www.bullionmm.com
Bullion Monarch Mining Inc. is a natural resource company that acquires mining properties to explore and develop. Bullion’s goal is to see the properties produce through joint ventures, leases, or sales. Bullion Monarch has recently undergone a reorganization and is now known as Bullion Monarch Mining, Inc. The company’s new trading symbol is BULM. Bullion believes it has excellent mining properties in Northern Nevada and throughout the Western United States. Newmont’s new, large Leeville underground mine and he East Ore Body Mine are currently producing royalty payments to Bullion. The company also acquired a 60% interest in EnShale, Inc. in 2005 (now 80%) in order to profit from the growing demand for oil by mining and processing oil shale into oil products. The Company currently has under lease 4,650 acres of oil shale property in the mahogany zone.
Bullion Monarch’s EnShale completes patent applications for oil shale production method
Bullion Monarch Mining’s (OTC:BULM) oil and gas focused subsidiary EnShale Energy announced that it has now completed the international patent applications for its proprietary shale-oil production method. Patent applications have been filed in Canada, Australia, China, Brazil and Estonia.
The subsidiary has already secured its technology, with patents pending, in the United States - where the largest known oil shale deposits exist.
To date, a pilot plant – funded by Bullion Monarch - provided positive confirmation of the method's ability to produce a quality petroleum product. "We are excited about the progress being made with the pilot plant and the groundswell of recent support the oil shale industry is experiencing," Bullion Monarch chief executive James Morris commented.
Laboratory analysis of this product by gas chromatography determined that most of the liquids were eluted as molecules with C5 to C42 with over 50.34% by C40. The spent shale product that was sampled and analyzed by Horizon Laboratories in Price, Utah showed over 89% of the contained Btu/lb. was successfully converted to oil product.
The next technological milestone for the EnShale pilot plant will be to achieve a sustained processing run as opposed to the less efficient batch processing. An important aspect of EnShale's method of producing oil at a target price under US$30 per barrel is continuous operation of the processing plant.
Oil shale is a sedimentary rock which contains significant amounts of kerogen, a solid mixture of organic chemical compounds. Oil shale can often burn without any processing, but it is more efficient to mine it and then heat it to extract petroleum-like liquids from the kerogen.
EnShale’s ultimate objective is to see that the company becomes a large scale producer of oil from oil shale. It began by acquiring leases on 4,650 acres of state-owned land in Eastern Utah. The land lies on the Green River formation of Wyoming, Colorado and Utah which has by far the largest oil shale resources in the world.
