Rum Jungle Resources Ltd. - Quarterly Activities Report March 2014
29.04.2014 | ABN Newswire
Darwin - Rum Jungle Resources Ltd.'s (ASX:RUM) strategic intent is to find, develop and operate fertiliser mineral projects, and pursue base metals and gold prospects, located in close proximity to existing Central Australian transport infrastructure.Rum Jungle Resources Ltd. has significant resources of both phosphate and potash and these flagship projects are in prefeasibility and scoping study respectively. The company has sufficient cash reserves on deposit to ensure a timely delivery of its current objectives.
Highlights
- Ammaroo phosphate JORC 2012 resource increased to 1.08 billion tonnes P205 at an average grade of 14% P2O5 using a 10% cut-off or 338 million tonnes at 18% P2O5 using a 15% P2O5 cut-off
- Continued progress of the Ammaroo Phosphate prefeasibility study, in particular the production of rock concentrate products to enable production of a bulk sample, phosphoric acid and DAP/MAP production testing and holistic engagement with the global market during the next quarter
- The completion of baseline environmental studies and development of a Notice of Intent document to enable the commencement of the environmental approval process in April 2014, as per recent announcements
- Upgrade of Karinga Lakes brine potash resource and commencement of the scoping study in conjunction with the China International Chemical Consulting Corporation (CICCC)
- Achievement of 100% ownership of the Karinga Lakes project
- Share Purchase Plan raised $3.27 million in January net of costs
- Cash Balance $11.2 million consolidated
To view complete quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-RUM-405476.pdf
About Rum Jungle Resources Limited:
Valence Industries (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
www.rumjungleresources.com.au