Annual Report for MLN 578 Cobar II period ending 31 December 2015 Westmoreland Project NT

Abstract

MLN 578 covers the historic Cobar II uranium mine in the remote Westmoreland Uranium Province near the Queensland border. The title has been extant since 1955 and the location and shape of the title has changed over a dozen times. The most recent iteration agreed to by the then DPIFM was in 2010. This makes the area of MLN 578 6.47 hectares. MLN 578 was bought by NuPower in 2008. NuPower drilled seven diamond drill holes for 842.9 m during 2010. One hundred and nineteen samples (including standards, blanks and duplicates) were sent for analysis. The results were generally disappointing. These legacy data were QA/QCed by Rum Jungle Resources and accompany this report in MRT format. Potentially significant mineralisation appears to be confined to a narrow hydrothermal breccia within the Blackwells Shear Zone and much of this has been mined out. There is documented historic production of about 70 tonnes of handpicked ore grading 10.52% U3O8. There is no JORC resource. All work by NuPower as operators has been rehabilitated. NuPower became Central Australian Phosphate which was taken over by Rum Jungle Resources. Access to MLN 578 can be problematic because of poorly or unmaintained tracks into this remote area. Rum Jungle Resources did not undertake any on-ground work on MLN 578 during 2014 or 2015. In fact, the company has not set foot on the ground.