First annual report for EL 27128 Three Ways period ended 17 August 2010

Abstract

EL 27128 is located 30km north of Tennant Creek, and covers both sides of the Stuart Highway on Phillip Creek Station. The tenement area contains 62 sub-blocks and was pegged to explore for IOCGU mineralisation and unconformity type uranium mineralisation. EL 27128 is 100% owned by Rum jungle Uranium Ltd and is part of Rum Jungle's Tennant Creek Project which consists of ten granted tenements. RJU is exploring for uranium, gold and copper in the Tennant Creek area. During the reporting period, 2277 line km of airborne geophysics (magnetics and radiometrics) were flown at 100m line spacing in a north south orientation at 30m flying height by UTS Geophysics. In May 2010 two ground gravity surveys were completed by Atlas Geophysics on EL 27128 with a total of 777 stations collected on a 50m x 50m grid pattern. A Soil/LAG sampling program was conducted in June over the two surveyed areas, including a third soil grid that was orientated over a uranium radiometric anomaly. In all 7 rock chip samples, 50 soil samples and 156 lag samples were collected during the year.