Quarterly Activities Report Sept 2014
Perth, Oct 30, 2014 AEST (ABN Newswire) - Rum Jungle Resources Limited's (
ASX:RUM) strategic intent is to find, develop and operate fertiliser mineral projects, located in close proximity to existing Central Australian transport infrastructure.
Rum Jungle Resources Ltd has significant resources of both phosphate and potash. The Company's flagship projects, the Ammaroo Phosphate and Karinga Lakes Potash projects are in prefeasibility and scoping study respectively. The company has sufficient cash reserves on deposit to undertake its current medium term strategic objectives.
CORPORATE
- David Muller retired as Managing Director and was appointed Non-Executive Chairman of Rum Jungle Resources on 1 July 2014
- Robert Annells stood down as Chairman and remained as a Non-Executive Director of Rum Jungle Resources on 1 July 2014
- Christopher Tziolis was appointed Managing Director on 1 July 2014
- Investor presentations were made at the RBS Morgans Noosa Mining Conference in July and the Mining the Territory Conference held in Darwin in August
- Cash Balance $8.123 million
HIGHLIGHTS
HEALTH, SAFETY, ENVIRONMENT AND COMMUNITY
- 2,900 incident-free hours were worked at Ammaroo and 980 hours at Karinga Lakes
AMMAROO PHOSPHATE
- The Ammaroo Phosphate project pre-feasibility study was completed and the result was released to the ASX 29 September 2014. The WorleyParsons-managed pre-feasibility study supports the economic potential of the project to be developed as a phosphate rock export operation or for downstream phosphate fertiliser production using proven technologies
- A resource upgrade to the Ammaroo Phosphate Resource was announced just after the Quarter on 6 October and has not changed since. The October upgrade estimated Ammaroo resources at 1.135 billion tonnes P2O5 at an average grade of 14% P2O5 using a 10% cut-off or 2.631 billion tonnes at 10% P2O5 using a 5% P2O5 cut-off
KARINGA LAKES POTASH
- The Karinga Lakes Scoping Study, being conducted by China International Chemical Consulting Corporation (CICCC), was progressed. A progress meeting was held in Beijing during September. Key work streams being completed include resource knowledge and chemistry analytics, evaporation, flotation and sulphate of potash conversion test work enabling design of a brine extraction and salt processing flow sheet. The study is in the process of being handed over to GHD Australia to finalise Australian based capital and operating cost estimates
- Trial trenches on lakes were successfully rehabilitated to demonstrate project sustainability
LAKE MACKAY POTASH JV, WA
- A maiden resource of 13 Mt K2SO4 was announced for the Lake Mackay South JV, of which RUM has 51% of the potash rights
LAKE HOPKINS POTASH, WA
- A new application was lodged to secure the rest of the lake. A maiden resource of 4.5 Mt K2SO4 was announced. Considerable exploration potential remains to be tested
TENNANT EAST PHOSPHATE
- All three Exploration Leases were granted
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-414183.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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