Rumble Resources - High-Grade Tungsten Discovery at Western Queen - 6 August 2024
RTR (RTR) Share Update August 2024 Monday 5th
Rumble Resources Unveils High-Grade Tungsten Discovery at Western Queen
Rumble Resources Limited (ASX: RTR) has announced a significant high-grade tungsten discovery from recent diamond drilling at the Western Queen South deposit.
Instant Summary:
- Exceptional high-grade tungsten (scheelite) mineralisation discovered.
- Drill-hole WQDD013 returned 4m @ 4.58% WO3, 0.72 g/t Au from 174.85m.
- Strong continuous tungsten anomaly outlined over 2km.
- Tungsten occurs at surface between Western Queen South and Central open pits with widths up to 20 metres.
- Tungsten is considered a critical and strategic material in world economies.
Discovery Details
Rumble Resources Limited has reported a significant high-grade tungsten discovery from diamond core drilling at the Western Queen South deposit. Drill-hole WQDD013 returned an impressive intersection, including 4m @ 4.58% WO3 and 0.72 g/t Au from 174.85m, with notable sub-intersections of 2.05m @ 8.71% WO3 and 1.38 g/t Au from 176.85m, and 0.65m @ 18.35% WO3 and 2.97 g/t Au from 176.85m.
The discovery was made through systematic pXRF analysis of drill hole WQDD013, followed by ultraviolet scanning that highlighted significant zones of scheelite. Wet analysis confirmed the discovery as very high-grade tungsten skarn style mineralisation.
Widespread Tungsten Mineralisation
Review of all pXRF data collected by Rumble has shown that tungsten is widespread within the Western Queen gold mineralising system. The tungsten anomaly is continuous over 2km, paralleling the Western Queen Shear and known high-grade gold mineralisation.
Tungsten occurs at the surface between the Western Queen South and Central open pits, with widths up to 20 metres. Follow-up wet assays for tungsten of selected pulps from RC drilling, which formed part of the 2021 mineral resource estimate at Western Queen, have been submitted and will be reported when available.
Significance of Tungsten
Tungsten is considered a critical and strategic material in world economies due to its economic importance, supply risk, and limited substitution options. The supply of tungsten is highly dependent on China, which produces 81% of the world's tungsten. The forecast demand for tungsten is growing, with certain projections showing robust growth rates of up to 8%.
Uses for tungsten include battery manufacturing, semiconductor production, photovoltaic cell silica wafer production, hydrogen fuel cell durability enhancement, and military applications.
The discovery of high-grade tungsten at the Western Queen South deposit is a significant development for Rumble Resources. This discovery could positively impact the company's stock price as investors recognize the potential value of the tungsten resource. The strategic importance of tungsten in global markets further enhances the significance of this discovery.
Investor Reaction:
Analysts are likely to react positively to this discovery, given the high grades of tungsten and the strategic importance of the material. The potential for further resource expansion and the added value to Rumble Resources' portfolio are key factors that could drive investor interest.
Conclusion:
Investors should closely monitor the follow-up assays and the company's strategic plans for developing the tungsten resource. Rumble Resources' ability to capitalize on this discovery will be crucial in maintaining and enhancing investor confidence.