Rum Jungle Resources Limited (ASX:RUM) Updates On Ammaroo Phosphate Project
Perth, Dec 21, 2010 AEST (ABN Newswire) - Rum Jungle Resources Limited (
ASX:RUM) is pleased to announce that planning is underway by the company to complete over eleven thousand metres of resource drilling (11,200m) at the Barrow Creek 1 phosphate prospect on EL25184 as well as 2,000m of exploration drilling on EL25184 to the south and further west towards the railway. Exploration plans will be submitted to the NT Department of Resources this week with two drill rigs expected to commence resource drilling on March 1, 2011, weather permitting. The exploration plans also contain plans to excavate two costeans for bulk sampling and metallurgical samples from the shallowest part of the prospect. The plan is to have an inferred/indicated JORC compliant phosphate resource at Barrow Creek 1 before June 2011.
The shallow part of the prospect will be infill drilled at 100m spacing with the deeper areas to the south drilled on a 200m grid. Exploration drilling at 1km and 2km spacing will be carried out to the south and west of Barrow Creek 1 to continue searching for the ancient shoreline and basement highs which may result in shallow phosphate mineralisation. Both the prospect area and exploration area have been cleared by Traditional Owners with two clearance certificates being issued by the Central Land Council.
The directors of RUM are excited about the shallow high grade nature of Barrow Creek 1 with its proximity to the Central Australian Railway and have approved an exploration budget of A$1 million for the first half of 2011 for the Ammaroo Phosphate Project (Rum Jungle earning Up To 70% From Aragon Resources Limited (ASX:AAG)). The Managing Director and Chief Financial Officer last week inspected mineral bulk storage facilities at the Port of Darwin and also met with the Honourable Kon Vatskalis, NT Resources Minister to discuss the potential of the project.
For the complete Rum Jungle Resources announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/64863-ASX-RUM-347832.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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