re: Ann: Heads of Agreement signed with Darwi...
The drilling planned by Rum Jungle Resources Ltd will be focused within the mineralised corridor described above, testing an area approximately 15 km in strike length and 5 km in width, from the Elkedra Road as far east as Limestone Bore (Figure 2). It is planned to drill over 300 holes for in excess of 10,000 metres before the end of the year.
The Central Land Council in the Northern Territory provided the companies with a Clearance Certificate to commence work on Friday 18th October. The companies mobilised a bulldozer to site to commence line clearing immediately, followed by the arrival of two reverse-circulation drill rigs now on site with drilling already commenced.
Figure 2. Purple dots in the Phase 1 polygon denote RC holes planned for the current drilling campaign.
If successful, this drilling could potentially double the size of the inferred resource of the combined Barrow Creek 1 and Arganara deposits. This could elevate the Ammaroo Project to a world-class phosphate resource and potentially one of the largest phosphate deposits in Australia. So much upside for this stock its not funny,POTENTIAL WORLD CLASS DEPOSIT,and they will have this drilled by christmas.Bring on the results i say.
RUM Price at posting:
17.0¢ Sentiment: ST Buy Disclosure: Held
