Rumble Resources Ltd: Panache Project Drilling Update
08.11.2019 | ABN Newswire
Perth, Australia - Rumble Resources Ltd. (ASX:RTR) (FRA:20Z) advises that final assay results from the recent Panache Project drill program returned low tenor copper, nickel and PGE from massive pyrrhotite and pyrite associated with highly deformed siliceous metasediment in contact with gabbro. Massive iron sulphides were remobilised along a wide shear zone and correlate with two parallel conductors previously defined by a ground TEM (transient electro-magnetic) survey.Rumble will now complete a final review before making a decision on the project.
Rumble's Managing Director, Mr Shane Sikora, said: "Rumble's clear strategy is to generate and option a pipeline of quality base and precious metal projects capable of low cost exploration to drill test for world class high grade discoveries, providing multiple avenues to discovery.
Whilst the Panache results are disappointing, the Board's strategy mitigates the reliance on one project's exploration results. In line with our strategy Rumble has 8 near term catalysts on 7 projects prior to the end of December 2019, providing multiple opportunities for a significant re-rating".
Eight Near Term Catalysts to December 2019
(See Image 2* for exploration timeline)
1. Drill down plunge of high-grade Au Western Queen Central Deposit
Western Queen Au Project, Mt Magnet - Western Australia
Commenced
2. JV partner AIC Mines drill targeting Tier 1 Cu-Au deposits
Lamil Cu-Au Project, Paterson Province - Western Australia
Commenced
3. Drill down plunge Cu-Au feeder zone targeting high-grade Cu-Au
Munarra Gully Cu-Au-Co Project, Cue - Western Australia
4. Follow up drilling of high-grade Co discovery - 10km open & untested
Munarra Gully Cu-Au-Co Project, Cue - Western Australia
5. JV partner IGO follow up drilling of high-grade Au discovery
Thunderstorm Ni-Cu-Au Project, Fraser Range - Western Australia
6. Drill targeting Sudbury "Offset Dyke" massive Ni-Cu-PGM deposits
Long Lake Ni-Cu-PGM Project, Sudbury - Canada
7. Drill targeting (14 Targets) epithermal to porphyry deposits
Braeside/Barramine Zn-Pb-Cu-Ag-Au-V, Pilbara - Western Australia
8. Drill targeting 'open-pittable' flat lying sandstone hosted Zn-Pb Deposits
Earaheedy Zn-Pb Project, Wiluna - Western Australia
*To view images and figures, please visit:
https://abnnewswire.net/lnk/91TAB39C
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