Results from two recent reverse circulation drilling at Chinook Prospect from the Earaheedy JV project in Western Australia have confirmed a zinc-lead discovery.
Rumble Resources Ltd (ASX: RTR) has been granted a trading suspension with a pending announcement regarding a proposed capital increase.
The stop will remain in place until the start of regular trading on Wednesday, April 28, or when an announcement is posted to the marketplace, whichever occurs first.
The shares last traded at 55 cents after hitting a new high of 59.5 cents last week, while the company’s market cap is around $ 292.7 million.
The new record came after accelerated assay results from two reverse circulation (RC) holes at Chinook Prospect from the Earaheedy JV project in Western Australia confirmed a zinc-lead discovery.
The company completed 33 holes for 3,593 meters of RC drilling on the project, including 26 holes for 2,653 meters at Chinook with assays for 24 holes pending.
Drill hole EHRC050 returned 34 meters at 4.22% zinc + lead from 66 meters, including 17 meters at 6.65% zinc + lead from 73 meters with a higher grade core zone of 14 meters at 5.02% zinc and 2.03% lead (7.05% zinc + lead) from 76 meters.
The other accelerated drill, EHRC044, returned 21 meters at 4.31% zinc + lead over 61 meters, including 10 meters at 5.02% zinc + lead over 67 meters.