Of course, apart from the bauxite potential, we also have had...

Of course, apart from the bauxite potential, we also have had the exceptionally high U readings, together thorium, in Wally 2 - with further drill results out shortly.

Despite Queensland's ban on uranium mining, I think we may well be sitting on something else in our leases. The Fed Govt is spending $59million on its OESP program that will assess the potential for onshore energy resources such as oil, gas, uranium, thorium and geothermal energy. Check out p2 of following doc -

http://www.dme.qld.gov.au/zone_files/qgmj_2006_sep/article_80.pdf

and

http://www.ga.gov.au/minerals/research/national/thorium/index.jsp - this map shows areas of >50ppm thorium concentration - MKY has readings of 10,000 ppm

Snippets from another report ........
"West of the line between Cairns and the mouth of the Murray River lies a belt of rocks containing the enriched elements uranium, thorium, and potassium that are around 1.5 billion years old. These enriched elements are essentially a heat source located in the upper part of our continental crust.

Our status as one of the most prospective countries in the world for geothermal power generation is due to this extraordinary enrichment in uranium. That's because when we bury these enriched rocks, even beneath only about two or three kilometres of sediment, they're capable of generating extremely high temperatures which we can use to generate geothermal power.

Nuclear power and geothermal power use the same source of fuel – enriched uranium"

We all know AB has been leading the charge into these new areas of energy, thru APEC and Australian Energy....is this what he has planned for MKY?