Greenvale Energy has acquired the high-grade Oasis uranium project, 50km west of Greenvale, for $200,000 cash and 20 million shares.

The company proposes an aggressive 2025 exploration program at Oasis with the goal of bringing known and extended mineralisation to JORC 2012 resource status.

In announcing the acquisition, Greenvale said Oasis added considerable weight to its portfolio of uranium exploration projects.

It also holds the Douglas River, Tobermorey, Elkedra and Henbury uranium projects in the Northern Territory.

‘Oasis occurs along a structure associated with a major crustal terrane boundary (Lynd Mylonite Zone),’ the company stated in its announcement to the ASX.

‘The metamorphic host rocks, voluminous granite and leucogranite, and deformation history share many of the characteristics that can be interpreted as intrusive (Alaskite) style of uranium mineralisation .

‘This is an exciting possibility if further exploration continues to strengthen the analogy with world-class uranium mines like the Rossing, Namibia.’

The vendors of the project are Maverick Exploration, Remlain and Mineral Intelligence.

The site has a long exploration history.

Airborne radiometric uranium anomalies were located by Anglo American in 1973 and Esso completed major work on the ground in 1977-79, defining high-grade primary uranium mineralisation over a 300m strike length and 200m vertical depth.

Most recently, Maverick Exploration and Townsville-based mineral consultants Terra Search reprocessed and interpreted historical geophysical data, Greenvale Energy said.

This work identified nine priority uranium anomalies over a 10km strike length, adjacent to and apparently emanating from the major terrane boundary delineated as the Lynd Mylonite Zone, it said.

Greenvale’s exploration plans for the site include:

• Geochemical testing of the entire Oasis shear, which extends under cover for 1.5km north of identified mineralisation, by track etch technique (radon gas cupping, emanometry) and geological prospecting.
• Geochemical testing of eight priority coincident radiometric/structural anomalies by track etch technique in conjunction with geological prospecting and follow-up drilling of identified targets.
• Ground truthing and detailed mapping of all undercover structural splays emanating from the Lynd Mylonite zone where radiometrics don’t work, and geochemical testing of identified splays with track etch technique.

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