Rumble is poised to commence its initial drilling programme on the Zanthus Project, in which it is earning 75% from Blackham Resources. Zanthus is centred approximately 20km south-east of Sirius’ Nova-Bollinger discovery, and geophysical work has highlighted an “eye” like magnetic feature, with coincident electro-magnetic (“EM”) and gravity anomalies, highlighting the potential for gabbroic intrusives, and massive Ni-Cu sulphide mineralisation similar to that at Nova. This five hole, 1,200m RC drilling programme will test five bedrock EM conductors spatially associated with the magnetic and gravity anomalies, with the gravity “highs” potentially due to gabbroic units. Recent drilling at the nearby Big Red Project has returned very encouraging results, intersecting gabbroic intrusives, containing zones of disseminated pyrrhotite and Ni-Cu sulphides, with associated anomalous nickel and copper geochemistry. This drilling was followed up by downhole EM surveying, which has highlighted a number of high conductance off-hole conductors which now require drill testing. With further drilling about to commence we expect rising investor interest and allied with high leverage to exploration success we continue to rate Rumble as a SPECULATIVE BUY. Download the report for more information…
Rumble Resources Limited - June Update 2015
Company
- Rumble Resources LimitedASX: RTR