According to webber1998 :

Richard J Kinch wrote:
Ether Jones writes:

No special prep, no sealers, no nothing - just dump it,
spread it, and roll it down.

For loose gravel, OK.

The OP was trying to improvise some kind of concrete from it.

No, not trying to improvise ANYTHING.

I know what it is, where its from and how it works. I've used it
before and the previous owner put 125' of it on the length of my
driveway leading to my house and parking area. Would you like a photo
of it after over 5 years ??? IT SURE THE HELL ISN'T GRAVEL.

The key to it working is how much asphalt is left, and how badly
it's deteriorated (some of it evaporates, believe it or not).

If it's still "juicy" enough grin, simple compaction will work
if done properly. But mixing it with liquid asphalt will
replenish even real stale asphalt, or applying it with heat
will make it possible to reuse staler asphalt without adding
fresh asphalt.

It's better to avoid taking chances, and use one or the other
to make sure it stays put and doesn't crumble on you.
All the better if it's on a firm packed base. Eg: an
already well-used gravel driveway.

There is road building equipment that drives along, grinds
and picks up asphalt and immediately re-lays it behind.
They do both - add hot tar and heat - the "tar truck" is
ahead of the machine. Then the big rollers come along
and compact it while it's still hot.
--
Chris Lewis, Una confibula non set est
It's not just anyone who gets a Starship Cruiser class named after them.