First annual report for EL 27129 Stoney Dam period ended 17 August 2010

Abstract

EL 27129 is located 35km north of Tennant Creek. The tenement area containing 34 subblocks was pegged to explore for IOCGU mineralisation and unconformity type uranium mineralisation. EL 27129 is 100% owned and is part of Rum Jungle's Tenant 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 1500 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 a ground gravity surveys were conducted by Atlas Geophysics over three grids on a 50m x 50m grid spacing with a total of 914 stations collected. Four rock chip samples were taken with no interesting results. A LAG sampling program was conducted in June 2010 over GRID 2 with 78 samples taken. Statistically significant results were found at; EL 27129 GRID 2 - Au 12ppb, Sb 12ppm, Bi 2ppm.