Greenvale Energy Ltd has identified a large-scale potential paleochannel uranium target extending over approximately nine kilometres of strike and up to 400 metres in width at the Powers Prospect, within Exploration Licence 34157 at the Thunderball Uranium Project in the Northern Territory.

The target was delineated following an airborne magnetics-radiometrics survey completed in July 2026 that generated 13 priority uranium targets across the licence area. Ground-based scintillometer and portable XRF measurements at the Powers Prospect returned anomalous uranium readings consistently between 20ppm and 28ppm equivalent uranium, sitting three to four times above the natural average background reading of 6ppm.

Field mapping demonstrated a correlation between radiometric anomalies and underlying Tindall Limestone, supporting the interpretation of potential calcrete-hosted mineralisation at the top of a paleochannel system.

“The discovery of the Powers Prospect is an exciting outcome from genuine greenfield exploration and a credit to what our exploration team have been able to achieve in such a short period of time, particularly given that EL34157 was granted less than six months ago.”

— Alex Cheeseman, Managing Director

Greenvale has initiated regulatory processes to obtain an environmental mining licence and secure drilling approval for the prospect. The work forms part of a broader exploration push supported by a July 2026 share placement that raised approximately $3.25 million at $0.033 per share.

The Thunderball activities run alongside Greenvale's proposed acquisition of uranium rights for the Pine Creek Project from Patronus Resources Limited. The company is also planning a close-spaced airborne electromagnetic survey across the Thunderball tenure in the coming months.

Read the full announcement: 9km long Uranium Paleochannel Target Identified