Rumble’s Dual Gold-Tungsten Strategy Faces Key Scoping Study Milestone

Metallurgical Breakthrough at Western Queen

Rumble Resources Limited (ASX:RTR) has unveiled encouraging metallurgical test results from its Western Queen Gold and Tungsten Project in Western Australia. The recent laboratory work demonstrated the ability to produce a tungsten concentrate grading 48% WO3 with a recovery rate of 45%, using a straightforward gravity separation process. Importantly, this method achieves tungsten extraction with minimal impact on gold recovery, losing less than 1% of gold to the tungsten concentrate.

The testwork, conducted by ALS Metallurgy and overseen by metallurgical consultants Scott Dalley Francks, involved two phases: initial sighter tests and flowsheet development. These efforts have culminated in a processing flowsheet that efficiently separates scheelite (the tungsten mineral) and gold, enabling the potential for a dual-commodity operation.

Strategic Integration and Processing Innovation

The flowsheet concept targets a grind size that balances optimal recovery of both metals, with gold recovered through gravity and flotation before conventional cyanidation. The tungsten concentrate can be produced via a simple 'bolt-on' gravity circuit, which could be integrated into an existing gold processing plant, reducing capital expenditure and accelerating development timelines.

Rumble has initiated discussions with Sepro Systems, specialists in modular mineral processing equipment, to explore low-cost, rapid deployment options. This approach aligns with the company’s strategy to fast-track tungsten production, leveraging the recent surge in global tungsten prices, which have soared over 500% in the past year.

Advancing the Project with a Scoping Study

Building on the metallurgical success, Rumble has commenced a scoping study focused on mining and processing the higher-grade tungsten portion of the resource, estimated at 1.44 million tonnes at 0.51% WO3. This study aims to define the optimal mining rate, processing plant size, capital and operating costs, and financial metrics under various tungsten price scenarios.

The company plans to mine tungsten concurrently with gold at Western Queen South, potentially creating a significant co-product revenue stream. Marketing efforts are underway to engage potential off-take partners, with the goal of securing concentrate buyers and refining economic models.

Outlook and Market Context

Rumble’s Managing Director, Peter Harold, emphasised the importance of these results, stating that the ability to produce a high-grade tungsten concentrate alongside gold could materially enhance project economics. With tungsten prices at historic highs due to supply constraints and increasing demand, the timing could not be better for Rumble to capitalise on this opportunity.

Further metallurgical optimisation is planned, including testing an alternative flowsheet concept that could reduce capital costs and accelerate production. The scoping study is expected to conclude by mid-2026, setting the stage for potential project development decisions.