Douglas River Project -

Douglas River Project

EL33670 & ELA 33900

Greenvale has secured the rights to obtain an immediate 80% interest in the Douglas Uranium Project located 200km south of Darwin in the Pine Creek Mineral Field.

The project is highly prospective for a suite of elements including Uranium, Tin and gold.

The Pine Creek Region is one of the world’s largest and richest uranium provinces, containing the Alligator River (Ranger, Jabiluka deposits), Rum Jungle and South Alligator Valley (Coronation Hill, El Sherana Deposits).

Despite this the region remains lightly explored particularly in the southern Daly Basin area where the Geology supports multiple ideal settings for sandstone hosted uranium deposits.

Greenvale proposes to fly 100m spaced airborne magnetics/radiometrics over the entire project area as a precursor to ground exploration.

Historical 400m line spaced airborne magnetics/radiometric survey by the NTGS had defined multiple U/Th ratio anomalies which are concentrated within the eastern and western paleochannels with two highly anomalous zones defined in the eastern paleochannel.

United followed up eastern paleochannel ground sampling with a close spaced airborne radiometric survey immediately over the southeastern anomaly which defined a significant drill target. United abruptly ceased work subsequent to the Fukushima tsunami impact.

The southeastern anomaly is considered by Greenvale to be an immediate drill target.

The northeastern U anomaly is defined by 400m line spacing radiometrics and requires close spaced (100m) airborne radiometrics to better define the anomaly prior to drilling.

Historical Exploration Summary

NTGS databases “Historical Mineral Titles” and “GEMIS” were interrogated to capture past exploration titles overlapping EL33900 and EL33670, and all relevant reports were reviewed.

Previous exploration efforts relevant to the area of EL33900 and EL33670 involving investigations or collection of new data are summarised thereafter.

Work on many promising prospects ceased prematurely due to corporate restructuring by the major exploration/mining companies, or lack of funds in the junior sector particularly 2012-2015.

Title & Final Year	Titleholder, (Report reference) & exploration work
AP1693 1968	Continental Oil Company of Aust. Explored Cambrian sediments of Daly River Basin for phosphate. Maximum 2% P₂O₅. No work on EL33900.
AP2518 1972	CRAE. Collected small number of surface samples in Stray Ck area. Best U assay 18 & 10ppm. Concluded Jinduckin Fm and Cullen Granite not prospective but Stray Ck sandstone needs investigation.
EL2118 1981	Pancontinental Mining. Explored for limestone; collected 120 rock chip samples but only 20% have CaCO₃/MgCO₃ >10.
EL2197 1981	Territory Mining explored for Sn, diamonds, Cu, Co, Ni. Panned samples from Cullen Granite. Drainage samples from Douglas River in north of EL33900 revealed highly anomalous Ta, Sn and Nb. No follow-up.
EL5297 1989	Shell / Denehurst. No anomalies from 43 drainage samples assayed for base & precious metals. Denehurst took 3 drainage samples; panned cons assayed 3.1, 1.46 & 0.08ppm Au. No follow-up.
EL7673 1994	Stockdale. One of 5 EL’s for diamond exploration. Collected hundreds of drainage samples without locating kimberlites. No chemical assays.
EL7796 1995	Stockdale. One of 5 EL’s for diamond exploration. Collected hundreds of drainage samples without locating kimberlites. No chemical assays.
EL23569 2012	Red Rock Res / Resource Star. Gold and uranium exploration on Cullen Granite – Pine Ck Shear. Anomalous assays from rock chips from Woolgni Goldfield. No data useful to EL33900.
EL24815 2012	United Uranium. Substantial work for uranium within EL33900 area. Low tenor base metal anomalies from rock chip and soil samples. Flew 500m AEM which defined two interpreted palaeochannels in Stray Ck area. Detailed work included mag/rad survey, soil sampling and IP survey. RC drilling aborted due to wet season and program then abandoned.
EL25229 2016	Territory Uranium – Spectrum Rare Earths. Substantial exploration for uranium and REE’s. Work mostly west of EL33900 included airborne mag/rad & AEM, soil, drainage & rock chip sampling, Auger, RAB & diamond drilling, costeaning and trial pit. Defined ten prospects including good REE mineralisation at Stromberg and Quantum. Only prospect in EL33900 is Area 16 with maximum 70ppm U & 735 TREE in rock chips.