Rumble Resources Ltd: Western Queen Gold Project - Multiple Targets to be Drilled
03.11.2019 | ABN Newswire
Perth, Australia - Rumble Resources Ltd. (ASX:RTR) (FRA:20Z) is pleased to announce that is has been fast tracking the exploration and development of the Western Queen High-Grade Gold Project focussing on identifying and progressing all opportunities within the project.Western Queen Gold Project Overview
The Western Queen High-Grade Gold Project lies 110km NW of Mt Magnet within the Yalgoo mineral field of Western Australia ("the Project"). The Project comprises of two contiguous mining leases (M59/45 and M59/208) for a total area of 9.8 km2. The holder is Mt Magnet Gold Pty Ltd, an entity owned by Ramelius Resources (ASX:RMS). Rumble entered into an option to acquire 100% of the Project in August 2019 (see ASX announcement - 6th August 2019 - Option to Acquire High-Grade Western Queen Gold Project).
The Western Queen High-Grade Gold Project is located within a 100km radius of three operating gold processing mills (see image 1). The closest mill is the Dalgaranga Mill (48km) which has a capacity of 2.5 Mtpa. The Checkers Mill (Mt Magnet) has a capacity of 1.9 Mtpa and the Tuckabianna Mill has a capacity of 1.2 Mtpa.
Two mined deposits at the Western Queen Gold Project have a combined historic production of 880,000t @ 7.6 g/t Au for 215,000oz. The Western Queen (Central) Mine produced 660,000t @ 8.9 g/t Au for 189,500oz and the Western Queen South Mine (from two stages) produced 220,000t @ 3.6 g/t Au for 25,500oz.
An updated mineral resource (Payne Geological Services Pty Ltd - Independent) completed in January 2018. Rumble has reviewed and verified the indicated and inferred resource (refer ASX announcement 6 August 2019), and estimates remaining resources beneath both mined deposits of 962,000t @ 3.9 g/t Au for 120,000oz. Of note the high-grade zone below the Western Queen Central Pit hosts inferred mineral resources of 130,000t at 9.0g/t Au for 38,000 ounces.
To view the full release, including tables and figures, please visit:
https://abnnewswire.net/lnk/OD2479G7
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.
Source:
Rumble Resources Ltd.
Contact:
Shane Sikora Managing Director Email: enquiries@rumbleresources.com.au Phone: +61-8-6555-3980 Website: www.rumbleresources.com.au
