Interesting post hcraboc, many thanks. Would be interested to...

First 8 Last

Share
Profile

Follow
Aussiebum

59 Posts.

9

10/04/24

09:24

Post #: 73270047
Share

Originally posted by hcraboc: ↑

A long time ago back in the last uranium boom around 2006, I met a young geologist working for Cameco.
She was pretty keen on drilling for uranium on Eyre Peninsular. At the time finding any uranium deposit was very theoretical.
Basically the whole of the Eyre Peninsular sits on a large lump of Granite. The Gawler Ranges is a huge pile of source rocks.
As the slightly radioactive granite weathers highly soluble uranium is released from the slightly acidic rain water and flows down the rivers and streams, and through the ground water. Hence you will hear them talk about paleochannels or ancient rivers. So what they are looking for is ancient river sand that has had the dissolved uranium seeping through it for thousands of years. But the sand alone will not contain enough uranium. Something needs to bring the uranium out of solution and allow it to build up in one spot and not dissolve again.
You need a magic ingredient that starts an oxidation reaction, to release the uranium from the water and to leave it in place.
So if you know where the magic ingredient is already, finding uranium in a paleochannel becomes a much easier task.
At Beverley and Honeymoon two of South Australia's operating uranium mines they found the paleochannels first, and then went looking for the magic ingredient. Alligator Energy is different they found the magic ingredient first and then went looking for the paleochannel. Actually let the truth be known the magic ingredient was already sticking out of the ground for anybody to see! The Magic ingredient is Carbon, or Graphite.
The geological theory was with the Gawler Ranges source rock, as the granite weathered the uranium bearing water would hit the carbon rich layers and be deposited where the water meets the carbon/graphite of eastern Eyre Peninsular. This very theory is how Alligator Energy discovered their deposit. At some point in time Cameco lost interest and stopped funding uranium exploration in Australia and on Eyre Peninsular. Lincoln picked up some of their better tenements on Eyre Peninsular. The same young geologist that was looking for Graphite for Cameco is now the head geologist for Alligator Energy. This is very prospective ground for Uranium and being only 40km from what could be South Australia's next uranium mine. This is not just a folly, there are real opportunities here for a large discovery. We know we have an active paleochannel, and carbon for it to accumulate on, and we have some good U numbers to prove the whole process of forming a uranium deposit has worked.. While we can all look with jealousy at Alligator Energy, Lincoln Minerals can easily have a deposit like theirs lurking beneath the cover. we just haven't done the work required.

Expand

Interesting post hcraboc, many thanks. Would be interested to know your thoughts on the quality of the deposit, however. 570ppm does not seem particularly impressive, World Nuclear Association states most operating U mines have average grades >1000ppm (https://world-nuclear.org/information-library/nuclear-fuel-cycle/mining-of-uranium/uranium-mining-overview.aspx - yes been doing some seriously in depth dd.....!).

LML Price at posting: 0.7¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

NUZ

This stock is crafting a cure for Huntington's – and it's making progress

Monday's HotCopper trends: 4DS falls short, $30B bid for Santos | June 16, 2025

RC1

Redcastle teams up with Terra Mining to get revenue flowing at Redcastle Reef, Queen Alexandra projects

ASX Market Close: Index treads water as Energy stocks surge | Monday June 16, 2025

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

First 8 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last 0.5¢		Change 0.000(0.00%)		Mkt cap ! $9.461M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.5¢	$4.155K	893.7K

Buyers (Bids)

No.	Vol.	Price($)
25	17605318	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.5¢	16541671	11

View Market Depth

No.	Vol.	Price($)
25	17605318	0.004
15	10552249	0.003
8	11499980	0.002
5	13799980	0.001
0	0	0.000

Price($)	Vol.	No.
0.005	16541671	11
0.006	8298482	10
0.007	8260826	7
0.008	2138551	3
0.009	4293174	3

Last trade - 14.37pm 16/06/2025 (20 minute delay)

LML (ASX) Chart

Interesting post hcraboc, many thanks. Would be interested to...

This stock is crafting a cure for Huntington's – and it's making progress

Monday's HotCopper trends: 4DS falls short, $30B bid for Santos | June 16, 2025

Redcastle teams up with Terra Mining to get revenue flowing at Redcastle Reef, Queen Alexandra projects

ASX Market Close: Index treads water as Energy stocks surge | Monday June 16, 2025

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Interesting post hcraboc, many thanks. Would be interested to...

Top Stories

This stock is crafting a cure for Huntington's – and it's making progress

Monday's HotCopper trends: 4DS falls short, $30B bid for Santos | June 16, 2025

Redcastle teams up with Terra Mining to get revenue flowing at Redcastle Reef, Queen Alexandra projects

ASX Market Close: Index treads water as Energy stocks surge | Monday June 16, 2025

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News