Greenvale Energy broadens uranium ventures

Greenvale Energy (ASX:GRV) has secured an 80% interest in the Elkedra Uranium Project in Australia's Northern Territory. This acquisition enhances Greenvale's existing uranium projects, including Douglas, Tobermorey, and Henbury, and covers a 566 km² area rich in uranium potential.

Greenvale Energy's strategic uranium expansion

Greenvale Energy's acquisition of an 80% interest in the Elkedra Uranium Project marks a significant expansion of its energy portfolio. The Elkedra Project is located in the Cambrian Georgina Basin and is promising for uranium mineralization. The acquisition agreement with Gempart (NT) Pty Ltd includes a free-carry for Gempart until a Definitive Feasibility Study. This move aligns with Greenvale's strategy to strengthen its position in the uranium sector, with exploration activities planned to tap into the project's potential. Greenvale aims to enhance its exploration and development potential, looking to capitalize on Elkedra's geological advantages.

Executive insights from Greenvale Energy

CEO Mark Turner expressed enthusiasm about the project's potential and the strategic fit within Greenvale's portfolio. The company is eager to commence exploration activities, leveraging the project's accessible and prospectively rich geological setting.