Greenvale Energy Expands Northern Territory Project

MT Newswires Live

Aug 08

Greenvale Energy (ASX:GRV) said it has expanded its Douglas River uranium project in the Northern Territory through the addition of two new exploration license applications, according to a Friday Australian bourse filing.

The new applications increase the project's total land position to about 1,216 square kilometers, the filing added.

The company said the geological setting indicates the potential for shallow, sandstone-hosted and unconformity-type uranium deposits like Thunderball.

"The potential of this district to host high-grade uranium deposits was recently reinforced by the outstanding intercepts reported recently by Patronus Resources from a re-assay program at the Thunderball uranium deposit, immediately to the north of Douglas River," said Chief Executive Officer Alex Cheeseman.

The company's shares rose 2% in recent Friday trade.

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