Greenvale weighs diversification at Alpha
PERTH (miningweekly.com) – ASX-listed Greenvale Energy on Thursday told shareholders that it will undertake an alternative exploration programme at its Alpha oil shale deposit, in Queensland, with the aim of diversifying production from the asset.
Greenvale said a preliminary review of opencut mining and processing options for Alpha had indicated a strategy to produce a diversified range of products, including petroleum, bitumen and active carbon products, which was most likely to offer a commercially viable development pathway.
The junior told shareholders that the Alpha deposit could produce high value bitumen and active carbon, with the potential to deliver high-quality, value-added products through appropriate investment in processing infrastructure, which was in contrast with typical oil shale deposits.
Consultancy firm SRK has recommended a revised exploration programme to supplement conventional core drilling with bulk samples from trenches or costeans. The raw material will then be refined to provide product samples for detailed analysis and study.
An amendment to the exploration work programme prepared by SRK is now being reviewed by the Queensland Department of Natural Resources, Mines and Energy.
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