Significant High Grade Gold Mineralisation Intersected at JV
Perth, July 1, 2019 AEST (ABN Newswire) - Rumble Resources Ltd (
ASX:RTR)(20Z:FRA) is pleased to announce JV partner Independence Group NL (ASX:IGO) has intersected significant shallow high-grade gold mineralisation within the Thunderstorm Project in a regional exploration program.
The Thunderstorm Project lies within the Albany - Fraser Province and is located some 250km SSE of Kalgoorlie, Western Australia. The Thunderstorm Project comprises of four exploration licences, E28/2366, E28/2528, E28/2529 and E28/2595 for a total area of 323km2.
Independence Group NL (ASX:IGO) has also provided formal notice that it has met its obligation to spend >$1.5M within 3 years to earn a 70% stake in the Fraser Range JV. Rumble is now free-carried 30% up to the completion of a Pre-Feasibility Study (PFS).
Exploration by Independence Group (IGO)
First stage exploration by IGO utilised the Spectrem AEM system to map out depth of cover and to highlight conductors under shallow cover. The Spectrem AEM system is a high-definition fixed-wing, time domain airborne electromagnetic geophysical technique. The Spectrem AEM system also acquires magnetics data.
Following the geophysical survey, regional air core drilling is completed (drilling is ongoing) on wide spaced patterns (3km by 400m and 1.5km by 400m). The aim of the regional air core drilling is to test the cover depth, basement and regolith geology and geochemistry, and to highlight anomalous trends. Favourable conductors defined by the Spectrem AEM survey are then further tested by GTEM (ground transient electromagnetics) and if high priority, are drill tested by reverse circulation /diamond drilling.
Conclusions and Next Steps
The identification of significant high-grade gold mineralisation in wide-spaced drilling, within a large complex palaeo-drainage system over a broad area, highlights the potential for both palaeo-channel and basement gold deposits.
Rumble considers the Themis Prospect gold mineralisation as the most significant gold intercept in recent years in the Fraser Range outside of the Tropicana gold system.
The main palaeo-drainage has not been tested between the two main intercepts (18AFAC30771 and 18AFAC20486), a distance of 11km (13km by drainage), highlighting the scale potential.
Drilling by IGO has outlined numerous >100ppb Au air core drill-hole intercepts (see image 3) on other palaeo-drainages that feed into the main system.
Further exploration by IGO will consist of infill air core drilling planned to test the high-grade gold mineralisation.
IGO is also completing broad-spaced (1.5km by 400m) air core drilling over the remaining untested areas - Assays Pending
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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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