Greenridge Exploration has acquired the Raven Uranium Project in the Athabasca Basin, Saskatchewan, Canada, through low-cost staking, with no underlying royalties.
The project comprises four mineral claims spread over 6,269 hectares (ha) and is located near the McArthur River Uranium Mine.
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The Raven Uranium Project, now 100% owned by Greenridge, is positioned near the eastern margin of the Athabasca Basin, around 65km south-east of the McArthur River Uranium Mine.
Greenridge Exploration’s acquisition includes new claims that are contiguous to a single claim already in the company’s possession.
Raven is characterised by more than 9km of a historical electromagnetic conductor aligned with a magnetic low, indicative of potential uranium mineralisation.
The region is known for its structural trends, which, when intersected by brittle faults, are considered highly prospective for uranium deposits. Despite its promising features, Raven has no known historical drill-holes, leading Greenridge to consider the property under-explored.
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By GlobalDataGreenridge possesses data from a 2021 high-resolution airborne magnetic and radiometric survey conducted over Raven.
This technology previously aided in the discovery of uranium-bearing boulders at Patterson Lake, leading to the notable Triple R find in November 2012.
Although follow-up prospecting based on historical radiometric surveys has been limited, the company has recommended conducting further surface work.
The company is considering a helicopter-borne electromagnetic survey in 2025, which may coincide with other planned surveys in the area.
In October of the previous year, Greenridge Exploration signed a binding agreement to acquire ALX Resources, marking a strategic move to become a dominant player in the Canadian uranium exploration sector.
This merger creates a combined entity with interests in 16 uranium exploration projects covering approximately 220,000ha across the Athabasca Basin, Thelon Basin and Elliot Lake.
