Indicated Ounces Leaps By 145% In WA
Rumble Resources Limited (ASX: RTR) has completed an updated Mineral Resource Estimate (MRE) on two mining leases M59/45 and M59/208 at the 100% owned Western Queen Gold Project, that lies 110km NW of Mt Magnet within the Yalgoo Mineral field of Western Australia.
The resource update was completed independently by Cube Consulting (Perth) after completing a drill database update. Drilling data from Rumble’s recent campaigns and newly secured historical datasets (databases, excel spreadsheets, reports) underwent an extensive compilation and verification process.
Managing Director, Shane Sikora, said the updated Mineral Resource Estimate (MRE) produced a 35% increase in the total resource from the previous estimate. The combined Indicated and Inferred Resource is 2.1Mt @ 2.42g/t Au for a total of 163,268 ounces. The total Indicated Resources now stand at 1.1Mt @ 1.95g/t Au for a total of 67,145 ounces, which represents a 145% increase over the previous estimate.
Drilling completed by Rumble has helped to refine the overall geometry of the gold system and controls. The deposits remain open at depth, whilst significant drilling intercepts to the north and south within the WQ shear zone which hosts the Western Queen Project Mineral Resources, highlights the potential to discover new deposits throughout the immediate Western Queen Gold Project area.
“The Board is pleased to announce the updated Independent JORC resource estimate for the Western Queen Project which has provided some attractive options for the Project,” Mr Sikora said.
“The independent resource report highlights that the gold resources could potentially support a rapid start-up open-pit and underground mining operation, combined with industry-standard gold processing technology that could be toll treated at the three nearby processing mills within a 110km radius”. “
There is scope to significantly expand the resources at depth and discover further near surface and underground deposits along the 35kms of highly prospective Western Queen shear zone strike which has yet to be drill tested. This supports our view that there is potential to expand and develop a standalone operation at Western Queen.”
The Western Queen Project has 3 nearby operating gold processing mills. The closest mill is the Dalgaranga Mill (48km) which has a capacity of 2.5 Mtpa. The Checkers Mill (Mt Magnet) has a capacity of 1.9 Mtpa and the Tuckabianna Mill has a capacity of 1.2 Mtpa. These facilities provide the possibility for near term toll treating production.
For further information please visit: https://rumbleresources.com.au/