ammaroo phosphate project

This is an extract from a RUM presentation which I found interesting. Aragon to earn 40%. Drilling to commence mid-october!

Joint Venture between Rum Jungle Uranium Ltd and Aragon Resources Ltd
over three granted ELs (25183, 25184, 25185).
RUM has applied for two ELAs to the south of the project area.
RUM to spend $3 million over 5 years to earn 60%.
Rum to spend and extra $2 million over 2 years to earn a further 10%.
Aragon have the right to contribute their 40% after stage 1 if they wish.
Ammaroo Phosphate Project
Joint Venture signed on July 1, 2010.
6000m Air Core drilling program to commence in mid October 2010.
Exploration Agreement between Aragon and the Central Land Council already in
place.
Phosphate originally found by VAM drilling in 1968:
3m @ 22% P205 from 25m
10m @15% P205 from 37m
No further drilling until Aragon in 2009:
19m @ 11% P2O5 from 35m
13m @ 14.2% P2O5 from 23m
20m @ 16.7% P2O5 from 34m
11m @ 12.2% P205 from 24m