THE BOURSE WHISPERER: Rumble Resources (ASX: RTR) informed the market it has submitted two strategic exploration licence applications adjoining the company’s Big Red project and contiguous to new applications made by the world’s second biggest producer of nickel, Vale in the Fraser Range in Western Australia.
Rumble reported Vale has recently applied for two license applications south of its Big Red project and east of the Thunderstorm project in the Fraser Range, which the company declared has highlighted the quality of rumbles projects.
Source: Company announcement
Vale owns Voisey’s Bay – one of the largest nickel mines in the world.
Rumble considers Vale’s entry into the region underlines the potential of the Fraser Range to host additional magmatic nickel copper mineralisation in the region.
The two new applications increase the Big Red project to 1491 square kilometres while expanding Rumble’s Fraser Range foot print by 71 per cent.
“Rumble secured this license for nil consideration and will continue to strategically expand its foot print providing Rumble shareholders multiple opportunities to make the next significant nickel discovery,” Rumble Resources said in its ASX announcement.
“Rumble has gained approvals to drill the compelling Voisey Bay style target at Big Red and is in final stage discussions with drilling contractors.
“Drilling is expected to commence in three to four weeks.”