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RUMBLE RESOURCES LIMITED — Capital/Financing Update 2017
Jun 26, 2017
65736_rns_2017-06-26_fecf4847-1d31-43cf-9180-4dec2846b5dc.pdf
Capital/Financing Update
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Capital Raising Completed
27 June 2017
Rumble Resources Ltd (ASX: RTR ) (“ Rumble ” or the “ Company ”) is pleased to announce that it has received binding commitments from professional and sophisticated investors for a capital raising of A$1,067,814 by way of the the issue of 35,593,809 fully paid ordinary shares at $0.03 per share (“ Placement” ).
The Placement shares will be issued within the Company’s existing capacity under ASX Listing Rules 7.1.
As part of the Placement, non-executive director Michael Smith has advised the Company that he (through an entity he is associated with) intends to subscribe for A$45,000 worth of shares on the same terms as the Placement (that is 1.5m shares). The issue of these shares is subject to the receipt of prior shareholder approval in accordance with the ASX Listing Rules. The Company intends to convene a meeting to seek the necessary approval shortly.
Rumble Resources Ltd
Suite 9, 36 Ord Street, West Perth, WA 6005
T +61 8 6555 3980 F +61 8 6555 3981
rumbleresources.com.au
Rumble Fully Funded for Braeside Staged Exploration
The capital raising further strengthens Rumble’s balance sheet and the Company is fully funded to complete all 5 stages of exploration at the Braeside project. The funds will also be utilised to support ongoing review of its current assets, new opportunities and working capital. CPS Capital (“CPS”) acted as lead manager to the Placement.
ASX RTR
Executives & Management
Systematic Exploration Process of High Grade Zinc Lead Braeside Project
The Braeside Project consists of multiple high grade Zinc, Lead, Copper and Silver deposits and occurrences associated within a major NNW fault zone within mafic volcanics and volcaniclastics over a strike of at least 60km’s The poly-metallic mineralisation has not been tested by detailed geophysics, geochemistry and has very limited historical drilling with only 10 known drill holes.
Recent Litho-geochemistry completed by Rumble suggests the mineralisation is associated with sub volcanic rhyolitic porphyry (Koongaling Felsic Volcanics) indicating potential for a VMS system capable of hosting large base metal deposit.
Rumble’s technical team lead by Technical Director Mr Brett Keillor will systematically explore the Braeside project with the intention to generate first order VMS feeder pipe targets, using proven, modern exploration techniques. Rumble is fast tracking exploration as per the stages outlined below.
| Stage | Exploration Activity | Progress |
|---|---|---|
| Stage 1 | Regional soil geochemistry (multi-element) to coverBraeside Project Area | Commencedandongoing |
| Stage 2 | Fly Airborne VTEM over the regional geochemicalbase metal trends identified in Stage 1 | Reviewing finalquotes |
| Stage 3 | Infill geochemistry over conductors (generated byVTEM in Stage 2) to rank key drill targets | Subsequent to VTEM |
| Stage 4 | Ground TEM surveys over the highest rankedconductors (drill targets) to further delineate drilltargets | Subsequenttoinfillgeochemistry |
| Stage 5 | Drill test conductive plates in order or ranking | Subject to drill targetsidentified. |
Mr Shane Sikora Managing Director
Mr Brett Keillor Technical Director
Mr Matthew Banks Non-executive Director
Mr Michael Smith Non-executive Director
Mr Steven Wood Company Secretary
These stages of exploration are anticipated to be completed over the coming months. The Company expects to complete the stage 5 drill testing of any first order (likely) VMS targets generated as a result of the exploration work prior to the end of 2017.
A detailed Braeside Project presentation can be found on the company website: http://www.rumbleresources.com.au/company_presentations.php
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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.
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