Exploration Update - Three Drill Programs Completed
Perth, April 14, 2020 AEST (ABN Newswire) - Rumble Resources Limited (
ASX:RTR) (20Z:FRA) is pleased to provide an update on its exploration activities. In line with Rumble's strategy of generating and drill testing a pipeline of exploration projects capable of high-grade world-class discoveries, Rumble has completed drill programs on the Western Queen, Earaheedy and Munarra Gully projects.
Rumble will announce exploration results upon receipt of assay results and completion of analysis.
Managing Director, Mr. Shane Sikora said: "Rumble had an amazing start to 2020 announcing a high grade 6m @ 34.24 g/t gold discovery at the Western Queen Project, a 7km large scale copper-gold system discovery at the Munarra Gully Project and two large scale Zn-Pb-Ag discoveries at the Earaheedy Project, all located in Western Australia.
"Rumble fast tracked exploration following up these discoveries with three (3) exciting drill programs, which have now been completed and results are pending. These impending results along with the drill targets recently announced by our JV partner AIC Mines at the Lamil Project in the Paterson Province provide shareholders with multiple near-term opportunities for a significant re-rating.
"The Rumble board is closely monitoring the ongoing Covid-19 outbreak and has developed clear strategies on various scenarios. The Company is in a fortunate position of having a strong cash balance, all planned exploration completed, and all its projects located in Western Australia. This provides flexibility where we can continue exploration or see through this period of instability, putting the Company in a fantastic position for 2020 and beyond".
Three Drill Programs Completed
1. Western Queen Au Project, Mt Magnet, Western Australia
- Drilling has been completed, designed to test for:
- Further high-grade gold down-plunge extensions (diamond core drilling) to the Western Queen Central high-grade gold deposit.
- Extension of mineralisation (RC drilling) to the north of the Western Queen Central high-grade deposit.
- Extension of mineralisation (RC drilling) north and south of the Western Queen South deposit and confirm mineralisation at the Western Princess Shoot.
- Rumble has provided formal notice to Ramelius Resources' (ASX:RMS) subsidiary Mt Magnet Gold Pty Ltd that it has elected to extend its option at the Western Queen Au Project to 2 February 2021
2. Earaheedy Zn-Pb-Ag Project, Wiluna, Western Australia
- A small RC drill programme has been completed designed to follow up two significant large-scale sandstone hosted Zn-Pb-Ag discoveries made by Rumble in January 2020
3. Munarra Gully Cu-Au-Co Project, Cue, Western Australia
- Maiden RC drill program has been completed designed to confirm historic mineralisation at the Amaryllis Cu-Au Prospect and to evaluate the potential for a large-scale Cu-Au system
Exploration Operations
- Rumble's projects are now all located in Western Australia after providing formal notice it has withdrawn from the option agreements for the Long Lake and Panache Projects in Sudbury, Canada. Mineral exploration is deemed an essential service under current state emergency regulations in Western Australia enabling Rumble to continue exploration activities whilst strictly complying with all Government directives and adhering to strict Company safety guidelines.
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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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