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RUMBLE RESOURCES LIMITED — Capital/Financing Update 2014
Apr 13, 2014
65736_rns_2014-04-13_7b8b2583-f4de-47f2-9b54-93bf5d1d7efd.pdf
Capital/Financing Update
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Rumble Raises $1.8mil Fully Oversubscribed to Fund Upcoming Fraser Range Exploration
14[th] April 2014
Rumble Resources Ltd (“ Rumble ” or the “ Company ”) is pleased to announce that it has successfully completed a placement to Australian institutional and sophisticated investors to raise a total of $1.8mil by the issue of fully paid ordinary shares at $0.045 per share (“ Placement” ) together with a 1 for 2 attaching listed option exercisable at $0.08 per share expiring on 30[th] June 2015. The placement was bid strongly and was fully oversubscribed.
Placement shares are to be issued pursuant to the Company’s existing capacity under ASX Listing Rules 7.1 and 7.1A and the balance issued pursuant to 30million shares approved for placement at a general meeting held in February. The options will be issued at an upcoming general meeting with its date to be determined.
The company will now accelerate the exploration at the Zanthus and Big Red Nickel projects in the Fraser Range Province of Western Australia.
Zanthus Project, Fraser Range
The Zanthus Project consists of 957sq km’s of highly prospective tenure located 18km’s from the world class Nova Nickel Copper Massive Sulphide discovery by Sirius Resources NL. Previous exploration identified mafic and ultramafic rocks in the project area which are the host rock unit to the Nova and Bollinger nickel-copper sulphide deposits.
A geophysics program recently commenced at the Zanthus Project testing the conductive and depth levels of the Zanthus ground via a small ground based EM program. This will determine if Rumble can apply airborne or ground based geophysics. The systematic program will include geochemistry, aero magnetics and gravity exploration techniques looking to generate high priority nickel and copper sulphide targets.
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Figure 1 Image showing the location of the new Zanthus application in close proximity to Sirius Resources world class Nova nickel-copper discovery
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----- Start of picture text ----- Rumble Resources LtdLevel 1, 33 Richardson StreetWEST PERTH WA 6005T +61 8 6555 3980F +61 8 6555 3981rumbleresources.com.au----- End of picture text -----
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----- Start of picture text ----- ASX RTRExecutives & ManagementMr Shane SikoraCEOMr Terry ToppingExecutive DirectorMr Andrew McBainNon-executive DirectorMr Matthew BanksNon-executive DirectorMr Michael SmithNon-executive DirectorMr David Palumbo----- End of picture text -----
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----- Start of picture text ----- Company SecretaryMr Andrew JonesExploration Manager----- End of picture text -----
Big Red Project, Fraser Range
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The Big Red Project consists of 426sq km’s of highly prospective tenure.
Rumble recently identified a significant 2.2km bedrock conductor by completing a ground (EM) survey which represents one of the most compelling targets in the Fraser Range for Massive Nickel Sulphides. The Big Red Project hosts the same intrusive rock units which are of similar age as the Nova and Bollinger nickel-copper deposits which is important when exploring for massive nickel sulphides.
Rumble will prepare a targeted diamond drilling program focused primarily on the recently discovered bedrock conductor and the intrusive eye feature. Rumble was awarded $150,000 to co-fund exploration via WA Government’s Exploration Incentive Scheme (EIS).
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Figure 2 Big Red Project with bedrock conductor and the intrusive eye feature.
Rumble’s CEO Mr Shane Sikora said “we are delighted by the strong support received in this round of funding in a tough equity market demonstrating the strong support for our projects and management team”.
“The capital raising means Rumble can systematically explore the Fraser Range Projects looking to generate further high priority nickel and copper sulphide targets using proven exploration techniques. Rumble will use the same methodology that recently identified the 2km bedrock EM conductor on its big Red Project in the northern Fraser Range”.
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About Rumble Resources Ltd
Rumble Resources Ltd is an Australian based exploration company, officially admitted to the ASX on the 1st July 2011. Rumble was established with the aim of adding significant value to its current gold and base metal assets and will continue to look at mineral acquisition opportunities both in Australia and abroad.
Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Terry Topping, who is a Member of the Australasian Institute of Mining & Metallurgy and the Australian Institute of Geoscientists. Mr Topping is a fulltime employee of Rumble Resources Limited and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Topping consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.