• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 1 hour Why is Strait of Hormuz the World's Most Important Oil Artery
  • 1 min Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 8 hours Another surprise 'build'
  • 11 hours Struggle For Supremacy: Kremlin Condemns Alleged U.S. Ultimatum To Turkey Over Missile Deal
  • 7 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 4 hours Apple Bid To Buy Tesla in 2013 For $240 a Share
  • 8 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 6 hours California's Oil Industry Collapses Despite Shale Boom
  • 8 hours IMO 2020 could create fierce competition for scarce water resources
  • 8 hours IMO2020 To scrub or not to scrub
  • 16 hours Solar Cheaper than Coal
  • 12 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 9 hours Global Warming Making The Rich Richer
Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

We've Waited 24 Years For This Uranium Opportunity

The opening of one of the world's more intriguing exploration frontiers.

Queensland, Australia.

The state declared itself open for uranium mining last month. Lifting a moratorium that's been in place since 1989.

This a major development for the yellowcake industry. The last time uranium miners were allowed to work Queensland, the results were extremely profitable.

That's because the state hosts the eastern extension of the Mount Isa-Cloncurry belt. Recently an area famous for big copper-gold deposits like Ernest Henry.

But also a prime spot for uranium, back in the day when it wasn't outlawed.

That's because of deposits like Mary Kathleen. The "Mary K" ores were some of the richest for uranium outside of Saskatchewan--running 0.1% to 0.15%. And the deposit was sizeable. Producing nearly 20 million pounds U3O8 before shut down in 1982.

The belt here is also notable because of a deposit at its other, northern end. The Nabarlek uranium mine. Which produced U3O8 at a spectacular 2% grade. Nearly 24 million pounds worth. (You can see the cluster of deposits in north-central Australia in the map below--Mary Kathleen at the southeast end in Queensland, and Nabarlek in the northwest in the Northern Territory.)

Map of Australia

Here's where the potential in Queensland gets really intriguing. The chance to find a look-alike for one of the world's largest uranium deposits: Olympic Dam.

There are noted similarities between the copper mineralization at Olympic Dam in southern Australia and at Ernest Henry in Queensland. Both are large and rich.

But Olympic Dam has something the Queensland deposits lack: uranium.

However, we know there is uranium in the area in Queensland. At stand-alone deposits like Mary Kathleen and Nabarlek.

There's long been speculation that the right environment may exist in Queensland to mineralize both copper and uranium. It appears the two were deposited by differing geologic events. The trick is to find a place where both happened together--creating a super-charged (and super-profitable) deposit like Olympic Dam.

The lifting of the moratorium here gives explorers the chance to run with this hunt. Let's see what the results are.

Here's to a new beginning to an old story,

By. Dave Forest




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News