Rumble Resources acquires 100% of Thunderstorm Gold Project

• Rumble Resources enters agreement to acquire the outstanding 70% in three exploration tenements at the Thunderstorm Gold Project from joint venture partner IGO
• Thunderstorm includes the gold discoveries at Gazelle and Pion
• The style of mineralisation at the Goldfields project is considered to have potential to host large-scale gold deposits

Special report: Rumble Resources is adding to its robust polymetallic portfolio by entering into an agreement to secure 100% of the highly prospective Thunderstorm gold project in the Goldfields-Esperance region of WA.

Rumble (ASX:RTR) will purchase the outstanding 70% in three exploration tenements from joint venture partner IGO Limited (ASX:IGO).

Located in the Fraser Range province, Thunderstorm includes high-grade gold discoveries at the Gazelle and Pion prospects.

Results from Gazelle have included 16m at 6.69g/t gold from only 42m and 6m at 9.15g/t gold from 48m.

The Pion Prospect has returned gold anomalism in six consecutive drill holes over a section length of 1.2km, with the best intersection returning 4m at 3.80g/t gold from 86m.

Large-scale potential

As well as returning high grades, the style of gold mineralisation at Thunderstorm is considered to have potential for hosting large-scale gold deposits.

Gazelle and Pion have similar characteristics to the palaeochannel/placer gold deposits of the Higginsville gold centre, 120km south of Kalgoorlie. A number of these style of deposits were mined successfully with the main deposit, Challenger, returning more than 230,000oz at 3.4g/t gold.

Additionally, wide zones of gold anomalism with the higher-grade core zones at Gazelle (16m at 6.69g/t gold) indicates a potential proximal primary basement source.

Rumble managing director and CEO Peter Harold commented: “We are pleased to have secured the balance of the Thunderstorm gold project from IGO under attractive terms.

“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.”

The purchase price of $300,000 will be paid in fully paid Rumble shares at a deemed issue price of the 5-day Volume Weighted Average Price (VWAP) immediately prior to the execution date.

Rumble will also pay a 1.05% net smelter return (NSR) royalty over tenements E28/2595 (which hosts Pion and Gazelle), E28/2528 and E28/2529.

Jewel in crown

News of the purchase comes as Rumble looks to start mining ore from its Western Queen South pit in the second half of calendar 2025 by progressing definitive joint venture and mining services agreements with strategic investor Bain Global Resources, one of the largest mining contractors in India, and MEGA, its Australian subsidiary.

Western Queen South has a resource of 1.42 million tonnes at 1.59g/t gold for an estimated 72,500oz.

The current  mineral resource estimate (October 2024) for the entire project is 4.42 million tonnes at 2.02g/t for 286,600oz.

Rumble is looking to grow the gold resource at Western Queen with targeted drilling, while also aiming for a JORC compliant maiden tungsten mineral resource estimate in 2025 at the project following the discovery of high-grade intercepts of the critical mineral.

Meanwhile, excellent results from a comprehensive metallurgical testwork program completed late last year have given Rumble a major confidence boost in its world-class zinc-lead-silver Earaheedy project.

This article was developed in collaboration with Rumble Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.