Announcement PDF ABN 74 148 214 260 & Controlled Entities Annual Report For the year ended 30 June 2024 Rumble Resources Ltd & Controlled Entities CONTENTS Review of Operations 4 Mineral Resources Statement 22 Directors Report 27 Remuneration Report 34 Directors Report Declaration 39 Auditor’s Independence Declaration 40 Consolidated Statement of Profit or Loss and Other Comprehensive Income 41 Consolidated Statement of Financial Position 42 Consolidated Statement of Changes in Equity 43 Consolidated Statement of Cash Flows 44 Notes to the Consolidated Financial Statements 45 Directors Declaration 67 Independent Audit Report 68 ASX Additional Information 74 Rumble Resources Ltd & Controlled Entities CORPORATE DIRECTORY PRINCIPAL AND REGISTERED OFFICE Rumble Resources Ltd Level 1, 16 Ord Street West Perth WA 6005 Tel: 08 6555 3980 Fax: 08 6555 3981 Email: info@rumbleresources.com.au Web: www.rumbleresources.com.au DIRECTORS Peter Harold - Managing Director & CEO – appointed 12 February 2024 Peter Venn – Non-executive Director up to 29 September 2023. Appointed Interim Managing Director from 29 September 2023 to 12 February 2024. Appointed Technical Director from 12 February 2024. Shane Sikora – Managing Director – resigned 29 September 2023 Matthew Banks – Non-Executive Director Michael Smith – Non-Executive Director Geoff Jones – Non-Executive Director COMPANY SECRETARY Steven Wood Trevor Hart - appointed 16 January 2024 STOCK EXCHANGE SHARE REGISTRY STOCK EXCHANGE CODE – RTR Automic Group Australian Securities Exchange Limited Level 5,191 St Georges Terrace Level 40, Central Park Perth WA 6000 152-158 St Georges Terrace Tel: 1300 288 664 Perth WA 6000 www.automicgroup.com.au AUDITORS BANKERS Hall Chadwick WA Audit Pty Ltd Westpac Banking Corporation 283 Rokeby Road Level 13, 109 St Georges Terrace Subiaco WA 6008 Perth WA 6000 LAWYERS Steinepreis Paganin Level 14 – QV/250 St Georges Terrace Perth WA 6000 Mining Access Legal Level 1, 1 Adelaide Terrace East Perth WA 6004 Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS REVIEW OF OPERATIONS Rumble Resources Limited (Rumble and/or the Company) continued with activities to advancement the large-scale Earaheedy Zn-Pb-Ag discovery, 110km northeast of Wiluna in Western Australia during FY24 Reverse circulation drilling at the Mato Prospect, 10km west of the Chinook Deposit and within Rumble’s 100% controlled tenement E69/3787, confirmed a significant new Zn-Pb discovery with the potential to add substantially to the existing pit constrained Inferred Mineral Resources at Earaheedy. The new Mato discovery has all the hallmarks of a large mineralised system that will likely enhance future economic studies and provides further support to Earaheedy developing into a world class base metal camp. In October 2023 the Company acquired four exploration tenements in the Earaheedy Basin from Blaze Minerals Ltd for $250,000 worth of Rumble shares. The acquisition added a further 30km of the laterally extensive Navajoh Unconformity Unit, which hosts the current deposits at Chinook, Tonka – Navajoh and mineralisation at the recently discovered Mato Prospect. The Earaheedy Project has exceptional near-term growth potential with the deposits open in all directions, and less than 30% of the 70km mineralised Navajoh Unconformity Unit effectively drill tested. In December 2023, 10 PQ holes were completed to provide representative intervals of Zn-Pb mineralisation along and across the strike of the Chinook deposit at Earaheedy. Over two tonnes of mineralised drill core was collected for further metallurgical work including flotation beneficiation and comminution testing prior to scoping level studies planned to commence in FY25. Results of this metallurgical campaign at Chinook will be reported during the first half of FY25. Whilst the Company remains focused on progressing the potentially world class Earaheedy Zn-Pb-Ag Project, during the year an opportunity to revisit the 100% Rumble controlled Western Queen Gold Project occurred following the surge in the the price of gold and further positive developments at Spartan’s Dalgaranga Gold Project, approximately 40km south of Western Queen. Between May and July 2024 a reverse circulation/diamond drilling program tested down dip/plunge of a series of open, high-grade gold lodes at the Western Queen South deposit. This