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RUMBLE RE
Multiple avenues to disco
MINING | RUMBLE RESOURCES
ESOURCES
overy in Western Australia
When founding member of Rumble Resources Shane Sikora took over as managing director of the Australian explorer in mid-2015, his first remit was to identify a technical leader with the necessary experience to propel the company towards a mineral discovery in Western Australia. When he was introduced to revered WA-based exploration geologist Brett Keillor, he quickly realised that he had found the ideal candidate. Twice AMEC Prospector of the Year, first in 1998 for his central role in the Marymia discovery, and again in 2012 for his involvement in the discovery of the Tropicana Gold Deposit, Keillor was also an early stage founder in Resolute Mining and Independence Group (IGO). Both companies saw their stocks soar due in large part to Keillor’s exploration success and the subsequent delivery of large-scale operating mines. “What’s really impressive about Brett’s experience is that he is an early stage investigational explorationist who has made multiple major discoveries that have turned into mines. Equally as important, he has been with companies all the way through to mining, which provides a very unique and valuable skillset,” says Sikora. “He came on board at Rumble roughly the same time I did as MD. We formed a team and decided from there to build a unique strategy to utilise our skillsets. My role is to finance and bring in assets, manage public relations and compliance, while Brett focuses on his technical capabilities and making discoveries.”
MINING | RUMBLE RESOURCES
While this double act is a key component of the Rumble package, Sikora confirms he and Keillor are buttressed by a strong board and equally talented field team that believes in the company’s philosophy. He also believes that together they have cultivated an open and exciting culture that permeates all levels of the business.
Multiple avenues to discovery A quick glance at Rumble’s current portfolio reveals a distinct strategy, and that is to pursue multiple base and precious metals projects in WA. When asked why the company has favoured this route as opposed to developing a single asset, Sikora explains that making discoveries is difficult. “From Brett’s experience and the work I’ve done in the industry, giving yourself multiple opportunities is the best way to make discoveries, so we’ve gone for that de-
risked approach. What we
“We call this ‘drill to kill’.
do is quite unique; low cost
We drill test the generated
The Western Queen
optionality up front, a small
targets in the first year and if
The Western Queen Gold
option fee over several years
it kills the project we move
Project is Rumble’s near-term
with a balloon payment at the
on with minimal spend. If
production asset located
back end.”
the drilling is successful, the
within the Yalgoo Mineral
projects progress along the
field, 110 km from Mt Magnet
Rather than buy a project
development pipeline. Fast
and within a 110 km radius
upfront, which is cost-dilutive
forward three and a half years
of three operating gold
and by no means a guarantee
and we have now advanced
processing mills.
of exploration success, Rumble
five assets which we believe
affords itself the opportunity
are near-term discovery.”
The project contains two
to generate targets and drill
historic high-grade gold
test them in that crucial first
deposits – the Western Queen
year.
MINING | RUMBLE RESOURCES
RGN editor Jacob Ambrose Willson interviews Rumble Resources managing director Shane Sikora, July 21, 2020
Central (WQC) mine and the
intercepting a pegmatite dike
resource extensions at depth
Western Queen South (WQS)
which was thought to close
and multiple repetitions of
mine – with a combined
off the high-grade gold shoot.
the WQC along strike, as these
historic production of 880,000
Similarly, WQS was kicked
deposit types typically form
tonnes at 7.6 g/t gold for
down the road after its former
multiple gold shoots.
215,000 oz.
owners completed two smaller open pit operations.
WQC was mined around 20
“Throughout the DD process we also identified a chance
years ago by a company called
“We picked up the project
of monetising the existing
Equigold, who extracted
as our initial assessment
open pittable resource, which
high-grade gold from an
indicated most of the historic
is 83,000 oz at 3.6 g/t at WQS.
open pit at 9 g/t followed by
drilling was focused on the
With the current gold price
an underground operation
pits. We completed some deep
and three hungry mills in the
at 10 g/t. The underground
due diligence and could clearly
area, there is an opportunity
operation was closed after
see the potential for WQC
to seek a joint venture to mine
BRETT KEILLOR, RUMBLE RESOURCES TECHNICAL DIRECTOR
RU M B L E RES O U R C ES
these resources while we focus
at depth at the WQC and,
on finding high-grade gold
of geological importance,
resources.”
identified that the high-grade
AT A G L A N C E
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MARKET CAPITALISATION
US$60.7 million (as of August 05, 2020)
j a
gold is hosted in tremolite As part of its systematic
skarn shoots within the
exploration approach at the
mineralised shear zone. We
project, drilling was completed
now believe the WQ shear
over two stages to ascertain
zone could host a series of
the prospectivity and build a
high-grade gold deposits in
geological understanding of
tremolite skarn shoots similar
the mineralisation.
to WQC.”
