Munarra Gully Project Update and Cleansing Notice
Perth, Mar 25, 2019 AEST (ABN Newswire) - Rumble Resources Ltd (
ASX:RTR) ("Rumble" or "the Company") is pleased to announce that it has provided notice to the vendors that it has exercised the option for the Munarra Gully Project's M51/122 and E51/1677 acquisitions as per the original announcement dated 27 February 2018 (Project). The Company has also acquired 100% of the strategic, highly prospective tenement E51/1919 contiguous to the Project's north eastern boundary for 400,000 ordinary shares.
Highlights
Project Status
- Based on the significant Cu-Au exploration results, unique style of mineralisation and large scale potential, Rumble has exercised the option to acquire the Munarra Gully M51/122 and E51/1677 projects
- A further strategic highly prospective tenement (E51/1919), contiguous to the north eastern boundary of the existing Munarra Gully Project area, has been 100% acquired
Next Steps
Airborne magnetic survey
- Survey has been completed to aid in delineating potential Cu-Au bearing intrusive, help understand structural trends and to assist targeting for the upcoming drill program - Rumble completing assessment of data and will release results once finalised
Air core and RC drilling on track for April 2019, key objectives include:
- Extend the 800m strike of known Cu-Au mineralisation at the White Rose prospect with shallow air core drilling
- Test the recently defined zones (up to 80m wide) of copper-gold mineralisation and the new Ni-Cu target at White Rose prospect, with deeper RC drilling
- Complete air core drilling traverses over the recently defined copper in soil targets and potential strike under cover at E51/1677
Munarra Gully Project Overview
Exploration Target: Multiple copper-gold bearing mafic (norite) intrusions.
- The style of mineralisation is likely magmatic and is atypical with respect to mineralised mafic intrusive systems due to high Cu:Ni ratios, high Au and Ag, low S and elevated PGM's
- The style is similar to known large copper rich mafic intrusive (ortho-pyroxenite) historical deposits in Brazil (Caraiba mining district - 96Mt @1.82% Cu reserve and production) and South Africa (Okiep mining district - Koperberg - 94Mt @ 1.75% Cu historic production). Gold, silver and PGM's are associated with these copper deposits
The Munarra Gully Project is located some 50km NNE of the town of Cue within the Murchison Goldfields.
Maiden RC Drill Program - New Significant Cu-Au Discovery - M51/122
- Four RC drill-holes returned significant copper-gold mineralisation from a fine to medium grain intrusive pyroxenite (norite) at the White Rose Prospect
- Results included: - 22m @ 1% Cu from 29m coincident with 19m @ 2.19 g/t Au from 33m. Maximum Cu was 2.66% (40-41m). Maximum Au was 11.56 g/t (49-50m)
- Shallow air-core drilling has extended the strike potential of the copper-gold mineralisation to over 800m, significantly adding scale potential to the project - strike open west and northeast
- New target type - A north-south trending magnetic target tested by the air-core drilling confirmed an ultramafic intrusive (pyroxenite) which returned Ni to 4008 ppm and Cu to 1061 ppm near surface
E51/1677 - Regional Geochemistry
Infill lag (soil) sampling defined was successful in defining four high order copper drill targets over a strike of 3.6km.
1. Copper A1 Anomaly - 600m strike, up to 400m wide with copper to 437 ppm
2. Copper A2 Anomaly - 500m strike with copper to 444 ppm
3. Copper A3 Anomaly - 2000m strike with copper to 620 ppm and gold to 35 ppb
4. Copper A4 Anomaly - 200m strike with copper to 916 ppm and gold to 19 ppb
- No previous copper exploration has been completed over these new targets
- Additional 4km of potential strike is under cover between the Cu soil anomalism and White Rose Cu - Au mineralisation and is a priority target
Next Steps
Airborne Magnetic Survey
Rumble has completed an airborne magnetic survey over the main copper anomalous trend at Munarra Gully. The survey had flight lines at 330deg (optimum to main magnetic units), line spacing at 100m and a sensor height at 45m. The survey will provide better resolution and definition to aid in identifying the main host unit for the copper-gold mineralisation, assist in understanding the structure for the upcoming drill program. Rumble is completing assessment of data and will release results once finalised.
Air core and RC drilling on track for April 2019, key objectives include:
- Extend the 800m strike of known Cu-Au mineralisation at the White Rose prospect with air core drilling
- Test the recently defined zones (up to 80 metres) of copper-gold mineralisation with deeper RC drilling
- Complete air core drilling traverses over the recently defined 3.6kms of copper in soil targets
- Complete air core drilling traverses over the approximate 4km of potential strike under cover between the copper in lag anomalism and the White Rose Cu - Au mineralisation
Airborne Magnetic Survey - East Pilbara
The Company advises that is has completed an airborne magnetic survey for the Braeside, Barramine and Lamil Projects in the east Pilbara region of Western Australia. Results from the survey are not yet available, and the Company will release full details of the programs and results as soon as they are available.
Cleansing Notice
Rumble Resources Limited (Company) (ASX:RTR) hereby notifies the ASX under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act) that on Friday 22 March 2019 the Company issued 2,548,084 fully paid ordinary shares in respect of the elections to exercise the options to acquire the Munarra Gully Project, as originally announced to the ASX on 27 February 2018. The Company has issued a further 400,000 fully paid ordinary shares as consideration for the acquisition of tenement application E51/1919 which will form part of the Munarra Gully Project. The shares have been issued under the Company's existing placement capacity under ASX Listing Rule 7.1. The Company gives notice pursuant to Section 708A(5)(e) of the Corporations Act that:
1. The shares were issued without disclosure under Part 6D.2, in reliance on and providing notice under Section 708A(5) of the Corporations Act.
2. The Company, as at the date of this notice, has complied with:
a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and
b) section 674 of the Corporations Act.
3. As at the date of this notice, there is no information, for the purposes of section 708A(7) and 708A(8):
a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and
b) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:
i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or
ii. the rights and liabilities attaching to the shares.
Please refer enclosed Appendix 3B (see link below) for further detail in respect of the issue of shares.
To view Appendix 3B and figures, please visit:
http://abnnewswire.net/lnk/9Y4XH9GR
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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