Partial relinquishment report for EL 29374 Ammaroo Phosphate Project 7 September 2012 to 27 April 2016

Abstract

The Ammaroo Phosphate Project is located 240 km southeast of Tennant Creek. The project area contains the 40 km-long, billion tonne Ammaroo Phosphate deposit, which is currently Australia's largest undeveloped JORC phosphate resource, the satellite Ammaroo South JORC resource, the Rockhole Prospect and significant greenfields potential in the east, including on EL 29374. An updated Ammaroo Phosphate Project prefeasibility has been announced and higher tenure applied for. EL 29374 was originally granted to NuPower Resources Limited on 07 September 2012 over 193 blocks (6,187 km2) for uranium exploration. After Rum Jungle Resources found phosphate nearby, NuPower became Central Australian Phosphate and swapped target commodities. During 2013, Rum Jungle Resources took over Central Australian Phosphate and acquired EL 29374. In 2015, EL 29374 was transferred to another wholly owned subsidiary Territory Phosphate Pty Ltd. EL 29374 is located in the northeastern part of the Ammaroo Phosphate project area held by Territory Phosphate and operated by Rum Jungle Resources. A third voluntary partial relinquishment, this time of 32 blocks, is being made, taking EL 29374 to 125 blocks The relinquished blocks are various combinations of Areas of Conservation Significance, areas sterilised by creeks and rivers, floodouts, shallow aquifers, shallow basement intersected in a waterbore and other small areas of shallow basement or basement outcrop that are not considered prospective for phosphate. There has been no on-ground work what-so-ever on the blocks relinquished.