As mentioned in the AGM presentation they will be conducting exploration for not only uranium but iron ore as well.
Project-Celia (Australia: Uranium)
• In heart of Rum Jungle uranium field • Known uranium targets • Magnesite resource established • Gold occurrences
Project-Daly River (Australia: Iron Ore) • Well-known iron occurrence in NT • Extensive boulders and outcrops • Resources estimated at 126m tons in 1967-8 from 10 hole drill programme • Little follow-up work
Daly River. Among the best known iron ore prospects in the Northern Territory according to Red Rock. A large portion of the area comprises outcropping haematite and although previous wide-spaced shallow drilling has intersected iron ore mineralisation in a number of areas, no follow-up work has been completed.
Project-Hayes Creek South (Australia: Iron Ore) • Undrilled structural corridor on Hayes Creek Fault in NT • Iron-carrying breccia zones exposed over several hundred metres • Exposed cliff of massive haematite • Rock chips up to 57.3% Fe and 37.1% Mg, with up to 15 g/t Au • Possible uranium
The area is a significantly under explored polymetallic target centred on the Hayes Creek fault and possible related splay structures forming structural corridors. In 1969 an iron rich bed was traced over 9.65 km
Project-Marrakai (Australia: Uranium)
• In Rum Jungle Uranium Field • Previous exploration for uranium, gold, base metals • Iron expressions at surface and possible Frances Creek type structure
In 1963 several limonitic ironstone replacement deposits in brecciated zones along limbs and crestal parts of a large NE trending anticline were identified. Limited rock chip sampling gave results at 31% and 35% Fe. A theoretical model based on the Frances Creek iron ore deposits has been posited, indicating the possibility of massive supergene ore bodies with little surface expression. No iron ore exploration has been carried out since the 1960s, but the area has seen exploration in the 1980s and 1990s directed at gold, base metals and uranium.
These two iron ore targets highlight the potential iron ore related upside for RSL, Hayes Creek South with a 9.65km strike with grades already discovered up to 57.3% Fe, and Marrakai a possible Frances Creek target (remember TTY is a $240 million market cap company. But as highlighted above the iron ore prospectivity maybe a very nice surprise if you look at the location of their tennements they are in and around TTY's Frances Creek iron ore mine (Fe grades 63.8%), they could be the benefit of what I guess you could call the nearology effect.
RSL has tennements which surround the currently producing Frances Creek Iron Ore mine in the Northern Territory, owned by Territory Iron(TTY which has a market cap of $240 million plus, and FE grades up to 63.8%)
Project-Woolgni/Edith River (Australia: Gold, Uranium) • Australia and Canada two major uranium exporters • Northern Territory historically important uranium producer • Four uranium projects identified on part of license and explored in 1950s • Disseminated mineralization over wide area • 0.1-0.2% average surface grades • Recommended follow-up never carried out • High grade gold trenching and rock sampling results at different prospects at Woolgni indicating up to 31 g/t gold
Project-Mt Alfred (WA Australia: Uranium)
RSL is targeting shallow uranium occurrences on the Mt Alfred tenement, located in the Yilgarn region. RSL has signed a co-existence agreement with Red Rock Resources to give RSL the uranium exploration rights over the tenement. The target is uranium in near-surface calcrete and in deeper sandy sediments where redox boundaries may occur. Uranerz (Australia) Pty Ltd identified uranium anomalies during shallow auger drilling around the edges of Lake Barlee in 1976, which returned results of up to 150 ppm U3O8.
