Greenridge Exploration Announces Maiden Diamond Drilling Program at the Carpenter Lake Uranium Project in the Athabasca Basin

Core Viewpoint - Greenridge Exploration Inc. is initiating a diamond drilling program at its Carpenter Lake Project, which is located in the Athabasca Basin, with the aim of exploring its potential for uranium mineralization [1][3][6]. Company Overview - Greenridge Exploration Inc. is a mineral exploration company focused on acquiring, exploring, and developing critical mineral projects in Canada, owning or having interests in 27 projects covering approximately 334,987 hectares [12]. - The company has one of the largest uranium property portfolios in Canada, consisting of 16 projects and additional claims covering about 221,509 hectares [13]. Drilling Program Details - The 2025 drilling program will involve helicopter-supported diamond drilling of up to 1,500 meters across eight holes, targeting depths of less than 200 meters [4]. - Mobilization for the drilling program is expected to begin in mid-to-late August 2025, with completion estimated within four weeks [4]. Geological Context - Carpenter Lake is situated along the Cable Bay Shear Zone, which is characterized by a conductive signature and historical uranium occurrences, making it a promising area for uranium exploration [3][4]. - The selected drilling targets exhibit geological features similar to known basement-hosted uranium deposits, including strong geophysical conductors and elevated uranium values in lake sediments [4][6]. Historical Context - Previous exploration at Carpenter Lake included only two drill holes conducted in 1979, which did not yield uranium mineralization due to an early termination of the program [7]. - The upcoming drilling represents the first test of the property in over 46 years, marking a significant milestone in its exploration history [7]. Community Engagement - Greenridge has established exploration agreements with the English River First Nation and Kineepik Metis Local 9, ensuring community involvement in environmental monitoring and providing financial benefits [4].