Rum Jungle Uranium Limited (ASX:RUM) Upgrade Of Assay Data Ammaroo Phosphate Discovery
Perth, Nov 18, 2010 AEST (ABN Newswire) - Rum Jungle Uranium Limited (
ASX:RUM) is pleased to provide an update of assay data at Ammaroo Phosphate Discovery (Rum Jungle Uranium Limited earning up to 70%, Aragon Resources Ltd (ASX:AAG) 30%).
HIGH GRADE MINERALIZATION AT SURFACE IN AREA
The Company previously advised it had forwarded over 800 samples of air core drill samples for conventional laboratory assaying. These samples were selected from a 3564 meter air core drilling program at Areas 1, 2 and 3, representing apparent phosphate intersections determined in the field by hand held Niton XRF analyses.
Higher grade intersections were observed in Area 1 in four holes approximately 1km apart in a north/south direction and 0.5 kilometers in an east/west direction and were prioritized for urgent assay. Results from the 40 priority samples have significantly upgraded our field estimates. Sample preparation was carried out by Bureau Veritas Australia Pty Ltd in Darwin and forwarded to their laboratory in Adelaide for final assay by method XRF4A.
THE SIGNIFICANCE OF THESE INTERSECTIONS IS AS FOLLOWS:
1. High grade phosphate occurs only meters from the surface. Many other deposits in the Georgina Basin are buried by 30 to 40 meters of solid strata.
2. Overlying material is unconsolidated sand and alluvium at surface with a few meters of soft weathered siltstone grading into phosphate.
3. The mineralization remains open. According to Niton XRF field assays all surrounding holes contain some mineralization and are currently being check assayed by Bureau Veritas.
4. CaO: P2O5 ratios in all samples are consistently around 1.4, indicating low lime content and a favorable reaction to sulphuric acid to produce superphosphate.
5. This is the closest deposit to the Central Australian Railway yet found in the Georgina Basin (under 100Km). The company will continue its exploration along the ancient Cambrian shoreline in a westward direction closer to infrastructure.
Substantial thicknesses of lower grade phosphate mineralization are also indicated by the hand held Niton XRF field analyzer to continue beneath all the high grade intercepts. For example, the Niton XRF field assay for hole APAC070 indicated mineralization in the order of 16 meters at 17% P2O5 from 13 meters.
A full report will be prepared when all assays are at hand and results are plotted into a data base.
The company plans to obtain all approvals to commence a 200m grid drilling program to establish a resource and define extensions to the mineralization. Drilling will employ a suitable Reverse Circulation drill rig to comply with JORC standard ore reserve definitions.
For the complete Rum Jungle Uranium announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/64222-ASX-RUM-345831.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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