Page 12 - pd285-Aug20-mag-web_Neat

neWs

Ready to rumble with cash and partners

hree years ago, Rumble Resources Ltd Western Queen South that we could get to holder base which has stayed the journey
Thad no projects to call its own. an indicated stage and we think we can do with the company.
Today, the company has a portfolio that in this next round of drilling; that is the Rumble has incrementally increased
stacked with potential and the relevant cash/ plan,” Sikora said. share price and market cap – $80 million at
JV structures in place to bring some of those Western Queen is hosted within a high- the time of print – in the past three years, but
projects to a meaningful point of discovery. grade gold system with two open pit depos- at no point during that time has the compa-
In all, Rumble has compiled a suite of five its historically mined for 210,000oz @ 7.8 g/t ny’s belief in achieving its goals been greater.
projects in Western Australia, some of which and underground production of 74,000t @ “The core projects show indications of
boast Tier 1 discovery potential, according to 10 g/t. being something special. Western Queen
managing director Shane Sikora. “We are already doing internal resource has already got that, the Paterson Province
“It only takes one of them to come in but if models that are looking good. Having four has already had five layers of targeting sug-
four come in we will be a different company mills in the area provides us with flexibility to gesting there is a potential intrusion there.
overnight. That is what we have been work- be innovative and monetise the resources.” The Fraser Range project, 30km north of
ing towards; it is about putting money in the A placement at 9.3c/share to raise $6 mil- Mawson, already has 13km of conductors
ground and getting key assets. Now we think lion was oversubscribed in June. The $8 [copper-zinc] below it so they are advanced-
we are part of the cycle, a new business million cash balance will allow Rumble to stage level to make discoveries,” Sikora said.
where everything is coming together and we undertake the biggest drilling programme – Furthermore, Sikora knows that in techni-
can really take off,” Sikora told Paydirt. 12,000m – in its short history targeting high- cal director Brett Keillor – two-time AMEC
Sikora’s assessment of Rumble’s portfolio grade gold resource extensions and multiple Prospector of the Year winner for the Tropi- REGISTER NOW!
is supported by the participation of IGO Ltd high-grade shoots at Western Queen. An cana and Plutonic gold discoveries – Rum-
as JV partner at the Fraser Range nickel- indication of the potential at Western Queen ble has the technical capability to produce
copper-zinc and gold projects, while 26 gold- Central are underground extension intersec- something special.
copper targets between Nifty and Telfer in tions of 6.4m @ 36.09 g/t gold from 305.7m, “The beginning was the idea but when you
the Paterson Province have been identified 6m @ 34.24 g/t from 354m and 4.7m @ become a real business it is about making a
by AIC Mines Ltd at the Lamil JV, with drilling 6.06 g/t from 485.5m, including 0.7m @ 26.6 discovery and that is where we are right now.
planned for the September quarter. g/t from 488.3m. Internally, we believe it is now about making
Like AIC at Lamil, IGO is doing the heavy “I guess no matter what cycle you are in our own luck; you have to have some luck
lifting for Rumble and drilling in the Fraser if you have high-grade gold you are going when doing these things but we can make
Range, leaving Rumble to focus its attention to see through it because of the econom- our own luck because we have the fund-
on the Munarra Gully gold-copper-silver-zinc ics. We feel we can find something similar ing and the multiple avenues to discovery,”
project near Cue, the Earaheedy zinc-lead- to what Spectrum Metals achieved – 250- Sikora said.
silver project, 100km north of Wiluna and the 300,000oz below Western Queen Central. “We have a lot of self-belief in the com-
Western Queen gold project. We think there is a chance of multiple shoots pany around our structure and strategy. We
Previously mined high-grade gold projects along strike as well which could all host the have stuck to that all the way through and we
in WA are currently in vogue and Rumble same size. We have 5.5km of that and we knew the quality assets were always going
has the chance to continue the successful are zeroing in,” Sikora said. to be fundable, it was just at what point.
trend of revitalising such an asset at Western “The goal is not to become a small-scale “We are about where we thought we want-
Queen, 100km north-west of Mt Magnet. miner. It is about finding large-scale resourc- ed to be but now we have much bigger ideas
Open pit mining at Western Queen Cen- es at Western Queen Central. But if we can about where we want to be in the next six
tral deposit last occurred in 2001, with un- be innovative and get a JV to just mine that months. Now we have money in the bank,
derground production following and ore pro- one specific area it is a great way to fund us, we don’t want to just sit on our hands, we
cessed at Dalgaranga until 2002. so we don’t have to go out and raise money want to be really aggressive with our explo-
Five years later Western Queen South all the time. That will assist us at Western ration and launch to the next level,” he said.
was mined via a two-stage process with ore Queen and other projects as well.” – Mark Andrews
sent to the Checkers Mill in Mt Magnet. Sikora’s vision of delivering Tier 1 discov-
“There are already some ounces there at eries has been backed by Rumble’s share-

A modern-day global gold boom is upon us and Gold Fair ’20 – Paydirt Media’s
newest initiative – offers gold explorers, developers and producers an opportunity
to come face-to-face with a dedicated retail investor audience.
This gold showcase will feature a series of quickfire 15-minute company
presentations to showcase their investment cases; giving investors a chance to
find their own golden ticket among the burgeoning junior gold sector.
Gold Fair ’20 will bring investors together with company CEOs and senior
executives from some of the hottest gold companies.
Spaces are limited, so don’t delay to secure your spot on the programme.
For further information please contact: australiannickelconference.com
Christine Oelschlaeger or Namukale Nakazwe on 08 9321 0355
www.paydirt.com.au To present, exhibit or attend as a delegate please contact Mitchelle Matambo
on (+61) 8 9321 0355 or email mitchelle@paydirt.com.au
Page 12 aUgUST 2020 aUSTRaLIa’S PaYDIRT