Rum Jungle has turned it's eye from it's uranium based projects towards potash and phosphate projects in the NT.
With BHP's takeover attempt at Potash Corp, this may be good timing to have a look at RUM.
Potash RUM 50%
During the last quarter 62 brine samples were taken from Karinga Creek salt lakes, with best results 12100mg/l K, 20370mg/l Mg & 57580mg/l sulphate and 8300mg/l K, 10700mg/l Mg & 47800mg/l sulphate.
These figures seem low compared to Orocobre's Salinas Grandes best results of 49720mg/l K, with average results of 16394mg/l K.
It is unclear to me what compound of potash ORE is targeting, but RUM aim to produce Potassium Sulphate, which sells at $1200/t compared to Muriate of Potash $900t, ex Kwinana.
I am unsure how these results collate to deposits of KCl, so any help there would be appreciated. It seems that world class deposits of KCl generally grade around 20-28%KCl.
I do know that 10000mg/l = 1%.
RUM's K percentages alone seem small, but combined with the sulphate changes the equation to a more respectable percentile.
I'm probably batting out of my league here, so maybe a Geo could help with a possible resource percentile?
Phosphate RUM HoA with Aragorn for 60% interest over 5 years with a spend of $3m on the project.
Drilling last year by Aragorn on the Ammaroo Phosphate Project intercepted results of;
19m @ 11.0% P2O5 from 35m
13m @ 14.2% P2O5 from 23m
20m @ 16.7% P2O5 from 34m
11m @ 12.2% P2O5 from 25m
RUM plan to explore the western edge of the tenemant, attempting to bring the resource closer (65km distance) to the established Central Australia Railway Line.
According to Wiki, some scientists believe that "Peak Phosphorus" will occur in 30 years, and at current rate of consumption stocks will be depleted in 50-100 years.
Current SP 7.3c
Shares on Issue 125m
12mth High/Low 15c/4c
Cash at hand $4.7m
Expenses this Quarter $1m
Has recently bounced off lows of around 4c as announcements of potential potash and phosphate deposits have aroused some interest.