Development work and exploratory diamond drilling at the Adelaide River Uranium Mine showed the presence of an ore shot, known as the Black Lode, which contained about 70 tons per foot depth of ore averaging about 0,5% U308. The shoot was developed to a depth of 200 feet. Most of the developed ore has been stoped and about 3,500 tons of ore from the mine have been treated at Rum Jungle. About 1,500 tons of ore remain broken in stopes but there are no proved ore reserves.
The mineralization is localized by the intersection of shears and beds of sandstone. The evidence suggests that the Black Lode ore shoot continues in depth and that a repetition of the ore shoot is possible. Diamond drilling and development work are recommended.