Ammaroo Phosphate Exploration and Company Update
Perth, Feb 17, 2014 AEST (ABN Newswire) - Assay results are still being received for the phase 1 resource drilling of the Ammaroo East area on Central Australian Phosphate (CEN) Arganara tenement EL 24726. All assays are scheduled to be received within the next two weeks, at which time the data will be provided to an independent resource consultant for a combined JORC Resource upgrade of the contiguous Barrow Creek 1 and Arganara deposits which will be combined and extended in both directions and renamed the Ammaroo Phosphate Deposit. A resource upgrade will be compiled and should be announced to the market before the end of March.
In some areas of Ammaroo East, the mineralised thickness is well in excess of the 6-7 m average at Barrow Creek 1/Arganara. This eastern extension will provide significant additional tonnage of phosphate.
Higher grade intervals include:
- 6 m @ 22.9% P2O5 from 34 m in CARC0183
- 3 m @ 20.8% P2O5 from 13 m in CARC141
- 3m @ 19.8% P2O5 from 4 m in CARC130
- 7 m @ 19.7% P2O5 from 24 m in CARC186
- 8 m @ 18.5% P2O5 from 30 m in CARC121
- 7 m @ 18.3% P2O5 from 18 m in CARC144
Thicker phosphate intervals include:
- 25 m @ 11.9% P2O5 from 19 m in CARC203
- 21 m @ 12.2% P2O5 from 11 m in CARC045
- 20 m @ 11.4% P2O5 from 13 m in CARC045
- 18 m @ 13.0% P2O5 from 13 m in CARC074
- 17 m @ 15.4% P2O55 from 32 m in CARC207
- 16 m @ 13.0% P2O5 from 19 m in CARC072
- 15 m @ 14.3% P2O5 from 18 m in CARC156
- 15 m @ 13.0% P2O5 from 22 m in CARC190
- 14 m @ 12.0% P2O5 from 39 m in CARC306
- 14 m @ 12.4% P2O5 from 40 m in CARC307
Note: Intervals include a maximum of 2 m internal dilution below 10% P2O5.
CHINESE BUSINESS DEVELOPMENT
A delegation of Rum Jungle Resources' senior management will be visiting China this week. Part of the visit will include an inspection of an underground phosphate mine in Hubei Province and discussions about potential interest in the Ammaroo Phosphate deposit. The delegation will also meet with senior representatives of CICCC and other State owned enterprises interested in international fertiliser opportunities with respect to the company's potash developments. RUM executives will experience a first hand demonstration of commercial production of potassium sulphate from lake brines by world leaders in this technology, in operations in Northern China.
Table 1. Table of drill hole details. Eastings and Northings are MGA Zone 53 GDA94.
------------------------------------------------------------ Hole_ID Easting Northing From Interval Avg. Comment (m) (m) P2O5%------------------------------------------------------------CARC044 528405 7619994 13 20 11.4 CARC045 528401 7619598 11 21 12.2 CARC072 529196 7620392 19 16 13.0 CARC074 529206 7619592 13 18 13.0 inc. 1m@27.3% CARC121 530401 7618801 30 8 18.5 CARC130 530798 7620391 4 3 19.8 CARC141 531202 7620803 13 3 20.8 CARC144 531201 7619613 18 7 18.3 CARC156 531600 7619589 18 15 14.3 CARC183 532797 7617200 34 6 22.9 inc. 3m@28.7% CARC186 533200 7620395 24 7 19.7 inc. 2m@30.1% CARC190 533204 7618794 22 15 13.0 CARC203 533600 7619607 19 25 15.3 CARC207 533600 7618006 32 17 12.0 CARC306 537600 7617620 39 14 12.1 CARC307 537604 7617212 40 14 13.1 ------------------------------------------------------------
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/76651-ASX-RUM-402119.pdf
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.
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