Rumble Resources Acquires Thunderstorm Gold Project Ownership

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THE BOURSE WHISPERER: Rumble Resources (ASX: RTR) is set to secure 100 per cent ownership of the highly prospective Thunderstorm gold project in Western Australia.

Rumble Resources reported it has entered into an agreement to acquire the outstanding 70 per cent in three exploration tenements in the Fraser Range Province from Joint Venture partner IGO Limited to full ownership of Thunderstorm.

The Thunderstorm gold project includes the Gazelle and Pion gold discoveries.

The company explained the Gazelle and Pion gold prospects have similar characteristics to the palaeochannel/placer gold deposits of the Higginsville Gold Centre 120km south of Kalgoorlie.

A number of these style deposits were mined successfully with the main deposit, Challenger, returning over 230,000 ounces at 3.4 grams per tonne gold.

“We are pleased to have secured the balance of the Thunderstorm gold project from IGO under attractive terms,” Rumble Resources managing director and CEO Peter Harold said in the company’s ASX announcement.

“The project contains two high-grade gold discoveries at Gazelle and Pion.

“Based on this and the style of mineralisation we believe there is significant potential to discover large scale palaeochannel and primary basement hosted gold deposits.

“Our exploration team is preparing an exploration program and budget for the next phase of work which will be an infill aircore drill program at Gazelle.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE