Drilling of High Grade Zinc, Copper and Lead Targets at Braeside Cleared to Commence
Perth, Nov 9, 2017 AEST (ABN Newswire) - Rumble Resources Ltd (
ASX:RTR) ("Rumble" or "the Company") is pleased to provide an update on the first modern systematic exploration program at the Braeside Project (E45/2032), located in the Pilbara region of Western Australia, which hosts many historic high-grade base metal small-scale mines that produced lead, zinc and silver up until 1959.
Highlights
Stage 4 Exploration - Ground TEM Survey at E45/2032
- 100% Completed
Stage 5 Exploration - Drilling at E45/2032
- Drilling company to mobilise this weekend in preparation for drill program to test high-grade base metal mineralisation and EM conductors, which may represent first order porphyry related VMS targets.
Corporate
- Heavily oversubscribed $4.8m capital raising has been completed with all funds received, putting the Company in an exceptionally strong position with approx. $6mil in bank
Stage 4 Exploration - Ground TEM Survey at E45/2032
A high-powered ground TEM survey has been completed. Rumble will now analyse the data to help optimise drill targeting to provide the best chance to test bedrock conductors for economic concentrations of high grade base metals.
Stage 5 Exploration - Drilling First Order Base Metal Targets
Rumble has successfully completed the native title survey which has been cleared for drilling.
The earthworks company will mobilise to site for Friday the 10th of November to commence preparing the drill pads ready for the drilling contractor Strike Drilling.
Strike Drilling is scheduled mobilise to site over the weekend (11th or 12th November) in preparation for the Stage 5 drill testing of the first order VMS targets.
Rumble is optimizing the numerous drill targets which will be a combination of conductors and mineralised geological structures coincident with identified high grade regional metals trends and high grade base metal rock chips. Rumble will provide an update to the market of the planned program and final drill targets once finalised.
Please refer to Rumble's ASX announcements dated 16 October 2017 for further details in respect of the numerous High-Grade Zn - Pb - Cu - Ag - Au - V targets identified at the Braeside Project.
Corporate
The $4.8m capital raising has been completed with all funds received, subject to shareholder approval of director participation. With approximately $6M in the bank post this transaction, the Company is in an exceptionally strong position to fast track any exploration success seen in this current drill program at Braeside, while simultaneously commencing a works program over the high-grade Barramine Cu-Pb-Zn-Ag project and high-grade Earaheedy Zn project in Western Australia, along with reviewing potential new project acquisitions.
Systematic Exploration Process of High Grade Zn - Pb - Cu - Ag - Au - V at the Braeside Project (E45-2032)
The Braeside Project E45-2032 consists of multiple high-grade zinc, lead, copper and silver deposits and occurrences associated with north to northwest trending fault fracture zones within mafic volcanics and volcaniclastics over a strike of at least 60 km. The poly-metallic mineralisation has not been tested by detailed geophysics, geochemistry and very limited drilling with only 10 known historic drill holes in 1928 and 1951.
High grade grab sampling assays have returned up to 29.31% Zn, 79% Pb, 17.48% Cu, 325 g/t Ag,13 g/t Au and V 1.03% along 30km of strike within a potential 60km strike system.
Rumble's exploration program is the first modern systematic exploration program being undertaken at the Braeside High Grade Zinc - Lead Project.
Recent litho-geochemistry completed by Rumble suggests the mineralisation is associated with sub volcanic rhyolitic porphyry (Koongaling Felsic Volcanics) indicating potential for a VMS system capable of hosting a large base metal deposit.
Rumble's technical team lead by Technical Director Mr Brett Keillor is systematically exploring the Braeside Project generating first order VMS feeder pipe targets using proven, modern exploration techniques.
Rumble is fully funded to complete all stages of exploration including the stage 5 drill testing.
Stage 1
Exploration Activity: Regional soil geochemistry (multi-element) to cover Braeside Project Area
Progress: 100% Completed
Stage 2
Exploration Activity: Fly Airborne VTEM
Progress : 100% Completed
Stage 3
Exploration Activity: Infill geochemistry over metal trends and conductors generated by VTEM in Stage 2 to help rank key drill targets
Progress: 100 % Completed
Stage 4
Exploration Activity: Ground TEM surveys over the identified VTEM conductors and high-grade base metal mineralization
Progress: 100% Completed
Stage 5
Exploration Activity: Drill test conductive plates and high-grade base metal mineralization
Progress: The drilling contractor is scheduled mobilise to site over the weekend (11th or 12th November) in preparation for the Stage 5 drill testing of the first order VMS targets
To view tables and figures, please visit:
http://abnnewswire.net/lnk/IB5D4ZA4
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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