Greenridge Exploration Inc. announced it has received the interpretation of results from a helicopter-borne time-domain electromagnetic survey (the "Survey") carried out on the McKenzie Lake Uranium Project ("McKenzie Lake", or the "Project"). Prospecting at the Project in 2021 discovered a large, angular uranium-bearing boulder with values up to 0.101% U3O8. Discovery by Greenridge of additional radioactive boulders and other radioactive anomalies in surficial soils and sediments could lead to an "up-ice" source for uranium mineralization.
Management cautions that historical results collected and reported by operators unrelated to Greenridge have not been verified nor confirmed by its Qualified Person; however, the historical results create a scientific basis for ongoing work at the Project. Management further cautions that historical results, discoveries and published resource estimates on adjacent or nearby mineral properties, or other properties located within the Athabasca Basin, whether in stated current resource estimates or historical resource estimates, are not necessarily indicative of the results that may be achieved on the Project. The Gibbons Creek property hosts high-grade uraniferous boulders located in 2013, with grades of up to 4.28% U3O8 4, and the McKenzie Lake project saw a 2023 prospecting program return three samples which included 844 ppm U-total (0.101% U3O 8), 273 ppm U-total, and 259 ppm U-total.
The Nut Lake property located in the Thelon Basin includes historical drilling which intersected up to 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth. In 2024, Gre enridge's prospecting program located a float sample that returned 31.13% U3O8, sourced from the Tundra Showing. The Firebird Nickel property has seen two drill programs (7 holes totaling 1,339 m), where hole FN20-002 intersected 23.8 m of 0.36% Ni and 0.09% Cu, including 10.6 m of 0.55% Ni and 0.14% Cu.
The Electra Nickel project 2022 drill program included results of 2,040 ppm Ni over 1m and 1,260 ppm Ni over 3.5m. The Company has strategic partnerships which includes properties being operated and advanced by Denison Mines Corp. and Uranium Energy Corp.
