Rumble Resources has launched a major drilling campaign at its Western Queen project to expand gold and tungsten resources, while advancing underground mining plans and securing $9 million in fresh capital.
- 20,000m diamond drilling program underway targeting gold and tungsten resource growth
- Maiden tungsten resource announced, 4.31Mt @ 0.31% WO3 for 13.2kt WO3
- Underground mining preferred over open pit due to stronger economics
- Non-binding MoU signed with Gylden Resources for ore processing at Kirkalocka
- Internal scoping study on Earaheedy zinc-lead-silver project nearing completion
Western Queen Drilling Campaign Kicks Off
Rumble Resources Limited has commenced a substantial diamond drilling program at its Western Queen Gold-Tungsten Project in Western Australia, aiming to extend and upgrade its mineral resources. The campaign, involving up to 20,000 metres of drilling, targets high-grade down-plunge extensions of the Western Queen South and Central gold deposits, which currently hold a combined resource of 3.72 million tonnes at 3.1 grams per tonne gold, equating to approximately 370,000 ounces.
Alongside gold, the drilling seeks to expand the recently announced maiden tungsten resource of 4.31 million tonnes at 0.31% tungsten trioxide (WO3), containing 13,200 tonnes of WO3. This tungsten mineralisation is spatially associated with the gold lodes and remains open along strike and at depth, offering promising upside potential.
Strategic Shift to Underground Mining
Following updated mining schedules and economic assessments, Rumble has identified underground mining as the preferred development pathway over open pit options. An internal scoping study indicates superior economics for underground extraction of both Western Queen South and Central deposits. This pivot reflects a strategic approach to optimise project returns and manage capital requirements effectively.
Permitting efforts continue in parallel, with submissions for open pit mining permits already lodged and under review. The company is also exploring the possibility of selling an additional gold royalty to raise upfront cash while minimally impacting future cash flows.
Ore Processing and Capital Raising
Rumble has signed a non-binding Memorandum of Understanding with Gylden Resources to potentially toll treat ore from Western Queen at Gylden’s Kirkalocka processing plant. A draft toll treating agreement is under review, which could provide a cost-effective processing solution and accelerate project development timelines.
On the corporate front, the company successfully raised approximately $9 million through a two-tranche placement and an oversubscribed entitlement offer, bolstering its cash position to around $5 million at quarter-end. This capital injection supports ongoing exploration, drilling, and development activities.
Progress at Earaheedy and Other Projects
Rumble is nearing completion of an internal scoping study on its Earaheedy Zinc-Lead-Silver Project, which will provide a preliminary economic assessment to guide future development decisions alongside joint venture partner Zenith Minerals. Exploration across other projects in Western Australia, including lithium and base metals targets, remains active but with limited significant activity during the quarter.
Recent board changes include the appointment of Geoff Jones as Non-Executive Chairman, bringing experienced leadership as Rumble advances its portfolio.
Bottom Line?
As drilling results and scoping studies unfold, Rumble’s strategic focus on resource growth and underground mining could reshape its development trajectory and market positioning.
Questions in the middle?
- How will upcoming drilling results impact the size and classification of Western Queen’s gold and tungsten resources?
- What are the detailed economic implications of the underground mining option versus open pit for Western Queen?
- How will the potential gold royalty sale and ore tolling agreement influence Rumble’s financing and project timelines?