Base and precious metals exploration company Rumble Resources (ASX:RTR) has doubled down on its Pilbara assets, acquiring the Barramine project which is contiguous to its Braeside project and may hold a continuation of highly-prospective geological structures.
The Barramine project, which is located approximately 150km from the town of Marble Bar, is prospective for copper, lead, zinc and silver and covers the northern extension of the Braeside project.
Pleasingly for Rumble shareholders, the tenements have been acquired at a significant discount, with the acquisition subject to an earn-in agreement whereby Rumble can earn a 70% interest through spending $750,000 over 3 years.
The exploration spend has been halved through renegotiation, with the company previously subject to an earn-in agreement of $1.5 million over 3 years.
The Barramine project holds two key exploration anomalies – the Camel Hump prospect and the Barramine copper pospect.
Camel Hump is a large open mineralised structure which has returned exploration highlights including 13.4% copper, 3.08% lead, 1.79% zinc and silver to 131 g/t.
The Barramine copper prospect is a fault structure hosting significant copper-bearing mineralisation, returning results as strong as 25.32% copper and 279 g/t silver.
“Rumble [is] pleased to exercise the option to acquire the high grade Barramine base metal project on more favourable terms than originally agreed,” Rumble Resources managing director Shane Sikora said.
A recent reconnaissance RC drill program at Rumble’s neighbouring Braeside project significantly identified base metal mineralisation in 17 of 19 holes and included a high-grade zinc discovery on the first ever RC drill program completed at Braeside.
“Rumble will fast track modern, systematic base metal exploration at the Barramine project to generate first order targets for drill testing,” he said.
The company has outlined further exploration activities at Barramine throughout 2018, including geochemical soil sampling, geological mapping and rock chip studies.