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Alpha Torbanite Project

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Roboto

Rare, high value torbanite deposit located in central Queensland, 500km west of Rockhamption

One of only two known torbanite deposits in Australia

Potential to become a key domestic source of bitumen (almost all of Australia's supply is imported)

Development strategy based on the use of renewable power (geothermal) offset to deliver carbon neutral bitumen 

Opportunity to replace the current use of imported heavy crude oils in the Australian bitumen market

An Organic-rich sedimentary rock formed in a lacustrine (lake)environment

Torbanite is an olive-black  rock containing >5 vol% Liptinite of which Alginite (derived from algae related to Botryococcus) is most abundant.

Extremely rich in Hydrocarbons – and Alpha is one on the highest yielding oil shales globally.

Considerable advancements in initial process plant design based on results from liquefaction test programs 1-4

Stage 1 Production Target: 100,000 tonnes of bitumen and blended products p.a. and stage 2 will double the production to 200,000 tonnes p.a.

Mine Life: Estimated 20 years, based on preliminary assessments.

Operational Efficiencies: Simplified ore extraction, ore blending capabilities, low moisture content requiring no additional drying, and cost-effective construction and operation.

Environmental Sustainability: Early separation of asphaltenes, energy recovery, recycling of oils, and treatment processes to minimise environmental
impact

The projected mine life of 20 years is based on preliminary assessments only and this could be further extended or expansion via an additional Train 3 could be contemplated if further exploration of the known 10km strike length and further metallurgical test work justifies it.

The Alpha Torbanite deposit consists of two seams namely an Upper and Lower seam which sit at the base of the Colinlea Sandstone. The Lower seam is equivalent to the ‘E’ seam within the Colinlea Sandstone within the Galilee Basin. Seam structure of the deposit is simple with the two seams – the Upper and Lower seam – with an average interburden of 16 m. The interval between the two seams is dominantly quartzose to lithic sandstone with minor conglomerate, siltstone and claystone (Figure 1). The Upper Seam is classified as a cannel coal and has an average thickness of ~1 m and the Lower Seam has an average thickness of ~2 m. The lower seam is the main oil-yielding unit of the deposit. It consists of two main types of oil shale namely cannel coal and torbanite, which is olive-grey to olive-black and is finely laminated. The torbanite is lenticular in shape and has a variable thickness.

The Lower Seam can generally be split into three plies, as described below: 

 L1 – comprising a relatively clean cannel coal interval 

LT – comprising the main torbanite interval, including coal bands

L2 – comprising a relatively clean cannel coal interval.

Mineral Resource Estimate