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Greenridge Exploration Provides Updated Technical Review of its Nut Lake Uranium Project in the Thelon Basin, Nunavut
VANCOUVER, British Columbia, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3), is pleased to
About this update from Greenridge Exploration Inc
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3), is pleased to announce it has completed an updated technical review of the Nut Lake Uranium Project (the “Nut Lake Property” or the “Project”) located in the Thelon Basin in Nunavut. The Project covers approximately 5,853 hectares near the Northern Tip of the Yathkyed Basin, a sub-basin of the Thelon Basin (please see Figure 1). Figure 1 - Nut Lake Property Claim Map Technical Review Update Dahrouge Geological Consulting Ltd. (“DGC”), on behalf of the Company, completed a secondary assessment of the historical data compiled for the Nut Lake Property, building on the previous technical review detailed in the Company’s news release dated April 4, 2024. The second pass performed by DGC was focused on compiling and investigating historical data for the Project, including digitizing drillhole information, georeferencing maps, and pulling data from historical reports on or near the Nut Lake Property. The highlights of this secondary assessment are listed below: Tundra Showing Historical Rock Sampling Fifteen (15) total samples with six (6) cut from trenches and nine (9) high-grade float samples2. Trench assayed up to 42% U3O8 in small, 6 cm wide, saw cut grab sample with four (4) samples containing >7% U3O8. Float samples assayed up to 28% U3O8. Historical Drilling Thirty-five (35) drillholes completed on this showing, totaling 394 meters of drilling1&3. 1.54% U3O8 over 3.5 ft including 8.84% U3O8 over 0.5 ft (DDH: W-10). 1.13% U3O8 over 6.0 ft including 4.89% U3O8 over 1 ft (DDH: W-24). 1.35% U3O8 over 2.5 ft including 3.33% U3O8 over 1 ft, and including 4.72% over 0.5 ft (DDH: W-8). 1.08% U3O8 over 2.5 ft including 3.83% U3O8 over 0.5 ft (DDH: W-12B). Figure 2 - Historical work map of the Tundra Showing on the Nut Lake Property Heartbreak Showing1 The Heartbreak showing uncovered two pitchblende fractures in an area where a swarm of biotite trachyte occurs, 200 meters to the east-southeast of the Tundra showing. The most noteworthy samples were from the Heartbreak showing which returned samples across a 3.0” and 3.5” fracture that assayed 2.11% U3O8 and 4.36% U3O8, respectively1. Fracture descriptions and assay results indicate significant mineralization potential. Frost heave on t...