Rumble Resources' (ASX: RTR) is raising up to A$1.75 million to fund exploration and drilling at its Paulsens South and Beadall projects in Western Australia.
Proceeds from the Placement of about 3.675 million share priced at A$0.21 each will also be used for initial exploration at the Derosa gold project in Burkina Faso.
Drilling at the Paulsens South gold and base metals project and the Beadall copper and base metals project is expected to start in October with results expected in late November or early December.
Rumble plans to drill 15 reverse circulation drill holes totalling 1,600 metres at Paulsens South from this month targeting the Melrose Fault Zone and the Highway Fault Zone.
Paulsens South is located in close proximity to Northern Star Resources' (ASX: NST) operational Paulsens underground gold mine and targets a similar style of gold mineralisation.
At Beadall, the company is planning to commence a reverse circulation / diamond drilling campaign next month covering 15 holes for 3000 metres, which will follow-up results from Gradient Array and Dipole-Dipole IP surveys.
Rumble is targeting copper- lead-zinc mineralisation within high grade metamorphic rocks of the Rudall Complex.
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