Maureen Uranium Deposit, QLD
The small Maureen uranium deposit is situated about 45 kilometres north of Georgetown and was discovered by Central Coast Exploration in 1971 using airborne radiometric techniques and a Mining Lease was granted. After ground exploration work in 1973, Getty Mining joined Central Coast in a joint venture in 1974 and Getty took over the project management. From 1974 to 1978 an extensive program of exploration was carried out with mining and metallurgical studies which led to a comprehensive feasibility study using a conventional uranium extraction plant with open pit mining. In 1979 heap leaching testwork was carried out and it was concluded that this was also a practical method of uranium extraction. In total, A$8 million was spent by Central Coast and Getty in this period.
A study completed in 1978 at Maureen, outlined resources of 2,950 tonnes of U3O8 in the measured and indicated categories with a grade of 0.123% U3O8. The bulk of this was included in an open pit designed with a 4.5 to 1 waste to ore stripping ratio. An earlier calculation in 1976, which also included the inferred category, outlined over 3,630 tonnes of U3O8. In addition to uranium the Maureen deposit has a grade of 0.069% molybdenum and 10.7% fluorite (CaF2).
The Maureeen uranium deposit was recently bought on July 3, 1997, by Anaconda Uranium Corporation for $325,000 plus royalties with the geological database was included in the purchase. The final payment was due to be made by January 1, 1998.
In conjunction with the purchase of the Maureen deposit, Anaconda also bought the Newcastle Range deposit, a further 30 km south-east for exploration purposes.
New technical studies have been commenced on feasibility, environmental issues, and resource assessments, with a view to establishing a new mine for uranium export.
However, Anaconda somehow failed to take account of the volatile nature of uranium politics in Australia. With the election of the Beattie Labour government to power in June 1998, they announced their minerals and energy policy, stating that 1 :
"Labor will not grant a mining lease for the purposes of mining uranium in Queensland. Nor will it permit the treatment or processing of uranium in the state."Anaconda were yet to issue a press release or respond in public at this time.
By September 1998, Anaconda had announced plans for a new uranium project in Portugal (the NISA Project, in joint venture with the Portugese government), and said it had not yet made final payment for the Maureen deposit, due January 1, 1998. It was attempting to renegotiate the time schedules, but would not expand further.
However, in late October 1998, they finally announced that they have abandoned all plans to develop the Ben Lomond and Maureen uranium deposits. Interestingly though, the project had been written off on May 31, 1998 - two weeks before the election of the Beattie Labour government. Presumably Cogema (Australia) will retain ownership of the Maureen deposit.
WOOHOO!
Image - Anaconda Uranium Ltd.
Last Updated - November 1, 1998.
1 - UIC Weekly News July 17, 1998.
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