Rum Jungle Uranium Limited (ASX:RUM) Exploration Update 30th November 2010
Perth, Nov 30, 2010 AEST (ABN Newswire) - Rum Jungle Uranium Limited (
ASX:RUM) is pleased to provide exploration update ended 30th November 2010.
Phosphate Ammaroo - Barrow Creek NT (RUM earning 70% from Aragon Resources Ltd)
Amdel Laboratories have advised all assays will be in hand this week so that a complete update of Area 1 Mineralization (now referred to as Barrow Creek 1) can be released next week. The laboratory has had to make some changes in being able to facilitate our needs for large numbers of phosphate assays.
Karinga Creek Potash (RUM 50%-RWD 50%)
During the month an Air Core drilling program was completed at Karinga Creek Potash where 28 holes were completed for 1298m at an average depth of 46m on EL25080.Twenty water samples were collected and have been submitted for assay along with seven samples collected from previous drilling on EL24987. An Aboriginal Areas Protection Authority (AAPA) survey was also conducted over two of three areas as part of an Authority Certificate for the project. A final copy of the certificate is awaited which will clarify exact locations of known sacred sites for the company to work around.
Drilling has been successful and confirmed the following:
- Near lake brines have been intersected up to 200m away from lake edges at shallow depths
- A number of salt water aquifers have been identified
- Potential fresh water aquifers have been found for use during mineral processing
Three-four trench sites have been selected for pump flow testing during December. These trenches will be pump flow tested in coming weeks to determine recharge rates with this program having been approved by the Department of Resources. This is a critical next step in determining the viability of the project ahead of helicopter assisted Vibracore brine resource drilling of key lakes which is scheduled for March-April next year to determine an inferred brine resource for the project.
The Joint Venture has been approached by two international companies interested in the project offering to provide technology for mineral processing and an Australian consortium is also interested in the project. The Joint Venture is well funded and has made no decisions yet and will continue with planned exploration.
Company geologists also inspected a newly granted tenement at Wollunga Well (EL27933 -RUM 100%) which is located on Angas Downs Station on Lurritja Road about 80km north of the Karinga Creek salt lakes. This tenement contains an older salt lake system which is no longer active with surface outcrops of gypsum mounds in open flats. RUM is hoping either the potassium salts have crystallised out to rock or the potassium salts are still dissolved in subsurface brine. A meeting is planned with Traditional Owners next year to discuss a proposed Air Core drilling exploration program.
Mount Bundy and Tennant Creek RC Drilling
Drilling at Mount Bundy has been extended to an additional two fence lines of angled RC drilling following two substantial uranium intercepts in adjoining holes at Anniversary Breccia West, not previously drilled. Samples are being submitted for assay. The mineralization occurs within graphitic shales up to 75 meters depth and extending over good widths as determined by hand-held XRF and scintillometer readings. Further information will be available after completion of drilling and all assays are at hand. RC Drilling at Tennant Creek was scheduled to commence on November 30, 2010 but has been delayed due to wet weather.
About Verdant Minerals Ltd
Verdant Minerals Ltd's (ASX:VRM) strategic intent is to create shareholder value through the discovery, development and operation of fertiliser and industrial mineral projects, located in close proximity to existing transport infrastructure, with a primary focus on the Northern Territory of Australia.
| ||
|
