Measured Resource Update Barrow Creek 1 Phosphate Deposit Ammaroo Phosphate Project
Perth, Jan 21, 2013 AEST (ABN Newswire) - Rum Jungle Resources Limited (
ASX:RUM), during 2012, an intensive resource-drilling program of 1,214 RC holes for 35,757 m was completed at the Barrow Creek 1 phosphate deposit to define a Measured Resource of 136 million tonnes at an average grade of 15.7% at a cut off of 10% P2O5. The total Measured, Indicated and Inferred Resource is 238 million tonnes at an average grade of 14.6% at a cut off of 10% P2O5. These estimates have been provided by an independent geologist and are reported in accordance with the JORC code. The resource estimates are summarised in the following Table, (refer to link below).
To date, 2,071 RC drill holes have been completed within the resource area, with 33 diamond drill holes twinned alongside RC intersections for a total of 61,631 m drilled. The completed drilling is depicted in Figure 1. The closer-spaced drilling is concentrated where the phosphate mineralisation is closest to the surface.
Primary samples from the 2011 and 2012 drill programmes were submitted to AMDEL laboratories in Adelaide for analysis by ICP. Information available to demonstrate the quality of the sampling and assaying includes standards, blanks, duplicates, recovered sample weights and XRF check assaying. The standards assay results and XRF repeats indicate that the ICP P2O5 assays are biased slightly low and for the current estimates, P2O5 assays were multiplied by a factor of 1.03 to compensate for this apparent bias.
Resources were estimated by Ordinary Kriging of one metre down-hole composited assay grades within a mineralised domain capturing continuous intercepts grading greater than 10% P2O5. The mineralised domain covers an area approximately 6.9 kilometres east-west by 5.3 kilometres north-south. The average thickness of the domain is 6.1 metres and it is overlain by with an average of approximately 22 metres of un-mineralised material.
The estimates include a density of 1.7 t/bcm on the basis of 90 immersion density measurements of diamond core samples.
The Measured Resource provides increased confidence in a substantial mine life producing beneficiated phosphate rock at up to 2 million tonnes per annum. This updated resource estimate provides a basis for conceptual mine planning, comprehensive metallurgical test work and process flowsheet development. These are key components of the scoping study that is currently being progressed.
The scoping study is due for completion at the end of March 2013 and will provide the decision basis for proceeding with a pre-feasibility study in the second quarter of 2013. An update on the Ammaroo Phosphate project scoping study will be provided in the December 2012 quarterly report due for release on 31 January 2013.
View the complete Rum Jungle announcement at the link below:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-384854.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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