Greenvale Energy Ltd (ASX:GRV) is set to take on a highly prospective play in the Northern Territory, whose mineralisation is anticipated to centre on sandstone-hosted andunconformity type uranium.

The company has entered into a Binding Heads of Agreement with Gempart (NT) Pty Ltd to acquire an initial 80% interest in the Elkedra Uranium Project, which is comprised of one large Exploration Licence across an area of 566 square kilometres.

Elkedra – which is located 300 kilometres northeast of Alice Springs – includes an extensive U/TH ratio and a coincident uranium anomaly over a 8 kilometre strike length, making it highly prospective for sandstone-hosted and unconformity type uranium mineralisation.

The anomaly itself is also found immediately south-east of the fertile metamorphosedhalo of the Elkedra granite.

CEO Mark Turner said he was pleased that Greenvale had acquired another high-potential uranium asset.

“The Elkedra Project represents another significant addition to our growing Australian energy portfolio, complementing the recently acquired Douglas, Tobermorey and Henbury Projects,” he said.

“The Elkedra Project has proven prospectivity for large-scale sandstone-hosted uraniumdeposits in an attractive geological setting and comes with multiple high-priority exploration targets. Elkedra is also prospective for unconformity type uranium mineralisation.”

Greenvale has been trading at 2.9 cents.

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