EL 24917 Final annual and surrender report

Abstract

In May 2007, Rum Jungle Resources Ltd purchased EL 24917 and other ELs from Wasabi in consideration of shares and share options. Rum Jungle Resources Ltd was primarily targeting uranium and base metals (principally copper and iron). PGEs, silver, nickel, gold were considered secondary targets. Several geophysical surveys and numerous rounds of surface sampling were undertaken under Rum Jungle Resources' operatorship. In all for the life on the EL, including areas previously relinquished, 188 rockchip samples and 56 closely-spaced soil samples on three lines have been taken and have their laboratory assays reported here. This includes a few surface samples that plot just over the boundary on the adjacent Rum Jungle Resources EL 28156. Handheld XRF was used extensively during Year 3 of tenure, both in the field and to analyse samples back in the office. These results are considered qualitative only and not given in this report. Prospects on EL 24917 have also been intensively drilled, starting with eight holes at Tommys Gap prospect. In 2008, Year 3 of tenure, thirty RAB holes were drilled for 841 m at the M23 prospect. In Year 7 of tenure, the Cleary Dam Cu-Ni-PGE prospect was tested with two angled RC holes and four more angled RC holes were drilled at Tommys Gap prospect, bringing the total there to 12. No economic mineralisation was intersected. The Mulga Dam 1 uranium target which straddles the boundary of EL 24917 and former EL 28334 was identified on radiometrics acquired for Rum Jungle Resources. This target was drill tested with three RC holes on each EL. No significant mineralisation was intersected on EL 24917 or EL 28334 and no further work was warranted at Mulga Dam 1. In all during the life of EL 24917, including areas previously relinquished, 49 holes were drilled for 2,437 m, averaging 49.7 m deep. A remote sensing study and reinterpretation of geophysical data failed to identify any new leads. The EL was retained into Year 8 and 9 only to complete rehabilitation. This included removal of several truck-loads of rubbish from former operators and prospectors. All rehabilitation and remediation was undertaken as planned in 2013 and completed in the first half of 2014, along with checks of previous rehab. EL 24917 was surrendered in full.