Quarterly Activities and Cashflow Report
Perth, Jan 31, 2020 AEST (ABN Newswire) - Rumble Resources Ltd (
ASX:RTR) (20Z:FRA) is pleased to provide an update in respect to the Company's activities during the December 2019 quarter. In line with Rumble's strategy of generating and drill testing a pipeline of exploration projects providing multiple opportunities to make world-class discoveries, Rumble drill tested the Earaheedy project resulting in two significant Zn-Pb-Ag discoveries, and also completed drill programs at the Munarra Gully and Western Queen projects, for which it is currently awaiting assays.
Over the coming months Rumble will look to drill test 3 more projects and drill target 2 others providing multiple opportunities for further discoveries that could provide catalysts for a significant re-rating for our shareholders.
Earaheedy Zn-Pb-Ag Project, Wiluna, Western Australia
1. Two significant large-scale sandstone hosted Zn-Pb-Ag discoveries, 23 Jan 2020
Western Queen Au Project, Mt Magnet, Western Australia
2. RC & air core drilling targeting high grade gold - completed, awaiting assays
Munarra Gully Cu-Au-Co Project, Cue, Western Australia
3. E51/1677 air core drilling targeting shallow high-grade cobalt - completed, awaiting assays
4. ELA51/1919 drilling planned, targeting large mafic hosted Cu-Au deposits
Long Lake Ni-Cu-PGE-Co Project, Sudbury, Canada
5. Ground EM drill targeting massive Ni-Cu-PGM type deposits - commenced
Lamil Cu-Au JV Project-AIC Mines, Paterson Province, Western Australia
6. Ground geophysics drill targeting Tier 1 Cu-Au deposits Paterson Province - completed - interpretation commenced to define final drill targets
Braeside/Barramine Zn-Pb-Cu-Ag-V Project, Pilbara, Western Australia
7. Drilling planned on 14 high priority targets that have been identified
Fraser Range Ni-Cu-Au JV Project-IGO, Fraser Range, Western Australia
8. Drilling planned to follow up significant high-grade gold discovery - Fraser Range
Warroo Cu-Zn-Pb-Ag-Au-U-Pt Project, East Pilbara, Western Australia
9. Multiple drill targets defined prospective for VMS, stratiform replacement, intrusive related Cu-Zn-Pb-Ag-Au & Au-U-Pt (unconformity related type) deposits
Corporate
- Strong cash position of $4.32m at end of quarter
- R&D refund of $1.25m received during the quarter
- Successful EIS co-funded drilling grant for $150,000 at Braeside Project
To view the quarterly report, please visit:
https://abnnewswire.net/lnk/C4M2Y7M4
About Rumble Resources Ltd
Rumble Resources Limited (ASX:RTR) (FRA:20Z) is an Australian based exploration company, officially admitted to the ASX on the 1st July 2011. Rumble was established with the aim of adding significant value to its current gold and base metal assets and will continue to look at mineral acquisition opportunities both in Australia and abroad.
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