Join our daily newsletter At The Bell to receive exclusive market insights
Rumble Resources Ltd (ASX:RTR) has expanded its Western Queen gold resource estimate by 76% to 287Koz at 2.2g/t gold.
The overall tonnage now incorporates 4.42Mt of ore on the back of diamond drilling completed in June of this year at the Western Queen Gold Project (WQGP). Indicated Resources have been increased by 142% now representing 56% of the total Mineral Resource Estimate (MRE).
All MRE calculations are taken within the company’s granted mining boundary envelopes “and located within a 100km radius of three gold processing facilities.” Spartan’s Dalgaranga Mill – 48km away – is closest.
The company noted that Western Queen deposits historically produced 215Koz at 7.6g/t on Tuesday.
“We believe that Western Queen is one of the most underexplored high-grade gold projects in Western Australia,” Rumble CEO Peter Harold said.
“We now have 286,600 ounces of gold averaging just over 2 grams per tonne on granted mining leases, within trucking distance of existing operating gold plants, historical production of 215,000 ounces together with significant exploration prospectivity.”
In the coming months, more drilling will be launched, with an RC rig campaign to sink up to 12,000m worth of holes. That program will be further aimed at upgrading the existing resource.
The company noted on Tuesday mineralisation remains open along strike and at depth; on-site is featured the 2.7km Western Queen Shear Zone.
RTR last traded at 5.1cps.
Join the discussion: See what HotCopper users are saying about Rumble Resources and be part of the conversations that move the markets.
