Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Rumble Resources (RTR) secures remaining 30 per cent of the Braeside Project in the East Pilbara region of Western Australia
  • RTR now wholly owns the project after acquiring the balance of E45/2032 from Maverick Exploration for 1.8 million new fully paid ordinary shares
  • Great Sandy has also handed over its 30 per cent hold in E45/4368 for 500,000 new shares
  • By consolidating the project, Rumble Resources says it now has a significant land holding in the Fortescue and Paterson Provinces of the region
  • Shares dropped 4.4 per cent to trade at 54.5 cents each at 2:20pm AEST

Rumble Resources has secured the remaining 30 per cent of the Braeside Project in the East Pilbara region of Western Australia.

The project comprises four exploration licences across 670 square kilometres, with RTR now consolidating the entire project by acquiring the remaining hold of two areas.

Maverick Exploration previously held 30 per cent of E45/2032, offering it over to RTR in return for 1.8 million new fully paid ordinary shares, free of all encumbrances.

The other licence has been secured from Great Sandy for 500,000 new shares also free of all encumbrances.

In April 2017, Rumble acquired the rights to the Braeside Project, which hadn’t had any prior systematic modern exploration.

RTR began its first phase of work the following month and after three years of several phases of exploration, the company has generated forty-five zinc-lead-silver-vanadium-copper targets.

In December 2020, the company announced the discovery of copper and lead at the Camel Hump and Barker Well prospects, highlighting the potential for a cluster of camp scale base metals deposits at the project.

Moreover, a further twelve prospects have been partly tested by drilling with drill hole intersections including five metres at 8 per cent zinc, 0.35 per cent palladium from 32 metres and four metres at 6.35 per cent palladium with 14.7 grams of silver from 35 metres.

Elsewhere within the Braeside Project, soil and grab sampling has highlighted
over thirty high order base metal targets that are yet to be drill tested.

With the consolidation, RTR said it now holds a significant land holding in the Fortescue and Paterson Provinces of the region, with interest in three projects which in addition to Braeside, include the Warroo and Lamil projects.

Shares had dropped 4.4 per cent to trade at 54.5 cents each at 2:20pm AEST.

RTR by the numbers
More From The Market Herald

" Golden Mile Resources (ASX:G88) commences RC drilling at Yarrambee

Golden Mile Resources (G88) has commenced a series of reverse circulation (RC) drilling at its Yarrambee copper, zinc and nickel project in Western

" Jupiter Mines (ASX:JMS) loses another leader

Jupiter Mines (JMS) Director Hans Mende has stepped down from his role, the latest in a string of resignations for the mining company.

" First Graphene (ASX:FGR) achieves milestone on supercapacitor materials

First Graphene (FGR) has achieved a critical milestone on its program to develop high performing supercapacitor materials.

" Fenix Resources (ASX:FEX) hits iron ore milestone

Fenix Resources (FEX) has announced it has reached one million dry metric tonnes of ‘high-grade’ iron ore sales from its Iron Ridge project