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the Rumble Resources Ltd. The stock price (ASX: RTR) is advancing in afternoon trading, up 6% after recording gains of more than 8%.
Below, we take a look at the latest analysis results from the Mineral Explorer, which appear to be of interest to ASX investors.
What analysis results did Rumble report?
Rumble Resources share price is up today after the company announced promising first assay results from its Chinook Zinc-Lead discovery drill program, on its Earaheedy project in Western Australia.
According to the statement, four reverse circulation (RC) drill holes from the recently started 30,000 meter campaign confirmed large areas of mineralization. The results increased the continuous footprint of zinc-lead mineralization by 125%, to an area of ââ3 kilometers by 1.8 kilometers.
To date, only 2,500 meters of the 30,000-meter drill program have been completed. The company said 2 more RC drills will join the only rig currently on site in the coming weeks to speed up the campaign.
Among other results, Rumble reported these “very large intersected widths of Zn-Pb-Mn-Ag oxide mineralization near surface” from the up-dip position of the southwest margin:
– 49m @ 2.45% Zn + Pb from 18m (0.5% Zn + Pb Cut-Off)
- including 38m @ 2.78% Zn + Pb, 4.6% Mn, 2.9g / t Ag from 23m
- with 9m zone @ 3.67% Zn + Pb, 7.44% Mn, 3.6 g / t Ag of 46m
Commenting on the early results, Rumble Resources Managing Director Shane Sikora said:
It is important to understand that we are not doing infill drilling, and the first key step we are currently taking to advance Chinook’s zinc-lead discovery is extensive and spaced drilling in new areas untested by research. edges of the mineralization. Once the mineralization limits are defined, drilling will then shift to focus on presumed feeder structures containing Zn-Pb-Mn-Ag mineralization near surface and at higher grade …
With each drill hole, we are collecting more data and our understanding of the geology of this very large base metal system hosted in the sediment continues to improve. This, combined with our geophysical targeting methods, will allow us to target the higher grade feeder structures believed to be contained within this very large body of mineralization.
Rumble Resources Share Price Snapshot
Over the past 12 months, the Rumble Resources share price has risen 243%, well outpacing the 27% gains posted by the Index of all ordinary (ASX: XAO).
So far this year, Rumble Resources’ share price has been performing very well, rising 329% so far in 2021.