Rumble Resources (ASX:RTR) expects to finish an initial 6-hole, 1,200m PQ diamond drilling campaign recently launched in mid-December, with key metallurgical studies including beneficiation testing expected to start in Q1 2024.
The $58.64 million market capitalisation says the drilling will provide about one tonne of cored material from the Chinook deposit area, which is part of its Earaheedy zinc-lead-silver project in Western Australia.
Chinook holds a resource of 63 million tonnes @ 3% zinc plus lead and 4 grams per tonne (g/t) silver (at a 2% zinc-lead cutoff).
The drilling follows a heritage survey initially focused on the Chinook, Tonka, and Navajoh resource areas within tenement E69/3464, which represents Rumble’s 75:25 Joint Venture (JV) with Zenith Minerals (ASX:ZNC).
Drilling has been designed to complete essential metallurgical beneficiation trials, including dense media separation and ore sorting, to assess the potential to upgrade lower-grade zinc-lead mineralisation.
Rumble notes drilling will target new ‘high-grade’ Mississippi valley-type (MVT) mineralisation.
Rumble Resources interim Managing Director Peter Venn says the company will further enhance the development qualities of the Earaheedy base metal system alongside the traditional owners of the land, the Tarlka Matuwa Piarku Aboriginal Corporation RNTBC.
The Earaheedy Project sits about 110km northeast of the township of Wiluna in Western Australia and has access to major highways, power, rail, ports, airports, and an experienced mining workforce.
As of 30 September, Rumble Resources had $6.85 million cash and cash equivalents at hand according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Rumble Resources