Rum Jungle Resources Limited Lake Hopkins Potash Resource
12.09.2014 | ABN Newswire
Perth, Australia (ABN Newswire) - Rum Jungle Resources Ltd. (ASX:RUM) is pleased to announce a maiden Inferred JORC brine potash resource of 4.5 million tonnes K2SO4 on 100% owned E69/2814 in Western Australia.The Lake Hopkins brine resource further adds to Rum Jungle Resources' sulfate of potash portfolio in Central Australia which includes Lake Mackay South JV (13 Mt -RUM 51%) and Karinga Lakes (8.3Mt -RUM 100%). RUM has two other major salt lake projects under application in Central Australia which are Lake Amadeus (NT) and Lake MacDonald (WA/NT).
The Lake Hopkins resource is based on an industry average porosity value of 0.33, and the drilling of 18 air core drillholes for 382 m in June 2014. The resource extent, inferred potassium grade and source data are presented on Figure 2 in link below.
A brine exploration target for the immediate surrounding tenement E69/3144 also 100% owned by RUM has been estimated at 2.5 to 3.8 million tonnes K2SO4. This exploration target is based on extension of the measured potassium grade and thickness on tenement E69/2814 onto the adjacent tenement E69/3144 (Figure 3). The potential quantity, grade and extent of the exploration target is conceptual in nature. There is insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. No exploration has yet been undertaken on E69/3144.
Rum Jungle Resources may look to increase the size of the brine resource in 2015 through further extensional drilling into E69/3144 and infill drilling, including looking at depth extensions. Petrographic and geochemical analysis of basement rocks indicate a mixture of sandstone and massive gypsum which if fractured or porous should hold additional brine resources.
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About Rum Jungle Resources Limited:
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
www.rumjungleresources.com.au