Quarterly Activities Report
Darwin, Oct 30, 2012 AEST (ABN Newswire) - Rum Jungle Resources Limited (
ASX:RUM) aims to become a dominant Australian fertiliser mineral company and is the only exploration company with significant resources of both phosphate and potash in Australia.
PHOSPHATE
- Resource infill and extensional drilling has been completed at Barrow Creek 1. In all during 2012, 1,192 RC holes were completed for 35,094 m. Barrow Creek 1 is now one of the most intensively drilled rock phosphate deposits in Australia. The close-spaced grid drilling at 100 m x 100 m and 50 m x 50 m centres should be sufficient for Indicated and Measured Resource status under JORC.
- New phosphate leads to the immediate north and northwest of Barrow Creek 1 resource.
- Southern extensional resource drilling was completed at Ammaroo 1. Thirty holes were drilled for 1,262 m during the quarter with some encouraging phosphate intersections. Assays are pending.
- Exploration drilling was completed at Murray Downs; 131 air core holes were drilled for 6,442 m.
- A scoping study has been initiated by Arccon Mining Services to develop a viable processing route.
POTASH
- Air core drilling and water bore installation was completed at Karinga Creek.
- Twenty-four hour pump testing was completed on ten selected bores. There was no decline in flow rate and there was no significant change to brine geochemistry over that period, confirming the viability of brine extraction, at least at that scale.
- Karinga Creek Potash brine resource upgrade is expected within a week.
- Bulk brine sample sent to MWH Global, world leaders in wet infrastructure based in Sydney, to develop a processing route for viable mineral production.
GOLD, BASE METALS and URANIUM
- Rock chips up to 61.2 g/t gold and 9 g/t silver in the same sample were recorded from the Donkey Hill prospect under a new joint venture agreement with Uranex Ltd.
- RC drill program for gold, base metals and uranium was completed at Ross River. Assays results from the program are pending. Further work will focus in the east on IOCG terrain adjoining Mithril's Illogwa Prospects.
- RC drill program for uranium was completed at Mount Bundey.
- Air core drill program for gold was completed at Mount Goyder; Anomaly 7 was downgraded.
CORPORATE
- Subsequent to the end of quarter, the company has announced two key additions to the board and management team as the company positions itself for development at its two fertiliser projects:
- Mr Jeff Landels was appointed to the Board as non-executive Director.
- Mr Chris Tziolis was appointed to the senior management team as Director of Project Development.
View the full report at:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-381360.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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