Greenridge Exploration Inc. announced the results of the Summer 2025 diamond drilling program (the ?Program?) at its Carpenter Lake Project (?Carpenter Lake? or the ?Property?), located on the southern margin of the Athabasca Basin in northern Saskatchewan, Canada. Eight holes were completed for a total of 1,368 metres on selected target areas along the Cable Bay Shear Zone (the ?CBSZ?), a major structural feature that bisects the Project.
Highlights of the 2025 Drilling Program Eight holes were completed for a total of 1,368 m of core NQ drilling across select targets intended to test Geophysical and Geochemical targets along the CBSZ targeting shallow basement-hosted uranium mineralization at the target areas. Two drillholes were lost before reaching their planned depth due to technical issues. Drilling intersected prospective lithologies for hosting uranium mineralization, namely graphitic pelitic gneisses carrying sulphides, with anomalous pathfinder geochemistry including uranium, arsenic, nickel, copper, cobalt, lead and zinc. Intervals of anomalous radioactivity (measured by downhole Mount Sopris 2PGA-1000 downhole gamma probe) were intersected in three of the eight drill holes completed and is associated with structural zones and favorable rock types including graphitic pelite adjacent to favorable cross structures, and structural breaks.Graphitic-sulphidic stacked shear and fault zones were encountered in multiple holes, many featuring prominent brittle reactivation features including breccias, cataclasites, and fault gouge.
Anomalous dravite, a pathfinder clay alteration mineral containing boron, which is often found near a potential mineralized system, was observed by short wave infra-red (?SWIR?) spectroscopy and confirmed by laboratory analysis, showing strongly anomalous Boron associated with structural deformation and anomalous uranium. The 2025 drill program has demonstrated that the prospective graphitic pelitic gneisses at the Project extends further south than previously known, and that anomalous geochemistry observed in the drill core (uranium, boron and base metals) indicate that uranium-bearing fluids have mobilized along the CBSZ. The helicopter-assisted drilling operations generated a low environmental impact during drill moves and drill pad construction, providing a sustainable exploration practice.
Following its review of the 2025 drilling results, Greenridge believes that the greatest potential for uranium mineralization within the Project area lies in continued testing of areas where gravity lows coincide with structural breaks, cross cutting structures or offsets in EM conductors. A ground gravity survey is being commissioned consisting of approximately 1,000 survey stations straddling the identified electromagnetic (?EM?) conductors along the CBSZ trend. Additionally, Greenridge is continuing comprehensive geophysical inversions and lithostructural modelling to gain a more comprehensive understanding of structural elements that may control potential for uranium mineralization.
The drilling program successfully confirmed the presence of graphitic pelitic gneisses extending further south than previously known, the combined presence of sulphides and returned anomalous uranium and pathfinder element geochemistry, along with zones of promoted radioactivity associated with favorable structures and rock types. The program also identified stacked graphitic-sulphidic shear zones with evidence of structural reactivation, as well as boron-rich dravite alteration, supporting the interpretation that uranium-bearing fluids have migrated along the shear zone. Work is ongoing at the property with refined geophysical surveys and ongoing targeting work underway.
