Greenridge Exploration Claims Full Control of Carpenter Lake Uranium Project, Gravity Survey Underway
18.06.2026 - 01:13:00 | boerse-global.de
Greenridge Exploration has completed a strategic consolidation in the Athabasca Basin, securing 100% ownership of the Carpenter Lake uranium project. The junior explorer exercised the final option on the 18,680-hectare property, severing its earn-in obligations to ALX Resources and Renegade Gold. The move places the company in full command of one of the basin's less-tested uranium corridors.
The acquisition, structured in May 2024, required Greenridge to pay C$200,000 in cash, issue 900,000 shares in staged tranches over three years and commit to at least C$1 million in exploration spending — all conditions now met. The project sits along 15 kilometres of the Cable Bay shear zone, a geological feature that has drawn attention in the broader Athabasca region. While the zone remains lightly drilled, early indications have been encouraging: only 12 boreholes have ever been sunk on the property, eight of which were completed by Greenridge itself. Historical data from the early 1980s returned anomalous uranium values reaching up to 0.058%, alongside traces of copper and nickel.
Fresh fieldwork is already in motion. A ground gravity survey launched in April is designed to identify clay-altered zones that can signal uranium mineralisation, with a focus on the northern target areas. Results are pending, and the company has not yet set a timeline for release. In January, Greenridge added three new claims on the southwest flank of the project, expanding its footprint before the current work programme started.
Should investors sell immediately? Or is it worth buying Greenridge Exploration?
On the market, Greenridge shares gained 8% to trade at €0.17 on Wednesday, extending a weekly advance of nearly 21%. The rally comes after a bruising period: the stock touched a 52-week low of €0.15 on 15 June, and remains 62% below the January peak of €0.47. Over the past 30 days, the equity has slipped almost 10%, and year-to-date losses stand at roughly 25%. The gravity survey results could determine whether the shares continue to recover or retest recent lows.
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