“The first two stages of drilling
Armed with this new
identified six compelling
geological understanding
high-grade gold shoot targets,
and high-grade gold drill
extended the high-grade gold
results to date, the company is
MINING | RUMBLE RESOURCES
SHANE SIKORA , RUMBLE RESOURCES MANAGING DIRECTOR
confident it is now zeroing in
been properly tested before,
North and South mineralised
on the high-grade gold shoot
based on Rumble’s new
WQ shear zone extensions
discoveries. In June, Rumble
interpretation of the location
of the main project area,
commenced a 12,000 metres
of WQ Shear Zone. This
expanding the strike to 35 km.
drill programme, the largest
informed Rumble’s decision
No previous drilling has tested
in the company’s history, with
to significantly increase its
the newly inferred position
the aim to start defining high-
landholding by 500%, which
of WQ shear zone North and
grade resource extensions
was confirmed in July.
South, providing an expansive
at depth by stepping down
new area for targeting high-
the shoot beneath the WQC
“The original Western Queen
deposit and targeting multiple
main project area had a 5.5
high-grade shoot discoveries
km North-South trending
Sharing the load
along strike.
mineralised shear zone which
Forming JVs is something the
hosts the WQC and WQS
company has successfully
In addition, the company
deposits. We secured the
executed at other assets in
felt that the ground to the
highly prospective contiguous
the portfolio, not least at
North and South had not
grade gold discoveries.”
its projects in the highly
and basement
prospective Fraser Range
gold, which is also
region of WA. Rumble has
subject to this round
partnered with Keillor’s
of drilling in the
former employer IGO, who
September quarter.
have earned a 70% interest in Rumble’s Fraser Range
Rumble’s other JV
tenements, with Rumble free
project in WA is
carried to completion of a pre-
hugely exciting, so
feasibility study.
much so that Sikora admits it keeps him
“We’ve got two projects
up at night due to the
with IGO – one called the
potential scale and
Thunderdome, where IGO has
the ultimate prize.
already generated 12 km of
It is called the Lamil
discoveries, and our Lamil
copper-zinc anomalies with
project in Paterson Province,
project is located between the
multiple conductors beneath
an area which is long thought
Nifty and Telfer mines. With
them. There are also multiple
to be rife for new discoveries.
Brett’s exploration nous, he
magnetic gravity feature
identified that there was a
targets which have similar
The province is a globally
chance to have shallow Tier 1
features to that shown in the
recognised mineralised belt
targets on our project.
pre-discovery at the nearby
hosting the 32 Moz Telfer
Mawson deposit by Legend
copper-gold deposit and the 2
“To scope the potential of
Mining. IGO are scheduled in
Mt Nifty copper mine. More
the project, we completed
the September quarter to drill
recently, Rio Tinto made the
an airborne magnetics
test those Tier 1 targets.”
Winu discovery and Greatland
programme which identified
Gold discovered Haveiron,
what we think is the best
Further South at Fraser Range
which was recently acquired
undrilled target in the
is the Thunderstorm project,
by Newcrest.
Paterson Province called the
which has also received early
Lamil Dome, which has similar
stage drilling from IGO. In
“In the Paterson Province
dome size, trend and host
their first stage of drilling, IGO
you’ve got four Tier 1 projects,
rocks to the Telfer deposit.”
found 13 km of paleochannel
two of which are new
MINING | RUMBLE RESOURCES
they’ve gone ahead
discoveries, advancing a series
and assembled
of projects which are now near
a formidable
term to discovery.
exploration team. “We have near-term leverage to
Experienced Australian
“They’ve completed
exploration success with three
passive seismic,
major drilling programmes
gravity and micro
commenced or planned,
soils and reworked
targeting high grade gold at
the regional seismic
the Western Queen, Tier 1
data and airborne
nickel-copper and gold targets
magnetics. Every
in the Fraser Range and Tier 1
single test along
gold and copper targets at the
the way has been a
Lamil Project in the Paterson
tick to suggest there
Province,” Sikora summarises.
explorer AIC Mines soon
is an intrusion at that Lamil
signed a JV deal which will see
dome, all while generating
The company’s de-risked
them spend $6 million to earn
a multitude of new targets
exploration strategy is
50% in the Lamil project, at
with the potential for Tier 1
paving the way for multiple
which point Rumble has the
discoveries.”
avenues to discovery in WA
ability to co-contribute and
– a jurisdiction with world-
retain 50% of the project– a
AIC recently announced they
class resources, facilities and
rare outcome in the industry
are scheduled to complete
service providers, with major
according to Sikora.
the exciting maiden drill
discoveries continuing to be
programme at the Lamil
made. Following a $6 million
Project in September.
capital raise in June, Rumble
“Our JV partner AIC indicated they would put together a
is well cashed up to continue
of discovery specialists with
Discovery ready in WA
a wide range of technical
Over the last three and a half
heavy lifting at the Fraser
expertise to give us the
years, Rumble has executed its
Range and Lamil projects.
best chance of making a
strategy of generating a packed
significant discovery and
pipeline capable of world class
highly credentialled team
drilling at Western Queen, while its JV partners do the
Published by Anderson Murray Media Ltd
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