Oasis Uranium Project, North Queensland
Greenvale Energy Limited (ASX: GRV) has acquired a 100% interest in the high-grade Oasis Uranium Project, located in Far North Queensland. The project encompasses Exploration Permit EPM 27565, covering 90km² of structurally complex alkaline intrusive and metamorphic terrane. Historical work by Esso in the late 1970s defined a 300m strike length of uranium mineralisation, with high-grade intercepts such as 1m @ 0.72% U₃O₈....
Project’s Summary
Oasis was discovered during the 1970s uranium exploration push by International companies , most notably Esso whose subsequent work (1977-1979) defined high priority targets with only the Oasis deposit drill tested to date
Oasis occurs along a structure associated with a major crustal terrane boundary. (Lynd Mylonite Zone). 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
Four due diligence diamond drill holes completed in 2006 by Glengarry Resources validated the historic Esso data and confirmed continuous high grade mineralisation with intercepts up to 1m @ 0.72% U3O8 (15.8 lbs/t). Oasis shear is interpreted to extend undercover for another 1.5Km to the north and remains untested for extensions to mineralisation.