Rum Jungle Resources (ASX: RUM) is a diversified junior explorer focused on highly prospective land located in Australia's Northern Territory and Queensland. RUM has a diverse exploration portfolio including: Uranium, Potash, Phosphate and Base Metals.
Rum Jungle Resources (ASX: RUM) has defined a Measured Resource of 136 million tonnes at 15.7% P2O5 at its Barrow Creek 1 phosphate deposit in the Northern Territory following an intensive drilling program in 2012.
The Measured Resource provides increased confidence in a substantial mine life producing beneficiated phosphate rock at up to 2 million tonnes per annum.
Besides the Measured Resource, the 1,214 reverse circulation holes totalling 35,757 metres drilling in 2012 have also set a total resource of 238 million tonnes at 14.6% P2O5.
This provides the 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 and due for completion at the end of March 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.
Barrow Creek 1 and Ammaroo 1 are both part of the Ammaroo Phosphate Project, located on the Sandover Highway, 350 kilometres northeast of Alice Springs.
Rum Jungle’s licences are located on the western side of the Georgina Basin, which contains the largest phosphate deposits in Australia.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.