Quarterly report - Third Quarter 1975

Abstract

During the period ending 30th September 1975, four drill rigs operated continuously on reconnaissance drilling and testing radiometric anomalies and Track Etch anomalies. The Track Etch radon survey programme was commenced during the previous period and was completed during this period. A total of 137 angle and vertical percussion and diamond core drill holes were drilled, totalling 10,341 meters. Of the total, 106 holes were drilled to test the Bigrlyi radiometric anomalies downdip and on a 250m spacing along the 12.5 km. Strike length of the favourable beds in that area. Hole spacing interval was reduced where necessary to straddle mineralised intersections. Thirty two holes intersected uranium and vanadium mineralisation at Birgyli and the considerable amount of geological data that will greatly assist the planning of the 1976 Bigryli programme, as obtained from the reconnaissance holes, is now being evaluated. The most encouraging Bigryli intersections are shown in the tabe in the company report on Page 1 and these will be the subject of further investigation after the summer wet season. Present information suggests several narrow but shallow uranium-vanadium lenses. At the Walbiri prospect some 50kms east of Bigryli, one hole, WPH8 was completed and two others were each precollared to a vertical depth of 100m with a percussion rig in preparation for completion by diamond core drilling. WPH8 was sited to determine the eastern flank of the Walbiri mineralisation and obtained an inersection from 188.0 to 189.5 (1.5 m) assaying 0.097% U3O8 (1.94 lbs short / ton). Of the 25 percussion holes drilled to test Track Etch anomalies at Rinkabeena, Djuburula East and Agamba, no significant radio-actcity was intersected. Queensland Oil Shale - The 1975 drilling program has been completed and cores are being assayed systematically using techniques developed by the US Bureau of Mines and accepted as standard. The results to date show that the oil shale continues to the south of 1974 drill intersections. Southern Pacific Petroleum NL - Reggenate No 1 Well; The testing of a number of gas bearing zones in its Reggente No 1 Well in the Giardinetto Permit onshore Italy has begun. The lower-most zone is a limestone reservoir of which an interval between 1818 to 1826 meters was tested open-hole with packer set at 1804 meters inside the 7 inch casing. A test lasting 9 hours yielded a stabilised flow of 6.3 million cubic feet per day of dry gas through a 3/8' choke. Wellhead flowing pressure stabilised at 1645 psi. No water was recovered. After complete testing of the limestone reservoir, production testing of several gas bearing sands in the overlying Pliocene sequence will be performed. The well will subsequently be completed in the most potential zone.