Highlights
Target Identification Success
- KorrAI's proprietary technology effectively mapped high-priority targets, reducing the time and resources traditionally required for ground reconnaissance. Radon stress analysis identified potential concealed uranium targets beneath till cover.
Advanced Geospatial Products
- The geospatial datasets delivered by KorrAI, including iron oxide mapping and baseline AI/ML prospectivity models, have been instrumental in validating Greenridge's exploration targets and refining knowledge of the Nut Lake Property geological framework.
Cost and Risk Reduction
- Leveraging Remote Sensing and AI to Minimize Risks and Focus Resources on High-Impact Exploration Targets.
VANCOUVER, British Columbia, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | OTC: GXPLF | FRA: HW3), is pleased to announce that KorrAI Technologies Inc.’s (“KorrAI”) innovative AI and remote sensing technologies program (the "Program") have extensively mapped Fe-oxide targets, identifying numerous high-priority targets at the Company’s Nut Lake Uranium Project (“Nut Lake Property” or the “Project”). Integration of geospatial data, radiometric surveys and field samples has refined the exploration focus highlighting promising uranium prospects.
Russell Starr, Chief Executive Officer of the Company, commented, “Pairing the KorrAI technology with our ground programs has significantly increased our understanding of the Nut Lake Property. The Company expects to receive its 2024 ground exploration results in the coming weeks. The program included (17) sample locations that showed readings greater than 30,000 cps, with six (6) sample locations registering off-scale radioactivity*. (Please see News Release dated September 17, 2024). These results will be integrated with the high-priority targets identified by KorrAI, enabling Greenridge to develop a well-informed drilling program.”
Key Outcomes
Outcrop Prediction and Analysis
KorrAI’s Convolutional Neural Network models successfully identified clean and vegetation-free outcrops. These predictions were generated using custom training models, producing a heatmap of project-ready outcrop clusters. Results indicated a significant concentration of outcrops on the eastern half of the Project with notable clusters inland in the west.
Fe-Oxide Target Prioritization
Fe-oxide band ratios were analyzed statistically with outcrops prioritized based on high mean, high maximum and low standard deviation values relative to surrounding features. 564 Fe-oxide targets were identified, of which 120 were deemed high-priority, aligning with the uranium exploration model associated with hematite alteration.
Refined Exploration Targets
Spatial relationships between multiple datasets, including biogeochemical stress anomalies, radiometric surveys and known uranium occurrences, were integrated to refine exploration targets. High-priority targets were further identified based on proximity (200-300m) to upstream radon-induced vegetation stress anomalies, evidence of radioactive decay, and structural features.
Validation of Existing Data
The overlap of biogeochemical stress heatmaps with previous radiometric surveys enhances confidence in the identified anomalies, providing further validation for exploration strategies.
Figure 1 - Greenridge's Nut Lake Property boundary with AI-mapped outcrop and satellite-derived zones of elevated biogeochemical stress.
Implications for Future Exploration
The integration of KorrAI’s geospatial datasets will refine Greenridge's exploration strategy enabling a focused approach toward high-priority targets. The data will aim to accelerate field exploration, reduce costs and enhance the likelihood of significant discoveries at the Nut Lake Property.
The integration of cutting-edge technology from KorrAI underscores Greenridge’s commitment to innovation in mineral exploration. The outcomes at the Nut Lake Property not only enhances the immediate Project prospects, but also sets a precedent for leveraging AI and hyperspectral imaging in future exploration ventures.
The KorrAI partnership establishes a benchmark for combining AI, hyperspectral imaging and field data integration, driving innovation in mineral exploration. Greenridge anticipates leveraging these insights to expand its exploration footprint and achieve tangible results in upcoming field programs.
Qualified Person
The technical information contained in this news release has been reviewed by Neil McCallum B.Sc., P. Geo., of Dahrouge Geological Consulting Ltd., who is a “Qualified Person” as defined in NI 43-101 - Standards of Disclosure for Mineral Projects.
* It is important to note that while elevated radioactivity is promising, it does not directly indicate uranium mineralization, and further assays are required to confirm the presence of uranium or other economically valuable minerals. Samples from the aforementioned locations have been collected, and results are pending.
About Greenridge Exploration Inc.
Greenridge Exploration Inc. (CSE: GXP | OTC: GXPLF | FRA: HW3) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in North America. The Carpenter Lake Uranium Project is located in the Athabasca Basin consisting of 7 mineral claims covering 13,387 hectares across the Cable Bay Shear Zone and the Company is advancing the project to test multiple high priority targets. The Company’s Nut Lake Uranium Project 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 depth2. Additionally, the Company’s Weyman Copper Project in southeast British Columbia sits on the south portion of the famous Quesnel Terrance. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects.
On Behalf of the Board of Directors
Russell Starr
Chief Executive Officer, Director
Telephone: +1 (778) 897-3388
Email: info@greenridge-exploration.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are “forward-looking statements”. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; statements with respect to the Program by KorrAI; expected benefits of using the Program and the Company's partnership with KorrAI; and the Company's anticipated exploration activities at the Project. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f4cfbea6-7383-4d9f-9882-54f7749812df
