Henbury Project

EL33637 & EL33638

Greenvale has secured the rights to obtain an immediate 80%
interest in the Henbury Uranium Project located 120km south of Alice Springs.

The project is highly prospective for uranium, with multiple
U/Th ratio and uranium anomalies occurring within uraniferous calcrete subcrop extending over a 14km strike length.

The Henbury Project area contains extensive U/Th ratio anomalies defined from historical 400m line space airborne magnetic/radiometric geophysical surveys.

The eastern EL33638 overlies the northwest trending Chandler Thrust Zone which juxtaposes early Cambrian Chandler formation Limestone against uriniferous Late Cambrian Jay creek Limestone and uraniferous Stairway sandstone which in turn are thrust faulted to the north over Chandler formation limestone. Both Chandler formation and Jay creek Limestones have high organic content (TOC 2-4%) facilitating a reduced environment for the potential precipitation of uranium from fertile hydrocarbon enriched migrating meteoric/groundwater mineralising solutions. This is potentially a classic environment for the formation of roll front sandstone hosted uranium deposits.

Similarly on the western EL33637 a uraniferous calcrete subcrops along a 14 km strikelength tracking the thrusted contact where Ordovician source rocks within siltstone have generated and expelled hydrocarbons into Pacoota and Stairway sandstone reservoirs. All these rock exhibit high organic content (TOC>4%), an important prerequisite to formation of roll front sediment hosted uranium deposits.

Proposed Exploration Program

100m line space (north-south lines) airborne AMAG/Radiometric geophysical survey.

Ground scintillometer survey over airborne defined anomalies, field mapping rock chip sampling

Auger, air- core, sonic drilling depending on ground conditions

NTGS databases “Historical Mineral Titles” and “GEMIS” were interrogated to capture past exploration titles overlapping EL33637 and EL33638, and all relevant reports were reviewed. The table is a summary of historical titles and results reported. Previous exploration efforts relevant to the area of EL3363 7and EL33638 involving investigations or collection of new data are summarised.

Title & Final Year	Titleholder, (Report reference) & exploration work
AP2850 1972	Le Nickel (Aust) Explorat’n. Targeting base metals in Cambrian. Collected hundreds of drainage & gossan samples over huge area. Assays for Cu, Pb, Zn, Co & Mn returned few anomalous values.
EL7255 & EL7257 1992	BHP. Collected drainage samples and assayed for Au, Ag, Cu, Pb, Zn, Ni, Fe, Mn and Pd. 23 samples plot in EL33637. No significant results.
EL25049 2010	Toro Energy. Exploration for palaeochannel uranium. Completed review of airborne data but ground access denied.
EL25487 2009	Newera. Exploration for palaeochannel uranium. Flew detailed mag-rad survey over NW part of EL33637. No significant anomalies. Program ceased due to GFC.
EL25594 2009	Atom Energy/Excelsior Gold. Exploration for U and base metals. Sampled water bores without success. Flew Hyvista MSS but no prospects defined. Rock chip assays reported elevated As, Pb, V and Y but not coherent.
EL25637 2008	Thundelarra. Field scintillometer recon for uranium determined airborne U anomalies due to Tertiary ferricrete caps.
EL27183 2010	Toro Energy. Exploration for palaeochannel uranium. Completed review of airborne data but ground access denied.
EL28977 2015	USI NT. Large holding and extensive program for Mn. Mapping, soil & rock chip sampling, ground geophysics and RC drilling of two prospects. Surface assays good but very little underneath. Only work on EL33637 was collection of 10 rock chips for maximum 22.4% Mn.
EL25488 2009	Fermi Uranium / Newera Uranium. Search for redox uranium. Flew mag/rad survey which defined elevated areas of U & Th within EL33638. Collected rock chips with maximum 24ppm Th & 25ppm U. Project ceased due to GFC of 2008/2009.