Greenridge Wraps Up Hook-Carter Fieldwork

Greenridge Exploration Inc. said on 24 September 2026 that it has completed its summer 2026 exploration program at the Hook-Carter uranium project in the southwestern Athabasca Basin, Saskatchewan. Greenridge holds 25% of the project, while Denison Mines Corp. owns 75% and acts as exploration operator.

The completed fieldwork included a fixed-loop electromagnetic survey covering 15.85 line-kilometres along 13 lines over the Derkson Corridor, plus collection of 429 soil samples at 50-metre spacing. The samples have been sent to Activation Laboratories in Ancaster, Ontario, for multi-element ICP analysis and hydrocarbon-based SGH geochemistry. A LiDAR survey using 0.5-metre resolution data was also flown over 44 square kilometres covering the Derkson and Patterson Lake corridors.

Chief Executive Russell Starr described the program as an important step in target development, saying the data should allow more focused drill-targeting along the Derkson Corridor for potential campaigns in 2027 or later. The company provided historical context: a 1978 drill hole, DER-04, returned 0.24% U3O8 over 2.5 metres about 4.25 kilometres south of the current project boundary, and a 2004 review of historical core identified northern holes as the most encouraging. The release does not include new assay results from the 2026 program.

Hook-Carter comprises 11 claims totalling 25,115 hectares, roughly 147 kilometres northeast of La Loche, and is interpreted to cover northeast extensions of the Patterson Lake Corridor. Nearby deposits include NexGen's Arrow and Paladin's Triple R, but Greenridge cautions that nearby resources do not imply comparable results at Hook-Carter.

Why the Derkson Corridor Work Matters for Greenridge and Denison

This Program Is About Drill Targeting, Not Assay Results

The 2026 work should be seen as an early-stage data collection exercise. Electromagnetic data, soil geochemistry and LiDAR are being combined to identify where a future drill program may be justified along the Derkson Corridor. No assay results are reported, and the company has not yet defined a drill campaign. The most important near-term question is whether the 429 soil samples and SGH data generate coherent anomalies strong enough to support drilling.

Denison's 75% Position Shapes the Risk

Greenridge's interest is non-operating: Denison owns 75% and controls exploration. Greenridge earned its 25% stake after completing a $3 million spending commitment in the first half of 2026. That means Greenridge shareholders are exposed to exploration outcomes but do not control pace, budgets or technical decisions.

Historical Results Are a Guide, Not Proof

The 1978 DER-04 hit and the 2004 core review are the basis for the northern Derkson Corridor focus, but Greenridge notes these historical results have not been independently verified by its qualified person. Proximity to NexGen's Arrow and Paladin's Triple R deposits is useful context, yet the company itself cautions that nearby resources do not predict discovery at Hook-Carter.

What Greenridge Investors Can Track Next

  • Watch for the next Greenridge data release covering the 429 soil samples now at Activation Laboratories; no date has been disclosed, but geochemical results are the next concrete exploration milestone.
  • Treat any 2027 drill plan as contingent: the company says the EM, soil geochemistry and LiDAR data will be used to generate targets, not to demonstrate a deposit.
  • Keep Greenridge's 25% non-operating stake in mind: Denison remains the 75% owner and operator, so work programs and decisions sit primarily with Denison.