Rumble Resources Ltd (ASX:RTR, OTC:RTRFF) has completed the acquisition of four new tenements at the Earaheedy Zinc-Lead-Silver Project in Western Australia, extending the project a further 434 square kilometres.
Of particular interest to Rumble within these acquisitions is the additional 30 kilometres of strike to the Navajoh Unconformity Unit, which is the geological host to the Chinook, Tonka and Navajoh deposits.
Exploration licences E69/3815, E69/3842, E69/3889 and E52/3879 have been acquired with 100% title from Blaze Minerals Ltd.
Highly prospective, strategic tenements
“We are pleased to complete this acquisition and believe the addition of these highly prospective and strategically located tenements will lead to further discoveries similar to the Chinook, Tonka-Navajoh and Mato Mississippi Valley Type deposits within this emerging world-class base metal province,” Rumble Resources managing director Peter Harold said.
One of the tenements, E69/3815, is only 1.3 kilometres along strike from the recently discovered Mato Prospect, where limited reverse circulation (RC) drilling has intersected high-grade intervals.
Those intervals include 16 metres at 5.09% zinc and lead, 12 metres at 6.07% zinc and lead, and 12 metres at 5.28% zinc and lead, with mineralisation remaining open for further exploration in all directions.
The consideration was 2,291,047 Rumble ordinary shares (based on $250,000 worth of Rumble shares at a deemed issue price of $0.109 derived from the 30-day VWAP, up to, but not including the date of signing the acquisition agreement).
Expanded project
Rumble's Earaheedy Project tenure portfolio now incorporates around 1,206 square kilometres (including E69/3464 JV with Zenith) of highly prospective geological terrane.
The new tenements could potentially lead to the discovery of additional zinc-lead-silver deposits to complement the current combined (pit-constrained) inferred mineral resource of 94 million tonnes at 3.1% zinc+lead.
Rumble’s exploration team is now planning a reconnaissance drill program to investigate the new tenements.