RUM JUNGLE RESOURCES LIMITED - ASX: RUM

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Description

Rum Jungle Resources Ltd is an Australian Securities Exchange listed, diversified junior explorer focused on highly prospective land located in Australia’s Northern Territory and Queensland. A Northern Territory and Queensland focussed mineral explorer with a portfolio including: Uranium, Potash, Phosphate and Base Metals.

Rum Jungle Resources has strategic alliances with other major Northern Territory explorers which increases exposure to additional exploration areas. Rum Jungle Resources has experienced geological management backed up by a solid financial base to fund exploration budgets.

Ammaroo Phosphate (RUM 100%)

The Ammaroo Phosphate project is located on the Sandover Highway 350km north east of Alice Springs and 80-180km west of Barrow Creek. Rum Jungle became operator of the project in 2010 and found immediate success with the discovery of the Barrow Creek 1 phosphate prospect. Phosphate exploration is being conducted under terms of an exploration agreement signed with the Central Land Council and Traditional Owners.

RESOURCE DRILLING BARROW CREEK 1 2011

6m @ 29.6% P2O5 from 15m in hole BCRC148 (incl 5m @ 31.4%)
9m @ 23.8% P2O5 from 12m (incl 4m @ 30.1%) and 2m @ 32.8% from 23m in BCRC149
8m @ 26.1% P2O5 from 20m in hole BCRC335 (incl 5m @ 30.4%)
7m @ 24.2% P2O5 from 15m in hole BRCR094 (incl 2m @ 33.3%)
7m @ 26.4% P2O5 from 10m in hole BCRC081 (incl 1m @ 32.1%)
7m @ 23.5% P2O5 from 9m in hole BCRC077 (incl 2m @ 30.0%)
6m @ 24.2% P2O5 from 11m in hole BCRC071 (incl 2m @ 30.8%)
3m @ 27.6% P2O5 from 13m in hole BCRC070 (incl 2m @ 32.8%)
4m @ 24.1% P2O5 from 15m in hole BCRC088 (incl 1m @ 30.9%)
5m @ 22.8% P2O5 from 16m in hole BCRC111
4m @ 22.8% P2O5 from 11m in hole BCRC336
4m @ 22.6% P2O5 from 11m in hole BCRC073

Karinga Creek Potash - Joint Venture bewteen Rum Jungle Resources Ltd (50%)

The Karinga Creek Potash Project is located between Erldunda and Curtin Springs along the Lasseters Highway approximately 200-300km south west of Alice Springs. The Joint Venture is looking to produce potassium sulphate (K2SO4) or schoenite (potassium magnesium sulphate) via solar evaporation ponds from water pumped out of salt lakes or from the shallow underlying sediments.

Mount Bundy Project

Rum Jungle Uranium Ltd entered into a uranium joint venture with GBS Gold Australia over thirteen exploration tenements surrounding the Tom’s Gully Gold Mine on August 21, 2007. As part of the agreement, RUM would earn 100% uranium rights after spending $500 000 prior to 31 December 2008. RUM must spend a minimum of $200 000 in each calendar year thereafter. In return RUM issued GBS Gold Australia 5 million shares and 5 million share options in the company.

Ross River Project

Exploration in 2010 focussed on the Tommy's Gap copper prospect and also returned a number of promising mineralised targets for uranium, iron ore and copper-nickel-PGE. Granted tenemenmt EL24917 is subject to an exploration agreement signed with the Central Land Council and Traditional Owners in May 2010. Recently found fluorite veins and quartz hematite veins with minor sulphides on ELA28156 which were previously unmapped may provide potential for rare earths and IOCGU mineralisation.

Dajarra Project

The Dajarra project is located 70-100km south of Mount Isa to the immediate north of the small township of Dajarra within the Eastern Creek Volcanic sequence of rocks. The exploration target is albitite hosted Valhalla style uranium mineralisation and IOCGU targets along splay faults off the major Mount Isa Fault. The tenements are expected to be granted in early 2011 and the tenements will then be flown with a magnetic and radiometric geophysical survey.

Tennant Creek Project

The target lithology is the Warramunga Formation which hosts the Tennant Creek goldfield. The unconformity between the Warramunga Province and the overlying Tomkinson Creek Province north of Tennant Creek is a prospective host for unconformity related uranium deposits. A 1500m RC drilling program scheduled for November/December 2010 has been postponed due to wet weather. RUM hopes to complete the program in April 2011. A number of magnetic and gravity targets will be drill tested.

Woolner Project

The Woolner Dome is the third Archean aged granite complex that exists in the Top End. It remains relatively unexplored compared to the other two complexes (i.e. The Rum Jungle complex and the Nanambu-Ranger complex). This is largely because of the Woolner Complex not being exposed at surface, as it is covered by 50m of younger sediments and was only defined in 1980, just prior to the cessation of uranium exploration in Australia.

Mine For

uranium, potash, phosphate, cobalt, copper, cobalt, iron ore, nickel, silver, tungsten

Location of operation(s)

Northern Territory, Queensland

Address

Unit 20 , 90 Frances Bay Drive
STUART PARK, NT, AUSTRALIA

Phone

(61 8) 8942 0385

Email

Website

http://www.rumjungleuranium.com.au

Last Updated

17/5/2011