Realizing Utah’s resources
Combining our HCCO® technology with our oil shale acreage, Red Leaf will be able to produce up to 75,000 barrels a day of net-zero emissions oil – bringing valuable jobs and revenue to the state of Utah.
We hold a 100% working interest in approximately 10,000 acres of State held leases with an option for an additional 6,100 acres. There’s an estimated 700+ million-barrels of recoverable resource with an average strip-to-ore ratio of less than 2:1 on our Seep Ridge, Holliday and McCook Ridge leases.
To optimize recovery and yields, selective mining and dry density-based beneficiation will be used to achieve an expected average processed ore grade of 32 gallons per ton. Mining operations at Seep Ridge will initially focus at outcrop and will progress to areas with higher strip ratios, with cutoff grade to be determined by economic optimization.
By making use of our proprietary HCCO® process on our acreage, Red Leaf plans to realize up to 75,000 barrels per day of blue (or net-zero emissions) oil and rare earth elements from this Utah-sited project.
Employing the company’s oil shale resource in Utah – and utilizing a phased development approach – the first commercial phase of the project is aiming for production of 12,500 barrels per day of oil, with further phases capable of increasing this figure to as much as 75,000 barrels of oil per day.
The first commercial phase of the project is aiming for production of 12,500 barrels per day of oil.
Red Leaf has also recently discovered rare earth elements co-deposited with the oil shale on our leases. REEs have become essential components of a number of essential modern day industries, including the rapidly growing renewable energy sector, electronics & telecommunications, and military applications. The US Federal Government has made establishing domestic rare earth supply chains a strategic priority.
Red Leaf estimates a resource of 3,500 tons of REEs, including 2,000 tons of heavy rare earths in-place in a single mining interval on our Seep Ridge block, with other intervals yet to be characterized. Over 60 square miles are currently available for mining at outcrop and the company is assessing new technologies that will enable low-cost REE extraction and separation.
Mahognany marker ash-fall is rich in REE
Utah is supportive of local businesses and committed to developing natural resources in the state. It has a well-established community and government support initiative to promote long-term employment and economic development as royalties from resource development help finance public education.
In addition to this, our leases provide for year-round access, are located in an oil and gas basin with infrastructure and strong services, and a highly skilled workforce.