Rumble Resources Ltd (ASX:RTR) is trading higher after hitting a wide, shallow zone of high-grade zinc and lead within the recently discovered Kalitan Feeder Zone at the Chinook zinc-lead-silver-copper prospect.
Chinook forms part of the emerging, world-class Earaheedy Base Metals Project in Western Australia and represents a strong multi-commodity exploration target.
Recently, a drill hole within the Katilan Feeder Zone returned 51 metres at 4.76% zinc and lead and 5.81 g/t silver from 82 metres, including 20 metres at 8.78% zinc and lead and 11.65 g/t silver from 98 metres.
This result included 8 metres at 14.61% zinc and lead and 17.7 g/t silver from 104 metres, as well as 8 metres at 5.53% zinc and lead and 5.08 g/t silver from 124 metres, further confirming the wide, shallow mineralised zone.
Shares up
Shares have been as much as 25.35% higher intraday to A$0.47 while RTR's market cap is approximately A$266.33 million.
Thanks to recent exploration, the Kalitan Feeder Zone remains open along strike and at depth, running for 2.3 kilometres of strike within Chinook’s 4.1-kilometre by 1.9-kilometre mineralised footprint.
Looking ahead, initial reverse circulation (RC) and diamond drilling is planned to investigate Katilan’s dimensions and underlying formations in the hopes of uncovering copper-zinc-lead-silver deposits.
What’s to come?
While Rumble gears up for work in 2022, it’s tying up the final round of exploration results from last year.
To date, more than 50% of the assays from its 50,000-metre drill program in 2021 remain pending.
In particular, Rumble is waiting on results from four holes that are thought to intersect the Kalitan Feeder Zone.
In 2022, Rumble plans to execute a series of exploration campaigns across its multi-commodity portfolio.
This includes RC, infill extensional and diamond core drilling at Chinook, scoping drill works at the Tonka-Magazine-Navajoh prospects and heritage and geochemical surveys over the Sweetwater tenements.
About Earaheedy
Rumble’s work at Earaheedy centres on a major zinc-lead exploration target, comprising between 100 million to 120 million tonnes of resource at a grade ranging between 3.5% to 4.5% zinc-lead sulphide.
The exploration target is shallow in nature and runs over 40 kilometres of prospective strike that remains completely open.
While conceptual in nature, Rumble believes the exploration target is shaping Earaheedy into an emerging, world-class base metal system.
Since the Chinook discovery in April 2021, a scoping drilling campaign has continued to make new findings and unearth multiple, large-scale targets for future exploration.