Perth, Australia (ABN Newswire) -
Rum Jungle Resources Ltd.'s (ASX:RUM) 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, focused on the Northern Territory of Australia.
HIGHLIGHTS
CORPORATE
- The company's current primary focus is the progression of a revised strategy that focuses on the development of a small scale, low capital start up to enable the generation of operating cash flows for the company. A small scale low capital start up sulphate of potash development at the Karinga Lakes project is being advanced and the company is conducting early evaluation of the potential for High Purity Quartz from the Dingo Hill silica project.
- Engagement with a number of regional fertiliser industry and financial entities continues with an aim to secure cornerstone project level investment, joint ventures and/or offtake to support the global scale Ammaroo Phosphate project or the evolution of the SOP portfolio of projects.
- The company presented at the Mining the Territory Conference in August and the Resources Rising Stars Conference on the Gold Coast in September. A new investor presentation was released to the ASX on 24 September 2015
- The Company has sufficient cash reserves on deposit to undertake its current near term strategic objectives
- Cash Balance $3.4 million (including secured Term Deposits of $350k)
HEALTH, SAFETY, ENVIRONMENT AND COMMUNITY
- There were no incidents to report in 70 field hours worked on three projects
SULPHATE OF POTASH
- The process of amalgamating all potash titles into a single company name, Territory Potash, continued during the Quarter
- A 2,000 litre evaporation trial of Karinga brine commenced in Alice Springs which will provide potassium salts for the next stage of process test-work associated with a preliminary feasibility level of study for a small scale start-up
- Twelve deeper RC holes will be drilled at Karinga Lakes during November in order to provide an increased level of understanding regarding the depth of brine aquifers and the potential of ground water recharge which may enable an increase in the in-situ brine resource
- Options to engage specific international SOP expertise to support the pending Karinga studies and development are being assessed
- Initial discussions were conducted with Traditional Owners in relation to accessing the Lake MacDonald and Lake Amadeus exploration projects in the Northern Territory and Lake Frome and Lake Torrens in South Australia. The recent Geosciences Australia study into Australia's salt lakes highlighted the potassium potential of all of these lakes based on the surrounding geology.
SILICA (HIGH PURITY QUARTZ)
- Separation and rationalisation of silica tenements from the phosphate tenements continued during the Quarter
- Sacred site clearances of the Dingo Hole silica project were conducted by the Aboriginal Areas Protection Authority (AAPA) during the period. Final clearance certificates are pending. The granting of this certificate which will enable evaluation drilling of the mineralised area to be conducted which will increase the understanding of the deposit from a chemical perspective and enable the selection of a representative sample for further analysis and processing test-work
- First pass assays and processing test work on a composite Dingo Hole sample were conducted by Dorfner Anzaplan in Germany. The results of this first pass test work and the next steps were announced to the ASX on 23 October 2015
OTHER
- Fourteen stream sediment and sediment trap samples were collected and analysed as part of regular environmental monitoring of legacy disturbance around the old Eva uranium mine site which was acquired through the take over of Central Australian Phosphate
To view the full report with tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-432836.pdf
About Rum Jungle Resources Ltd:
Rum Jungle Resources Ltd. (ASX:RUM) 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 increases exposure to additional exploration areas.
Rum Jungle Resources has experienced geological management backed up by a solid financial base to fund exploration budgets.
Contact:
Rum Jungle Resources Ltd.
T: +61-8-8942-0385
F: +61-8-8942-0318
E: info@rumjungleresources.com.au
www.rumjungleresources.com.au
