Just a recap of the 3 projects for ALE, PKT and RMG. A source of Uranium can be found in OIL SHALE as noted in the RMG announcement. It is a possibility RMG could look into OIL SHALE as ALE is investigating the possibility of recovering oil as well as metals in a single mining operation. I will post some findings I have found on the TOOLEBUC FORMATION under this heading.
ALE PROJECT
The Project covers areas where uranium, vanadium and molybdenum (U, V and Mo) dissolved from the weathering Toolebuc Formation oil shale are likely to have concentrated in suitable physical and chemical trap sites. The Toolebuc Formation is a widely distributed and distinctive rock unit that crops out around the northern margin of the Eromanga Basin in Queensland. This formation is known to carry elevated levels of U, V and Mo within bituminous shale (oil shale). The Company will also investigate the possibility of recovering oil as well as metals in a single mining operation.
Should exploration be successful a mining operation designed to recover U, V, Mo and the oil from bituminous oil shale is envisaged. Collectively these commodities are likely to occur with the size and elevated grades required for potential economic ore deposits.
PKT (ADAVALE RESOURCES)
The Springvale tenements cover an area that is prospective for sedimentary uranium mineralization.
The area is also prospective for "mound spring model" precious metal orebodies and several other commodities including rare earths and diamonds.
The Toolebuc formation contains significant uranium vanadium and molybdenum and occurrences of uranium minerals are known in the Project area..
The vanadium and molybdenum in the oxidised Toolebuc Formation have been exploration targets in the past and major Vanadium/ Molybdemum resources are being outlined.
RMG LTD
The Toolebuc Formation in the Project area is essentially flat lying and is enriched in uranium, vanadium, molybdenum and various other metals.
The prospectivity of the project is confirmed by:
•the presence of significant concentrations of both vanadium and uranium in the Toolebuc Formation and in Tertiary calcrete derived from the weathering of the Toolebuc Formation.
•the large amounts of uranium and vanadium that have been eroded and moved through the Hamilton – Georgina River system.
There are three sources of the uranium in the project area.
1) The Toolebuc oil shale;
2) the uranium carried by the waters and sediments of the Georgina and Hamilton rivers which drain the uranium rich Mt Isa block, and;
3) both the alkaline artesian water and the plutonic waters from the basement of the Great
RMG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
