WA miner Korab is looking at reviving the NT’s Rum Jungle precinct

A once famous NT uranium precinct could be revived as an explorer looks to plumb its other riches. Read what’s planned.

The Northern Territory’s Rum Jungle precinct could be revived as WA miner Korab begins resource asset surveys over the famous Top End site.

Western Australian miner Korab will begin helicopter surveys of its main Territory field to determine the extent of mineral assets at one of the Top End’s most famous mining precincts.

Korab announced Wednesday it would begin a helicopter assisted infill ground gravity survey at its Rum Jungle project over the next few months, breathing life into the old uranium mining precinct.

The company said the survey would consist of 320 stations spaced between 250m and 500m and will cover “several” silver, gold, zinc, lead, nickel, magnesium and copper prospects identified using data amassed over the past seven years.

Korab’s high resolution ground activity survey will be undertaken in conjunction with the low resolution survey being conducted by the NT Geological Survey in coming months, which will save the contractor mobilisation costs.

The Rum Jungle precinct is an established resource site.

This means the ground gravity survey data from both surveys will be complemented by low-resolution historical aerial gravity data. WA-based Atlas Geophysics will run the surveys.

ASX listed Korab Resources is an international mining and exploration company with operations in Australia and Europe, which has already identified the Winchester magnesium deposit, the Geolsec phosphate and rare earth deposit and the Sundance gold project, all near Batchelor.

In 2022 the company announced the war in Ukraine meant it would step back from operations in that country and concentrate on developing its Northern Territory assets.

Korab’s website said the Winchester prospect was “one of the best located” magnesium deposits in the world, given its proximity to a major highway an hour’s drive from Darwin Port.

Survey results released in March 2022 identified high purity magnesium metal with a possible extraction rate of 50,000 tonnes per year for 15 years. The study showed that Winchester has a net present value of $1bn.

Rum Jungle 10 years after its 1971 shutdown.

Rum Jungle covers approximately 243 square kilometres and the mineral field is part of the Pine Creek Orogen.

The announcement delivered an immediate boost to Korab’s stock price, surging 28.5 per cent on Thursday to 90 cents.

Korab’s project will be one of a number of resource precinct revitalisations currently under way in the Territory.

Australian company, the Reforme Group last year partnered with Nevada-based M2i Global Incorporated to form The Quadrangle Project for beneficiation of old mine sites and for fresh exploration at abandoned Territory assets.

And this month Tennant Mining showcased their Barkly rehabilitation project, starting with construction of a processing plant at Noble’s Nob gold mine, about 14km from the town.