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Korab operates the Rum Jungle Project in the Northern Territory of Australia. Rum Jungle Project includes Winchester Magnesium Deposit, Geolsec Phosphate Deposit and other prospects.
Winchester Magnesium Deposit (NT)
Winchester magnesium deposit is located next to Geolsec just 30 minutes drive from suburbs of Darwin. Winchester is one of the highest grade magnesite deposits globally averaging 90.4% of MgCO3 and grading up to 99% MgCO3. Winchester mineral resource estimate reported in accordance with JORC Code (2004 edition) is as follows:
| At 40% MgO Cut-Off |
Mass ('000 Tonnes) |
MgCO3 Grade (%) |
MgCO3 Mass ('000 Tonnes) |
MgO Grade (%) |
MgO mass ('000 Tonnes) |
Mg Grade (%) |
Mg Mass ('000 Tonnes) |
| Indicated |
12,200 |
90.1 |
10,998 |
43.1 |
5,258 |
26.0 |
3,172 |
| Inferred |
4,400 |
91.2 |
4,013 |
43.6 |
1,918 |
26.3 |
1,157 |
| Total |
16,600 |
90.4 |
15,011 |
43.2 |
7,177 |
26.1 |
4,329 |
Winchester passed the feasibility study and pilot plant testing stage and is ready to move into development stage.
Rum Jungle Project Other Prospects - NT
Rum Jungle Project contains several cobalt, nickel, copper, gold, silver, zinc, lead. lithium, REE, PGMs. scandium, and other metals anomalies.
Geolsec Phosphate Deposit (NT)
Geolsec phosphate deposit is located on a granted mining lease ML27362 just 70 km south from Darwin. This mineral lease has been sold in August 2024 and is pending settlement. Geolsec is accessible all year round by sealed Batchelor Road. Geolsec is situated in close proximity (10km by sealed road) from Stuart Highway and the transcontinental railway line connecting Darwin with Adelaide (capital of South Australia) and with the national road and rail transport network which links Adelaide with Western Australia, Victoria, New South Wales and Queensland.
Mt Elephant Project - WA
Mt Elephant is an early stage exploration project located in the Ashburton Mineral Field in Western Australia. It consists of a right to acquire exploration licence E08/3560 should it be granted. The primary focus of the project is copper and gold.
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Rum Jungle Project
(Click on picture to enlarge)
Geolsec
Phosphate rock deposit cross section
(Click on picture to enlarge)
Winchester
Winchester magnesium deposit (drilling and blasting)
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