Drilling Scheduled to Commence at Panache Project
Perth, July 29, 2019 AEST (ABN Newswire) - Rumble Resources Limited (
ASX:RTR)(20Z:FRA) ("Rumble" or "the Company") is pleased to provide an update on its exploration activities at the Panache and Long Lake Projects, Greater Sudbury, Canada.
About Sudbury Mining District
Since 1883, the Sudbury mining field has accounted for over 25% of the world's total nickel production and new discoveries continue to be made. It is one of the most productive nickel-mining fields in the world with over 1.7 billion tonnes of past production, reserves and resources.
Nickel-copper and platinum group metals ("PGM") bearing sulphide minerals occur in a 60 km by 27 km elliptical igneous body called the Sudbury Igneous Complex ("SIC"). The current model infers the SIC was formed some 1,844 million years ago after sheet-like flash/impact melting of nickel and copper bearing rocks by a meteorite impact. The SIC is within a basin like structure (Sudbury Basin) which had been covered by later sediments and has subsequently been eroded to the current level. Mineralization occurs within the SIC as well as in the neighbouring country rocks in close association with breccias and so-called 'Offset Dykes'.
Offset Dykes with metamorphosed (hot) Sudbury breccias have become the target of progressively more intense exploration interest in recent years following the discovery of blind economic deposits. Offset dykes are typically quartz-diorite in composition and extend both radially away from and concentric to the SIC. It is important to note that the Offset Dykes developed downwards from the impact melt sheet. Melt material migrated down into the fractures caused by the impact below the SIC. The melt carried metal sulphides that accumulated into deposits within the Offset Dykes by gravity and pressure gradients (impact rebound). Nearly half of the nickel ore at Sudbury occurs in breccias and Offset Dykes in the footwall rocks of the SIC - See image 1 in link below.
Panache Cu-Ni-Co-Au-PGE Project (Image 2 in link below)
The Panache Project (33.5km2 in area) is located 40km southwest of the city of Sudbury, Ontario, Canada. The project hosts a large portion of the Lac Panache gabbro intrusion which is part of the regionally extensive Nipissing Gabbro Suite. Rumble completed a ground TEM (GTEM) over Area B in March 2019 (refer ASX announcement 12 March 2019) over exposed gossans (up to 10m wide and 950m of strike) where grab sampling identified;
o Cu to 1.61%, Ni to 0.49%, Co to 1.1%, Au to 1.64 g/t, Pt to 1.64 g/t and Pd to 1.58 g/t Pd
The GTEM delineated two co-incident conductors at a shallow depth of 40m (see image 3 & 4 in link below).
- Conductor A has a strong conductive response (9000 siemens) and is considered to be semi to massive sulphide.
- Conductor B has a lower conductive response (400 siemens) and is considered to be a zone of stringer sulphide.
The Lac Panache Gabbro intrusion is interpreted to be an arcuate, generally southerly dipping mafic sill (feeder) with increased disseminated Cu - Ni sulphides and potential stringer to massive sulphide towards the base.
Within the project area, some 8 km of prospective strike (Gabbro contact - see image 2) has been inferred. Over 80% of the gabbro contact is under shallow swamps and lakes that can be easily explored in winter. The current GTEM survey has only tested 1.2km of strike (area of sub crop).
Prospecting activities along the prospective gabbro contact is limited to grab sampling (much of the contact is covered) and there has been no previous drilling.
Diamond Drilling Scheduled for Lac Panache
Diamond drilling of the two compelling conductors by Rumble is planned for next month (August). Initially, a single diamond drill hole will test the two parallel conductors (see images 3 and 4). If warranted, a second diamond drill-hole will further test any significant mineralisation.
Long Lake Cu-Ni-PGE-Co Project - Inferred Extension the 'Copper Cliff Offset Dyke System'
The inferred extension of the Copper Cliff Offset Dyke system will be tested by high definition ground TEM at the Long Lake Project. Some 3km of potential Sudbury Breccia dyke (see image 6) is interpreted to occur with the project area.
The Copper Cliff Offset Dyke is a world class copper-nickel sulphide system producing some 200Mt of ore (current producer - Vale). At the southern end of the Offset Dyke, the Kelly Lake Deposit is currently being developed - Kelly Lake has a reserve of 10.5 Mt @ 1.7% Ni, 1.34% Cu and 3.6gpt PGM (note - IGO's Nova - Bollinger Deposit in Fraser Range, WA has a reserve of 13.3 Mt @ 2.06% Ni and 0.83% Cu - 2017).
The Copper Offset Dyke is open to the south which is inferred to extend into the Long Lake Project - see Image 6 below:
Phase 1 - Ground TEM (completed June 2019) - see image 6
- A deep penetrating ground TEM survey was designed to test a VTEM conductor associated with outcropping Sudbury Breccia (Anomaly 19). The survey consisted of eight (8) 200m lines with 100m stations. A high temperature SQUID (HTS) sensor was used to increase depth penetration (50 A system). The survey did not replicate the VTEM conductor (Anomaly 19). The VTEM conductor is interpreted to be small (less than 200m - between lines) and not worthy of further work.
Phase 2 - Ground TEM - Proposed - see image 6
- A high definition ground TEM survey has been planned to test the potential extension of Copper Cliff Offset Dyke. Some 3km of strike has been inferred as Sudbury Breccia. The proposed survey plans to use the low temperature SQUID sensor system (subject to helium availability). It is anticipated the programme will commence in fourth quarter of 2019. The aim is to generate high order conductors that will be subsequently tested with diamond drilling.
Option Agreements to Earn 100% of Long Lake and Panache Projects
Rumble has provided formal notice to the vendor that it has elected to proceed with the second year of the option to acquire the Long Lake and Panache Projects, and paid the relevant consideration.
a. Rumble paid CAD$40,000 Cash and issued 400,000 RTR ordinary shares (Appendix 3B to be lodged shortly).
b. Rumble will also need to spend a minimum of CAD$50,000 in expenditure on each of the projects over the next 12 months.
Upon completing the minimum expenditure, Rumble can walk away from the agreements at any time without further obligation.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/21B999U5
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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