Quarterly Activities and Cashflow Report
Perth, Oct 24, 2019 AEST (ABN Newswire) - Rumble Resources Ltd (
ASX:RTR) provides the Quarterly Activities and Cashflow Report to September 2019 with significant highlights.
Panache Ni-Cu-Co-Au-PGM, Sudbury, Canada
- A single diamond drill hole successfully tested two parallel conductors delineated from a small (1.2km strike test) ground TEM survey at Area B
- Two sulphide mineralised zones (combined 40.5 metres) intercepted in drilling correlate with the conductors at Area B - awaiting assays
Long Lake Ni-Cu-PGE-Co Project, Sudbury, Canada
- Phase 2 - a deep penetrating ground TEM survey has been planned
Western Queen Au, Mt Magnet, Western Australia
- Rumble optioned the Western Queen Project, a high-grade Au system with two mined open pit deposits with a combined historic production of 840,000t @ 7.8 g/t Au for 210,000oz
- High-grade Au open down plunge (historic underground mine grade of 10.32 g/t Au) with intercepts 6.3m @ 36.09 g/t Au from 305.7m and 11.8m @ 16.08 g/t Au from 340.4m remains open and untested
Earaheedy Zn-Pb, Wiluna, Western Australia
- Diamond/RC drilling on E69/3464 discovered previously unrecognised mineralised sandstone unit hosting higher-grade Zn-Pb mineralisation
- Rumble's new target has potential for large tonnage, flat lying, near surface (open pittable) sandstone hosted Zn-Pb deposits
- Rumble renegotiated & exercised option to acquire 75% of E69/3464 & strategically applied for three 100% RTR contiguous exploration licenses
Braeside/Barramine Zn-Pb-Cu-Ag-V, Pilbara, Western Australia
- 14 high priority targets identified
Munarra Gully Cu-Au-Co, Cue, Western Australia
- E51/1677 shallow high-grade cobalt - platinum discovery - drilling planned
- M51/122 White Rose copper-gold feeder defined - drilling planned
Thunderstorm Au, Fraser Range, Western Australia, JV with IGO
- Drilling planned to follow up significant high-grade gold discovery
Lamil Cu-Au, Paterson Province, Western Australia, JV with AIC Mines
- Site visit, compilation of geoscientific data sets and planning underway for land-based gravity and passive seismic surveys over main targets
Corporate
- Rumble completed a capital raising of $3,750,000, at $0.075 per share and a 12% premium to the 30 day share price VWAP, underpinned by two new cornerstone investors: the Copulos Group, and a principal of Bennelong Asset Management
- Strong cash position of $4.32m at end of quarter
- Rumble's 2018-2019 R&D claim was lodged for $1.2million - this amount is expected to be received in November 2019 (and is not included in the cash position for the quarter)
To view the quarterly report, please visit:
https://abnnewswire.net/lnk/777JZ17N
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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