🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Rumble Resources confirms high-grade tungsten discovery at Western Queen

Published 02/09/2024, 10:03 am
Updated 02/09/2024, 10:30 am
© Reuters.  Rumble Resources confirms high-grade tungsten discovery at Western Queen

Rumble Resources Ltd (ASX:RTR, OTC:RTRFF) has confirmed the presence of high-grade tungsten mineralisation at the Western Queen Gold Project in Western Australia, having re-assayed samples from seven holes drilled in 2021.

The samples revealed elevated levels of tungsten, grading at up to 12 metres at 0.56% tungsten from 69 metres and 2 metres at 2.48% tungsten from 70 metres.

These new results complement those already observed in recent drill holes, which produced multiple tungsten intersections including 4.05 metres at 4.58% tungsten and 0.71 g/t gold from 174.8, and 0.65 metres at 18.35% tungsten and 2.97 g/t gold from 176.85 metres of depth.

Targeting maiden tungsten resource

“The discovery of tungsten at Western Queen has demonstrated the huge optionality that we have in our extensive tenement portfolio,” Rumble Resources managing director and CEO Peter Harold said.

“The assay results from the 2021 drill pulp samples have confirmed that we have made a significant tungsten discovery at Western Queen.

“This is brilliant work by our exploration team and we look forward to receiving further assays from the substantial amount of existing drill core and pulps.

“Best case scenario, positive results from this future analysis could allow us to calculate a resource without any additional drilling.

“Whilst the tungsten is a great new discovery, we already have substantial gold resources at Western Queen on granted Mining Leases within trucking distance of a number of mills.

“Our primary focus is therefore to monetise these resources in the near term.”

RTR’s tungsten results have primarily originated from a 2-kilometre-long anomaly parallel to the Western Queen Shear and known to host high-grade gold mineralisation.

The company believes the widths and tenors of the drilling results observed at Western Queen point to potential for a economical tungsten resource, with about 87 historically drilled reverse circulation (RC) and diamond drilled (DD) holes demonstrating tungsten levels of more than 500 parts per million (ppm).

Re-analysing historical drilling samples

The standout results from Rumble’s re-analysis of assay results at Western Queen include:

  • 12 metres at 0.56% tungsten and 0.46 g/t gold from 69 metres, including 2 metres at 2.48% tungsten and 0.12 g/t gold from 70 metres;
  • 3 metres at 0.69% tungsten from 90 metres and 2 metres at 1.55% tungsten from 159 metres;
  • 12 metres at 0.34% tungsten and 3.22 g/t gold from 202 metres, including 7 metres at 0.49% tungsten and 4.71 g/t gold from 206 metres; and,
  • 2 metres at 0.75% tungsten and 0.48 g/t gold from 81 metres.

Rumble intends to review its substantial library of historical drilling samples for tungsten, which the company believes will provide the bulk of data required to classify an initial resource estimate, if there is potential for one.

Tungsten is a critical mineral with strategic importance in defence applications, relative scarcity and supply risk.

The UK, US, Australia and EU have listed tungsten on their critical mineral lists, with 75-80% of tungsten traditionally produced in China.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.