Airborne radiometric and magnetic surveys conducted in March 2007 covering 100m grid lines over a 40 km2 area of the western border have recorded uranium and thorium anomalies associated with Palaeoproterozic rocks which will be investigated. 

More information about Uranium...

Diamonds

Geosciences Australia has identified Diamond bearing zones connected to the Cretaceous alluvial systems that cross the Koolgarra tenements.  The DME has also recorded seven occurrences of diamonds associated with alluvial tin operations in the region.  Diamonds may be similar to those found in Northern New South Wales and the Anakie Gem fields of Central Queensland.  Prior to the opening of Australia’s largest diamond mine at Argyle, Western Australia the New South Wales diamonds provided Australia’s major production.  Ninety five percent of Eastern Australian diamonds are unusually hard and of gem quality.  

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Proven Reserves - Silicon/Quartz

In 1994 Boral Pty Ltd contracted Insite Geology Pty. Ltd. to conduct a geological survey to establish reserves of quartz pebbles that have analysed at 98%+ Silica.  The reserve calculations were based on results from 170 test pits for a proven volume of 3,478,200 tonnes of insitu siliceous pebbles.

At the request of Koolgarra, Insite Geology Pty. Ltd. completed a review and update of the original 1994 report on the 14th May 2007. (See 1994 & 2007 Reports).

There is a strong global demand for the highly coloured ornamental silica pebbles in the landscape gardening and building industries. 

There is also an emerging global market for high-grade silica for use in the production of Silicon Metal.  The metal is produced from silica (SiO2).  Silicon is used in the production of solar panels and for silicon chips. Production costs are high, but refined silicon metal is currently priced at near US$50,000 per ton. There is a global shortage of suitable silica for the production of silicon metal.  Future silicon demand is likely to increase exponentially. 

More information about Silica...

Additional Base/Heavy Metal Mineral Deposits

During the late 1990’s Geosciences Australia conducted extensive airborne mapping and radiometric surveys of the North Queensland region. 

The main objective of the project was to identify and record specific regions with either mining operations, proven mineral deposits, or a high probability of specific base metal mineral resources. Geo Sciences identified and then published these results that can be obtained from the MINOCC data base.

Regional mineral occurrences recorded by Geosciences Australia show finds of Uranium, Diamonds, Gold, Nickel, Tin, Copper, Lead, Zinc, Molybdenum, Bismuth, etc., All these have been recorded in the vicinity of the Koolgarra tenements.

Hollis’s 2007 assessment confirms high concentrations of tin, titanium, zircon and rare earth minerals particularly in the paleochannel deposits.  Base metal potential exists but will require further exploration.