Annual report AN 23439 (sic A) Rum Jungle Creek South December 2006

Abstract

This area was originally applied for by Compass Resources NL and Guardian Resources Pty. Ltd on 12 November, 2001 being parts of 4 blocks. It was previously a reserve, RO588. The tenement is located approximately 3.5km west of the town of Batchelor, covering the site of the old Rum Jungle Creek South uranium mine (RJCS) and its waste dumps. The tenement was granted as AN23439, effective 14 November, 2005 covering an area of 2.930 square kilometres. The tenement was granted to Compass Resources 90% and Guardian Resources Pty. Ltd. 10%. Compass now effectively owns 100% equity in the tenement following the acquisition of Guardian Resources. Compilation of exploration data into a GIS database commenced. RC drilling of 5 exploration holes was completed, and they were radiometric logged. Assay results and lithology logs are pending.