Rumble Resources Ltd.: Half Yearly Report for the Period Ended 31 December 2017
18.03.2018 | ABN Newswire
Perth - Rumble Resources Ltd. (ASX:RTR) submit the financial report of the Consolidated Group "the Group" for the half-year ended 31 December 2017.REVIEW OF OPERATIONS
During the period Rumble Resources Ltd. ("Company') executed the board's clear strategy of organic growth by generating a pipeline of quality high grade base and precious metal projects which are critically reviewed against stringent criteria by Rumbles technical director Brett Keillor.
Rumble's Technical director Brett Keillor brings a very successful background in exploration having discovered 7 significant deposits worldwide and twice recipient of the AMEC Award "Prospector Of The Year", for the Plutonic and Tropicana discoveries and thirty years of identifying company making projects with majors Resolute and IGO.
In April 2017 Rumble announced the acquisition of the Company's flagship Braeside high grade Zinc-Lead project and subsequent exploration during the period culminated in a maiden drilling program, which was significant in identifying a new high-grade zinc discovery in its first ever drill program. Rumble also added the Earaheedy High Grade Zinc Project, Munarra Gully high grade Copper Gold Project, Nemesis high grade Gold Project and the Barramine High Grade Cu-Pb-Zn-Ag Project option.
Four of these projects will be drilled tested in 2018 with JV partner IGO exploring our Fraser Range Project. Exploration by Rumble in 2018 will give shareholders multiple near term catalysts to have a significant re-rating with each drill program a chance to make high grade discoveries.
Braeside High Grade Zn-Pb-Cu-Ag -V Project - New High Grade Zinc Discovery
- 34km strike of base metal mineralisation with high grade grab sampling assays returning up to 29.31% Zn, 79% Pb, 17.48% Cu, 325 g/t Ag, 13 g/t Au and V205 3.29%
- Rumble completed first systematic modern exploration on the project which culminated in the first ever RC drilling on the project in late 2017 which identified a new high grade zinc discovery at Devon Cut 5m @ 8.0% Zn, 0.35% Pb from 32m
- 2 x Drill Programs planned in 2018 to commence in May
- Rumble is targeting high-grade fault breccia pipe type deposits (2-5Mt of high-grade Zn and Pb) and lower grade disseminated base metal deposits (30-50Mt).
Barramine High Grade Cu-Pb-Zn-Ag Project
- High grade prospects of up to 25.32% Cu, 279 g/t Ag, 6% Pb and 1.8% Zn not tested by modern exploration
- Rumble to conduct maiden exploration in 2018
Earaheedy High Grade Zn Project
- Historical drilling discovered high-grade zinc up to 18.6% within an intersection 3.3m @ 11.2% Zn, and 0.93% Pb from 150m.
- Rumble completing targeting for maiden drill program in 2018
- The target size is similar to the Pillara (Blendevale) Zn - Pb deposit located in the Devonian limestones of the Lennard Shelf, which produced 10.3 Mt @ 6.9% Zn and 2.3% Pb
Munarra Gully High Grade Cu-Au Project
- Historic exceptional intersection from surface of 40m @ 0.66% Cu, 4.85 g/t Au to EOH, with an intersection 8m @ 1.32% Cu, 22.75 g/t Au from 24m - open at depth
- Rumble maiden drill program planned for April 2018
Nemesis - High Grade Au Project
- Historic small scale gold mine produced from 1900-1910 7157oz of gold from 2276 ton of ore - 98 g/t Au
- Rumble maiden drill program planned for April 2018
Fraser Range Ni -Cu Projects
- JV with major Independence Group NL (ASX:IGO) who has completed 12000m of drilling, results pending.
The Company is in an exceptionally strong cash position being fully funded with $5.2mil in bank to compete the exploration plans with all projects acquired low cost exploration to test for discovery.
The Company continued to review its project portfolio during the period, and relinquished non-core assets that were assessed to not present an opportunity to achieve shareholder value. The Company continued to maintain its existing projects in good standing and review opportunities to advance these projects.
SUBSEQUENT EVENTS
On 16 January 2018 and 22 February 2018 drilling results from the maiden drill program at the Braeside Project were disclosed to the market.
On 5 February 2018 the Company provided an update on its JV with Independence Group NL at the Company's Fraser Range Projects.
On 27 February 2018 the Company announced to the ASX an Option agreement had been executed to acquire the Munarra Gully Copper Gold Project.
On 6 March 2018 the Company announced to the ASX an Option agreement had been executed to acquire the Nemesis Gold Project.
With the exception of the above, no events occurred of a material nature that require further disclosure.
To view the full report, please visit:
http://abnnewswire.net/lnk/R4GWAF30
About Rumble Resources Ltd:
Rumble Resources Ltd. (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.
Contact:
Rumble Resources Ltd.
Shane Sikora, CEO
T: +61-8-6555-3980
www.rumbleresources.com.au