Ann: Outstanding Torbanite Yields at Alpha, page-2

ASX ANNOUNCEMENT 08 December 2021
OUTSTANDING TORBANITE YIELDS CONFIRM
STRONG COMMERCIAL POTENTIAL AT ALPHA
Modified Fischer Assay (MFA) results confirm high-yielding nature of the
unique Alpha Torbanite Project, with results well above historical reports
Highlights:
• Excellent results received from Modified Fischer Assay (MFA) performed
by ALS, supporting Greenvale’s commercialisation strategy.
• Results confirm the high-yielding nature of the lower seam at the Alpha
Torbanite Deposit:
• Torbanite Ply oil yields of between 290ltrs and 698ltrs per tonne; and
• Upper and lower Cannel Coal ply oil yield of between 123ltrs and
206ltrs per tonne.
• Results exceed the previously reported oil yield of up to 650ltrs per tonne.
• Length weighted average oil yield of between 225ltrs and 355ltrs per
tonne for the lower seam.
• These results rank Alpha amongst the highest-yielding oil shale deposits
globally.
• Work is well advanced on the maiden JORC Mineral Resource for Alpha,
which is expected to be completed in the coming weeks.
Greenvale Mining Limited (ASX: GRV, “Greenvale” or “the Company” is pleased to advise
that it has received highly encouraging results from recently completed test-work on core
samples from its flagship Alpha Torbanite Project in Queensland.
Preliminary results received from the MFA performed by ALS Laboratories, have confirmed
the unique, high-yielding nature of the Alpha Torbanite Deposit.
The results have improved significantly on the previously reported, un-verified historical oil
yield ranges published for the Alpha Torbanite Deposit, increasing the Company’s confidence
in the commercial exploitability of the project and demonstrating that the Alpha Project ranks
amongst the highest-yielding oil shale deposits in the world.
The MFA results have exceeded the Company’s expectations, providing further support for
the commercialisation pathway announced in September (see ASX release, 22 September