Annual report on Rum Jungle period ending 28-09-1987 to 27-09-1988.

Abstract

Exploration Licence 4378, covering an area of 17 blocks (55km2), was granted on 28 September 1983 to Uranerz Australia Pty Ltd (UAL) and Mines Administration Pty Ltd (Minad). In June 1983 CSR Minerals took Minad over and the joint venture is now formally with CSR Minerals. Early in 1988 CSR.Minerals announced it was selling all its mineral interests and currently UAL is in the process of acquering 100% in this property. The area was previously held under EL 1298 and worked under a joint venture agreement. Much of the exploration activity was focussed on the Kylie mineralized zone and its extensions, which comprises most of the licence area. No field work was done during the fifth year of tenure. Efforts are being made to attract a third joint venture partner however, these efforts have remained at a standstill until the matter of CRA's position in this joint venture is fully resolved.