Second annual and final report on EL 28334 Ross River

Abstract

EL 28334 was held 100% by Rum Jungle Resources and was primarily targeting uranium. Initially it was also considered prospective for base metals (principally copper and iron), PGEs, silver, and possibly gold. During the first year of tenure an airborne geophysical survey (mag, rad, DEM) was flown over part of EL 28334 by Daishat Geodetic Surveyors / Aerosystems. This was part of a larger survey of Rum Jungle Resources' contiguous Ross River project titles. In all, 4,864 line km were flown at 100 m line spacing using an R44 helicopter at nominal 40 m height. The processing was undertaken by Baigent Geosciences. All data from Areas 2-4 of the survey were presented in GDF to accompany the year one annual report. EL 28334 was in the southwest corner of this survey and Survey Area A2 covers parts of EL 28334 and EL 24917 (current and retained). The data for all of A2 has been resubmitted to accompany this report with the intention that it can be open-filed. Two uranium channel anomalies, named Mulga Dam 1 and 2 were identified at the northern and southern extremities of EL 28334 respectively. During the first year of tenure, an agreement was reached with the CLC allowing on-ground access to the Ross River Project including EL 28334. Also during year one, both a helicopter and a ground vehicle field reconnaissance were undertaken by Rum Jungle Resources staff, using hand-held instruments and non-destructive testing and assaying. This work was confined to areas of existing access and CLC clearances. The Mulga Dam 1 target, was confirmed by on-ground measurements to straddle the boundary of EL 28334 and EL 24917, but Mulga Dam 2 was downgraded. During year two, a remote sensing study was undertaken in-house and the geophysical data were reprocessed and interpreted by Southern Geoscience. They confirmed the validity of the Mulga Dam 1 uranium anomaly. Mulga Dam 1 was tested with six angled RC holes; three in each EL. The MURC004-006 series on EL 28334, each drilled to in excess of 110 m, failed intersect any significant mineralisation. It was decided to surrender EL 28334 in its entirety.