VANCOUVER, British Columbia – Greenridge Exploration Inc. (CSE: GXP | OTC: GXPLF | FRA: HW3) has announced the start of a ground geophysical program at its Carpenter Lake Uranium Project, located on the southern margin of the Athabasca Basin in northern Saskatchewan, Canada. Axiom Exploration Group Ltd. of Saskatoon, Saskatchewan, has mobilized a gravity geophysical crew to the property to survey selected target areas along the Cable Bay Shear Zone (CBSZ), a major structural feature that bisects the property.
2026 Gravity Survey Highlights
Well-known basement-hosted and unconformity-type uranium deposits in the Athabasca Basin region commonly exhibit a gravity low signature, an indicator of potential clay-altered zones associated with uranium mineralization due to hydrothermal alteration reducing the host rock density. Examples of significant uranium mineralization within density-low anomalies include NexGen Energy’s Arrow deposit and Paladin Energy’s Triple R deposit in the southwestern Athabasca Basin.
Greenridge is carrying out a high-resolution ground gravity survey at the property during the final weeks of frozen ground conditions to cover target zones A1, A2, and A5, which were identified by previous geophysics and drilling. The helicopter-assisted survey operations will generate a low environmental impact during station measurements, providing a sustainable exploration practice.
Russell Starr, Chief Executive Officer of the Company, commented: “The 2026 gravity survey is designed to provide detailed geophysical data over what we consider to be priority uranium target areas at Carpenter Lake. We believe the addition of high-resolution gravity data to our database will greatly add to the definition of follow-up drilling to our inaugural 2025 drilling program.”
About Carpenter Lake and the Cable Bay Shear Zone
Carpenter Lake comprises twelve mineral claims covering approximately 18,680 hectares that straddle the southern margin of the Athabasca Basin Supergroup sandstones and cover more than 15 kilometers of the CBSZ, a prominent crustal-scale geological structure trending northeast-southwest that is largely underexplored for uranium deposits. The CBSZ is characterized by a well-defined conductive signature, radiometric anomalies, and numerous historically mapped uranium occurrences.
Greenridge believes Carpenter Lake is highly prospective for the discovery of shallow, high-grade basement-hosted uranium mineralization akin to the Rabbit Lake, Arrow, and Triple R uranium deposits. The structural style and setting along the CBSZ are ideal for the existence of a potentially significant mineralizing system, and the presence of conductive graphitic metasedimentary rocks often associated with uranium deposition in the Athabasca Basin has been confirmed by both historical drilling and the Company’s 2025 drilling on the property.
