Rumble Resources Ltd (ASX:RTR) has upgraded the resource estimate for its Western Queen Project in the Yalgoo Mineral Field of Western Australia to 2.1 million tonnes grading 2.42 g/t gold for 163,268 ounces of gold.
Notably, the upgraded resource produced a 35% increase in the combined indicated and inferred resource compared to the previous estimate.
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.
Resource tabulation for the Western Queen Project
Rumble managing director Shane Sikora said: “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.
“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.”
Western Queen Gold Project – longitudinal section of resources, previous mining and near deposit exploration potential
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 resource, highlights the potential to discover new deposits throughout the immediate Western Queen Gold Project area.
The Western Queen Project has three nearby operating gold processing mills. The closest mill is the Dalgaranga Mill (48km) which has a capacity of 2.5 Mtpa.
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.
Sternship Advisors have been engaged to help Rumble complete a strategic review looking at optionality for the project.