Partial relinquishment report for EL 24716 Patanella Phosphate Project

Abstract

Rum Jungle Resources refers to work on contiguous ELs 24716 and 24724 as the Patanella Phosphate Project which contains the prospect of the same name on EL 24716. An Exploration Target of around 50 to 100 Mt at 10% to 17% P2O5 at a cut off grade of 5% P2O5, and 20 to 50 Mt at 15% to 20% P2O5 at a cut off of 10% P2O5 has been independently estimated at Patanella Prospect. As part of an overall partial reduction of the Patanella titles, fifteen blocks are being voluntarily relinquished from EL 24716, reducing it to 59 blocks. About half of the relinquished area is mapped as economic basement for phosphate. The other half is under Cenozoic cover which is likely to contain local aquifers and would also be subject to flooding of Arthur Creek. A helicopter flyover of the project did not indicate any prospectivity for phosphate or any other commodity in these areas. No on-ground work was conducted on the areas being relinquished and there is little expectation of economically exploitable rock phosphate being present in the area relinquished.