work not only confirmed the extension of the existing lodes but uncovered a potentially new parallel lode at Western Queen South. Work has now commenced on an updated Mineral Resource Estimate (MRE) for the Western Queen area that is open over a 2.7km strike and remains largely untested below 100 metres vertical depth. This revised MRE and associated optimisation studies are due to be completed in the December quarter of FY25. Historically, the Western Queen area has produced over 215,000oz @ 7.6g/t gold and has current open pit and underground resources of over 163,000oz of gold on existing Mining Leases, and near several gold plants in the region. The Company’s primary focus is to monetise these resources through development in the next 12-18 months. As a postscript to the gold developments at Western Queen, a spectacular high-grade tungsten (scheelite) intercept (4metres @ 4.58% WO3) was recognised and reported in August 2024 from one of the recently completed diamond holes at Western Queen South. In September 2024, following the analytical testing of pulps from seven selected RC holes drilled by Rumble in 2021, the Company confirmed a potentially significant tungsten discovery that parallels the Western Queen gold mineralisation, and could represent a significant future value add on to the near-term development options for the project. –4– Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Earaheedy Zn-Pb-Ag Project, Wiluna, Western Australia The emerging, potentially world class Earaheedy Zn-Pb-Ag Project is located 110km northeast of Wiluna, Western Australia. The project includes tenement E69/3464, which forms the Rumble Resources Ltd 75% / Zenith Minerals Ltd (Zenith) 25% Joint Venture (“JV”) and tenements E69/3787, E69/3862, E69/4124, E69/3815, E52/3879 and E69/3842, which are 100% owned by Rumble (see Figure 1). Figure 1 - Earaheedy Project – Prospectivity Map - highlighting area of maiden MRE and location of Mato Prospect Mato Zn-Pb-Ag Prospect Discovery During the year, the Company made a significant Zn-Pb-Ag discovery at the Mato Prospect, located 10km west of the Chinook Prospect at the Earaheedy Project. Preliminary drilling at Mato has defined high-grade mineralisation extending up to 1,600m across strike and 350m along strike and remains open in all directions (see Figure 2 and Figure 3). The latest drilling highlights a potential 3km x 3km area of high-grade Zn-Pb mineralisation at Mato, which is highly prospective, up dip to the southwest and along strike, and likely to lead to additional resource growth at Earaheedy. Significant assay intersection at Mato include: (refer to ASX releases dated 17 July 2023, 5 October 2023, 31 October 2023 and 21 February 2024): • 16m @ 5.09% Zn + Pb from 153m (EHRC733), including 10m @ 7.05% Zn + Pb from 157m • 29m @ 3.12% Zn + Pb from 174m (EHRC734), including 14m @ 5.04% Zn + Pb from 183m • 9m @ 4.89% Zn + Pb from 180m (EHRC738), including 4m @ 7.93% Zn + Pb from 183m • 12m @ 6.07% Zn + Pb from 146m (EHRC776), including 8m @ 8.71% Zn + Pb from 148m • 19m @ 4.23% Zn + Pb from 119m (EHRC778), including 12m @ 5.28% Zn + Pb from 119m • 13m @ 3.31% Zn + Pb from 145m (EHRC783), including 6m @ 6.95% Zn + Pb from 145m • 12m @ 3.04% Zn + Pb from 122m (EHRC788), including 7m @ 4.40% Zn + Pb from 124m • 8m @ 2.91% Zn + Pb from 158m (EHRC777), including 3m @ 6.65% Zn + Pb from 158m –5– Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Preliminary geological interpretation of the drilling has highlighted multiple faults, interpreted to potentially represent feeder structures that control the distribution of higher-grade Zn-Pb sulphide mineralisation throughout the Mato Prospect area (see Figure 3). The feeder faults and high-grade mineralisation at the Mato Prospect is inferred to strike northwest, though further extensional drilling along strike is required to confirm the trend. Figure 2 - Mato Prospect discovery area and location of Section 1 – RC drill hole locations and assay results Figure 3 - Mato Prospect – Section 1 – Drill hole assays results and interpreted geology and structure. Note: see Figure 2 for Section 1 location –6– Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Chinook Metallurgical Diamond Drilling During the year, the Company completed 10 PQ3 diamond holes for 1,462.7m within E69/3464 (75%Rumble/25%Zenith) and