Alpha Torbanite Project, Queensland
Greenvale Energy Limited (ASX: GRV) has reported positive outcomes from its Liquefaction Test Program 5 at the Alpha Torbanite Project in Queensland. The program, conducted by the University of Jordan, aimed to improve the viscosity of bitumen produced from Alpha ore to meet C170 asphalt specifications. The results show strong bitumen recovery and viscosity improvements...."
Project Summary
The Alpha Torbanite Project in central Queensland is one of Australia's two known torbanite deposits. It aims to become a major domestic source of bitumen, reducing reliance on imported heavy crude oils. The project uniquely utilizes geothermal power for sustainable "green" bitumen production. The deposit features two seams, with the lower seam being the primary oil-yielding unit. An updated Mineral Resource Estimate was released on November 13, 2023, highlighting the significant potential of the project.
The project's development strategy includes thorough exploration and evaluation of the torbanite deposit to optimize extraction and production processes. The use of geothermal power is a significant innovation, reducing the project's carbon footprint and aligning with global trends toward sustainable energy solutions. This approach positions the Alpha Torbanite Project as a leader in environmentally friendly bitumen production.
By establishing a domestic source of bitumen, the Alpha Torbanite Project aims to enhance Australia’s energy security and contribute to energy independence. The production of "green" bitumen also aligns with global sustainability goals, making the project economically and environmentally beneficial.