EL 25165 Seventh annual report for period ended 6 November 2013

Abstract

EL 25165 is in the Mary River region, approximately 100 km east-southeast of Darwin. The EL is held 100% by Uranex Limited but is operated by Rum Jungle Resources as part of a joint venture in which Uranex retains uranium rights. Rum Jungle Resources has been exploring EL 25165 principally for gold. During Year 7, four rock chip samples were taken and six RC holes were drilled for 666 m, with a maximum depth of 133 m. Three holes targeted geophysical anomalies. Three were drilled at the historical Donkey Hill gold prospect in the Annaburroo Dome. The Donkey Hill prospect extends onto Rum Jungle Resources' contiguous EL 24468 and three holes were also drilled there. In the opinion of Rum Jungle Resources, the overall results of 2013 drilling have downgraded the gold prospectivity of the Donkey Hill prospect and the Annaburro Dome generally. Drilling of geophysical targets during 2013 also failed to intersect any economic mineralisation. The Rum Jungle Resources/Uranex JV needs to assess their respective commitments to EL 25165.