflecting the team’s strong focus on planning, compliance and safe work practices.

Drilling going to plan 

GRV CEO Alex Cheeseman said the campaign had three goals: to confirm historical drilling data, to extend known mineralisation at depth and to extend mineralisation along strike.

“With the program now well advanced, we are very pleased with how things have progressed,” he said. 

“Operationally, the drilling has gone to plan and is being conducted in a safe and efficient manner. 

“Spectral gamma logging and ATV surveying of the first seven diamond holes commenced last week and samples from the first drill hole have been sent to the laboratory in Adelaide for chemical analysis.” 

Cheseseman said the company would use the assay results from the first hole to help calibrate and reconcile the data being generated by the spectral gamma logging. 

“We expect to have this information to hand for release to market within the next 1-2 weeks,” he added. 

“The remainder of the drill program will continue to test the northern extent of the mineralised structure and lateral extensions at depth, we look forward to keeping the market updated with our progress.

“On other fronts, we have received encouraging results from recently completed reconnaissance mapping and fieldwork designed to confirm regional extensions to the Oasis deposit, with strong indications of surface uranium from rock chip sampling 4.5km to the northeast.”

Upcoming plans 

The rest of the drilling program is targeted at testing the deposit’s full extent.

Five holes remain, with the program on track for completion by early to mid-September. 

The Oasis deposit and associated regional uranium anomalism are contained within EPM 27565, which covers an area of 90sqkm and is located ~250km west of Townsville. 

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.