Rumble Resources (ASX: RTR) will commence exploration targeting gold at the Paulsens South Project in early December 2011 with a detailed magnetic survey to further define the Melrose fault zone, 15 kilometres south east and along strike of the Paulsens gold mine.
Paulsens South, located in the the emerging Ashburton Gold province of Western Australia, is prospective for Paulsens style gold deposit and base metals, particularly copper and lead.
Andrew McBain, managing director, said “the Paulsens region is underexplored and until recently there has been no significant regional exploration carried out since the Taipan days. Recent exploration and development success by Northern Star confirms our belief that the Paulsens South Project is highly prospective.”
The Paulsens Gold Mine is operated by Northern Star Resources (ASX: NST) and currently contains an Indicated and Inferred Resource of 1,268,000 tonnes at 5.3 grams per tonne (g/t) for 226,000 ounces gold.
Northern Star is currently producing in excess of 80,000 oz gold per annum, with plans to ramp up production to 200,000 oz gold per annum.
Rumble has accumulated a significant land holding in the region since listing on the ASX on the 1st July 2011 through a JV with Venture Minerals (ASX: VMS).
Rumble can earn a 51% interest by the expenditure of $500,000 by 1 July 2014, including completion of a 1,500 metre reverse circulation/diamond drill program by 1 July 2012, and a further 19% interest by the expenditure of a further $1 million by 1 July 2016.