Rumble Resources Ltd (ASX:RTR, OTC:RTRFF) has increased its landholding in Western Australia after entering an agreement with Blaze Minerals Ltd to acquire four highly prospective tenements in the Earaheedy Basin in exchange for 2.29 million shares worth $250,000.
The acquisition of the additional 434 square kilometres will expand the company’s 1,760-square-kilometre Earaheedy portfolio and the potential discovery of new zinc-lead-silver as well as copper deposits to complement its maiden inferred mineral resource estimate of 94 million tonnes at 3.1% zinc+lead.
One of the new tenements, E69/3815, is just 1.3 kilometres along strike of Rumble’s newly-discovered Mato Prospect, where a single reverse circulation (RC) drill hole intersected 16 metres at 5.09% zinc+lead, including a higher grade zone of 10 metres at 7.05% zinc+lead.
The Mato discovery is hosted within the Navajoh Unconformity Unit and E69/3815 is believed to lie within the same host unit.
Historically-rich
Rumble will acquire 100% of the tenement titles, inclusive of all data in exploration licences E69/3815, E69/3842, E52/3879 and E69/3889 and pre-existing 1% net smelter return (NSR) royalties over the first three tenements.
Within the new tenements, historical work was mainly confined to E69/3815, where a single RC drill-hole completed in the 1980s returned 20 metres at 0.52% zinc+lead from 20 metres.
Meanwhile, Blaze Minerals’ own drilling intersected further shallow low zinc+lead mineralisation close to Rumble’s E69/3862 boundary, with results including:
- 20 metres at 0.83% zinc+lead from 87 metres;
- 22 metres at 0.77% zinc+lead from 113 metres;
- 7 metres at 0.65% zinc+lead from 26 metres; and
- 8 metres at 0.50% zinc+lead from 40 metres.
The acquisition of E69/3815 opens an additional 30 kilometres of potential definition of further zinc+lead mineralisation.
Transfer of the tenements is subject to Rumble receiving ministerial consent as well as all other necessary third-party approvals, including the assignment and assumption of any third-party agreements.
Historical drill hole locations and significant intercepts within E69/3815 and E69/3862.
Emerging world-class project
Rumble’s Earaheedy Project has exceptional near-term growth potential, with its deposits open in all directions and less than 35% of the 45-kilometre host unit effectively drill-tested.
“We believe the addition of these highly prospective tenements along with the extensive geological knowledge gathered from our discoveries and recent basin-wide targeting evaluations, will lead to further discoveries of a range of zinc, lead, silver and copper mineralisation styles, including Chinook and Tonka-Navajoh MVT related deposit types that are hosted within the flat-lying Navajoh Unconformity Unit,” Rumble interim managing director Peter Venn said.
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