Greenvale acquires 100% interest in advanced high grade Oasis Uranium Project
Greenvale Energy Ltd. is pleased to advise it has acquired a 100% interest in the advanced high grade Oasis Uranium project. The Oasis deposit and associated regional uranium anomalism are contained with EPM 27565 which cover 53 subblocks over an area of 90 km2 and located 250 km west of Townsville and 50 km west of Greenvale in FNQ. The project area is located entirely within the Lynd Station pastoral land. The company has acquired the 100% interest from the vendors Maverick Exploration Pty Ltd., Remlain Pty Ltd. and Mineral Intelligence Pty Ltd. (equal 1/3 each interest) for a consideration of $200,000 cash and the issue of 20 million Greenvale shares.
The acquisition of Oasis adds considerable weight to Greenvale’s portfolio of Uranium exploration projects and is expected to be rapidly upgraded to resource status during the 2025 exploration season.
Project geology and mineralisation
Geology within EPM 27565 is dominated by structurally complex mixture of intrusive granitic and metamorphic rocks of Proterozoic, Ordovician and Silurian Age with recent age dating of uraninite from the Oasis deposit recording a Silurian age. The Lynd Mylonite Zone is a dominant structural feature which strikes north north-east through the centre of the exploration permit. Multiple faults and fractures splaying off the western side of the mylonite appear to control the distribution of extensive zones of uranium anomalism including the Oasis deposit. The granitic-metamorphic terrane hosting the uranium mineralisation is bounded 10km’s to the east by the Far East Mylonite Zone which strikes parallel to the Lynd Mylonite Zone.
Previous exploration
Uranium potential was first identified by Aust Anglo American in 1973-74 from airborne radiometrics followed up by ground radiometrics, mapping and trenching. Three clusters of anomalies were identified on the western side of the Lynd Mylonite Zone including the Oasis anomaly. From 1977-1979 Esso Minerals conducted ground radiometrics, mapping and auger drilling prior to completing 34 diamond drill holes and 14 percussion holes at the Oasis prospect. Esso drilling defined a continuous zone of high grade mineralisation of varying thickness over a 300m strike length and 200m vertical depth. The mineralisation remained open along strike and at depth. No further work was undertaken at oasis or other prospects.
