Quarterly Activities Report June 2014
Sydney, July 31, 2014 AEST (ABN Newswire) - Rum Jungle Resources Ltd's (
ASX:RUM) strategic intent is to find, develop and operate fertiliser mineral projects, located in close proximity to existing Central Australian transport infrastructure.
Rum Jungle Resources Ltd has significant resources of both phosphate and potash and these flagship projects are in prefeasibility and scoping study respectively. The company has sufficient cash reserves on deposit to undertake its current medium term strategic objectives.
CORPORATE
- R&D incentive of $954,032 received
- Cash Balance $10.2 million
- Senior management attended the International Fertiliser Association Conference held in Sydney during May 2014. This event facilitated the continuation of the global fertiliser industry engagement strategy to that ensure potential development or off-take partners remain engaged and informed of RUM's exploration and development study progress
HIGHLIGHTS
HEALTH, SAFETY, ENVIRONMENT AND COMMUNITY
- 2,868 field hours were worked during the Quarter. One reportable WH&S incident related to equipment used by contractors. There was no risk of injury to personnel and no damage to equipment
AMMAROO PHOSPHATE
- The Ammaroo Phosphate project pre-feasibility study has entered its completion phase. A draft report is expected by mid August and after a period of internal and peer review a final report is expected to be considered by the Board around mid September
- A bulk sample of Ammaroo phosphate rock concentrate was successfully produced at Bureau Veritas labs in Adelaide and sent to Prayon in Belgium for phosphoric acid and downstream phosphate fertiliser production test-work
- Preliminary results from phosphoric acid and downstream phosphate fertiliser production test work are encouraging, particularly the apparent suitability of Ammaroo rock concentrate for wet phosphoric acid production with lower than normal sulphuric acid consumption, high P2O5 yields, acceptable minor element ratios and the apparent reversion of the lead, that exists in some parts of the resource, to the gypsum waste stream
- The more complete understanding of the chemical nature of the rock, the apparent convertibility of the rock to downstream phosphate fertiliser products and the technical and economic understanding that will come from the completion of the PFS study, if positive, will enable more formal engagement with potential off-take partners and potential joint venture partners over the ensuing months in accordance with the Company's strategy
- Notification has been received from the Northern Territory Environmental Protection Authority that, as expected, the Ammaroo phosphate project requires assessment at the level of an Environmental Impact Statement (EIS). Once the EIS terms of reference are received, the environmental approvals process can be advanced as appropriate.
- A new JORC 2012 resource was defined at Ammaroo South
PATANELLA PHOSPHATE
- An independently assessed Exploration Target Statement for the Patanella Phosphate Prospect was announced
KARINGA LAKES POTASH
- The Karinga Lakes Potash Project scoping study continues to progress with a conceptual design of the project expected to be completed by the end of July. It is then intended to engage GHD Australia to review the design and define 'Australianised' capital and operating costs. The target completion date for the scoping study is late September 2014.
- The 2014 work program has been sent to relevant government authorities and is awaiting approvals
- Two new applications have been added in the west, extending the total area in the Karinga Lakes Project to 2,860 km2 and making this project contiguous with the Lake Amadeus Project. The new applications may contain palaeolakes and palaeochannels which could potentially underpin an increase in the resource.
LAKE HOPKINS POTASH
- Heli-drilling operations were undertaken during the Quarter with the objective of defining a maiden JORC resource
To view the full quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-409338.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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