RAM RESOURCES LTD - ASX: RMR

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Description

Ram Resources Limited is an Australian company, listed on the Australian Securities Exchange (ASX) under the code RMR and RMRO. Our key project is the Motzfeldt multi element (Ta-Nb-REE) project located in Southern Greenland.

Ram holds a majority interest (51%) in the Motzfeldt project and has the right to move to 100% ownership over a number of years. The most advanced target at Motzfeldt is the Aries Prospect which has an established Exploration Target of 200-500 million tonnes of Ta-Nb-REE bearing mineralisation, though more work is required in order to define a JORC resource.

The Motzfeldt project offered immediate exploration targets and we believe it has the potential to become a future world-class multi element project. Greenland is an exciting place from a geological perspective and has the potential to host some very large mineral discoveries. The concept of “giant” deposits has been confirmed by the impressive results of companies such as Greenland Minerals & Energy Ltd and Ironbark Zinc Ltd, who have been working in Greenland for a number of years.

Motzfeldt Project - Greenland

The Motzfeldt Project comprises Exploration Licence 2010/46 and is located in the Gardar Province of Southern Greenland. The project takes its name from Motzfeldt Sø (lake), which lies at the foot of the project.

The Motzfeldt Project is contained within Greenlandic Exploration Licence 2010/46 which comprises 3 adjacent areas totaling some 84 km2 and which is shown in yellow on Figure 2. Most of the detailed exploration work to date, which includes the Aries Prospect, has been carried out in the central area of this licence. Ram has also applied for Exploration Licence 2010/09 (shown in pink on Figure 2) covering an area of approximately 970 km2 and which surrounds the existing Exploration Licence 2010/46. This licence has yet to be granted by the Government of Greenland.

The Aries Prospect has the potential to become a world class bulk tonnage Ta-Nb deposit, with additional potential value add from rare earth credits, though further exploration work is required in order to define a JORC resource.

In 1987 the Greenland-Danish Geological Survey estimated a mineralised zone of 500 million tonnes at Motzfeldt with average grades between 1,320 and 1,480 ppm. Nb and 110-130 ppm. Ta. Within the larger mineralised zone, GEUS identified areas of higher grade at Anomaly 4 (estimated at 30 million tonnes) and Anomaly 5 (estimated at 30 million tonnes) and designated them as priority targets. Subsequent drilling in 2000 and 2010 has confirmed the GUES data.

These target areas are considered to be Exploration Targets according to the JORC Code as there is currently insufficient information to define a Mineral Resource, and it is uncertain if further exploration will result in the determination of a Mineral Resource.

West Australian Projects

Ram Resources Limited is an Australian company with exploration prospects located in the Pilbara region of Western Australia which are prospective for base metals, uranium, and gold. Each of these project areas has had previous exploration work carried out and they are located in a region of Western Australia that includes major mineral finds such as the Telfer Gold Mine, Nifty Copper Mine, and the Kintyre Uranium Project. Whilst they are early stage projects, the Company believes they are highly prospective and the previous work provides encouraging results for further programmes.

Telfer Projects (Gold)

The Company holds two Exploration licences Fallows Field (E45/2727) and the Dome Triangle (E45/2726) which are located near to Newcrest Limited’s Telfer Gold Mine. Telfer is a major underground and open pit gold mining operation which is reported to contain resources of 19.5 million ounces Au and 0.7 million tonnes Cu.

Mine For

copper, gold, lead, uranium, tantalum, niobium, rare earth elements

Location of operation(s)

Western Australia, Greenland

Address

The Park Business Centre, 45 Ventnor Ave
WEST PERTH, WA, Australia

Phone

(61 8) 9389 4422

Email

Website

http://www.ramresources.com.au/

Last Updated

27/01/2011