Rumble Resources Ltd (ASX: RTR) has completed the first modern systematic exploration programme at the Braeside Project in the Pilbara region of Western Australia and completed a successful capital raising.
Image 1 – Braeside Location and Geology Map with Latest Prospects
The company said that now that the ground TEM Survey has been completed in permit E45/2032, the Rumble team will now analyse the data to help optimise drill targeting to provide the best chance to test bedrock conductors for economic concentrations of high grade base metals.
The area hosts many historic high-grade base metal small-scale mines that produced lead, zinc and silver up until 1959.
Rumble also reported that it has successfully completed the native title survey which has been cleared for drilling.
The company is optimising the numerous drill targets which will be a combination of conductors and mineralised geological structures coincident with identified high grade regional metals trends and high grade base metal rock chips.
To support its activities, Rumble has successfully completed a $4.8m capital raising, providing the company with approximately $6M in the bank post this transaction.
The company said this will allow it to fast track any exploration success seen in this current drill program at Braeside, while simultaneously commencing a works program over the high-grade Barramine Cu-Pb-Zn-Ag project and high-grade Earaheedy Zn project in Western Australia, along with reviewing potential new project acquisitions.
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The Braeside Project E45-2032 consists of multiple high-grade zinc, lead, copper and silver deposits and occurrences associated with north to northwest trending fault fracture zones within mafic volcanics and volcaniclastics over a strike of at least 60 km. The poly-metallic mineralisation has not been tested by detailed geophysics, geochemistry and very limited drilling with only 10 known historic drill holes in 1928 and 1951.
High grade grab sampling assays have returned up to 29.31% Zn, 79% Pb, 17.48% Cu, 325 g/t Ag,13 g/t Au and V 1.03% along 30km of strike within a potential 60km strike system.
Rumble’s exploration programmw is the first modern systematic exploration program being undertaken at the Braeside High Grade Zinc – Lead Project.
