Rum Jungle Resources Limited (ASX:RUM) Completed Purchase Of Territory Phosphate Pty Limited From Aragon Resources Limited (ASX:AAG)
Perth, Feb 9, 2011 AEST (ABN Newswire) - Rum Jungle Resources Ltd (
ASX:RUM) ("RUM") advises that it has completed the purchase of 100% of the issued capital of Territory Phosphate Pty Ltd from Aragon Resources Ltd (ASX:AAG) for a total consideration for A$1,000,000.00 cash and 16 million fully paid ordinary shares of RUM.
RUM now holds 100% interest in all tenements which, collectively, make up its Ammaroo Phosphate Project located in the Georgina Basin, south east of Tennant Creek and 80km east of the Adelaide-Darwin Railway line.
EXPLORATION UPDATE AMMAROO PHOSPHATE PROJECT
The area has been inundated with heavy rain following the recent cyclone, but remains accessible. Field crews are currently being mobilised to the Barrow Creek 1 area to commence line clearing for drill access. Drilling is still scheduled to commence early March.
About Verdant Minerals Ltd
Verdant Minerals Ltd's (ASX:VRM) strategic intent is to create shareholder value through the discovery, development and operation of fertiliser and industrial mineral projects, located in close proximity to existing transport infrastructure, with a primary focus on the Northern Territory of Australia.
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