E69/3787 (100% Rumble), which yielded an estimated 2,300kg of representative metallurgical core sample. The completed metallurgical drilling focused on the Chinook Prospect, which has a contained inferred sulphide resource of 63Mt @ 3.0% Zn+Pb and 4.6g/t Ag (at a 2% Zn+Pb cutoff), refer to ASX release dated 19 April 2023. The metallurgical core samples were used for pilot beneficiation trials, including dense media separation (DMS) and sensor ore sorting, that will assess the potential to upgrade the significant volumes of lower grade Zn-Pb mineralisation highlighted within the pit constrained MRE, comminution test work, and further detailed mineralogy and flotation mineralisation testing, for future planned scoping level studies. Metallurgical test work trials are ongoing at the end of the reporting period and are expected to be completed in the first half of FY25. Chinook Exploration Incentive Scheme Funded Diamond Hole During the year, the Company completed a deep stratigraphic diamond hole at the Chinook Prospect cofunded (50/5) through the WA Department of Mines and Petroleum Exploration Incentive Scheme (EIS). The hole was drilled to a final depth of 760m and represents the first deep diamond drilling by Rumble within the Earaheedy Project and provides the first continuous stratigraphic hole of the lower Yelma Formation stratigraphy. Ongoing interpretation of the diamond core will assist Rumble in understanding the key stratigraphic, geochemical, and structural architecture of the Iroquois Carbonate stratigraphy and aid in vectoring towards new high-grade feeder fault MVT related mineralisation. Strategic Earaheedy Basin Acquisition The Company completed a strategic acquisition of four prospective Exploration license’s E69/3815, E69/3842, E69/3889 and E52/3879 have been acquired with 100% title from Blaze Minerals (Blaze) and are located along strike from Rumble’s Earaheedy Zn-Pb-Ag Project (see Figure 4). The acquisition substantially enhances the exploration search footprint with the highly prospective tenure lying over significant inferred portions of the western continuation of the Navajoh Unconformity, which is considered the main target unit associated with the Chinook-Tonka-Navajoh Zn-Pb-Ag deposits. E69/3815 lies only 1.3km along strike from the newly discovered Mato Prospect where a single RC drill-hole intersected 16m @ 5.09% Zn + Pb including a higher-grade zone of 10m @ 7.05% Zn + Pb (EHRC733) – refer to ASX release dated 17 July 2023. Note that post acquisition and after completing a desktop review, the Company decided to relinquish E69/3889. Figure 4 - Tenement Status plan over Regional Geology - Earaheedy Project –7– Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Western Queen Au Project, Mt Magnet, Western Australia The Western Queen Gold Project lies 110km NW of Mt Magnet within the Yalgoo mineral field of Western Australia and is comprised of two mining leases M59/45 and M59/208 which are 100% owned by Rumble. The Western Queen Project has three nearby operating gold processing plants (see Figure 5). The closest plant is Dalgaranga (48km) which has a capacity of 2.5 Mtpa. The Checkers Plant (Mt Magnet) has a capacity of 1.9 Mtpa and the Tuckabianna Plant has a capacity of 1.2 Mtpa. These facilities provide the possibility for near term toll treating production. During the year, the Company completed an extensive desktop review and targeting exercise on the Western Queen Project, which highlighted the excellent near-term potential to build on the current mineral resource base of over 163,000oz Au. As a result of this review and supported by the recent surge in the gold price, the Company decided to commence exploration at Western Queen immediately. Figure 5 – Location of the Western Queen mining license’s and Wardawarra Project and nearby gold processing facilities –8– Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Mineralisation Extension at Western Queen South Four diamond drillholes for a total of 1125m were completed at the Western Queen South Deposit (see Figure 6), targeting extensions to mineralisation and to test an interpreted steep plunge orientation beneath WQRC188 which returned multiple high grade intersections including (refer to ASX release dated 3 February 2021): • 5m @ 38.76 g/t Au from 193m; and • 3m @ 5.68 g/t Au from 210m; and • 17m @ 5.7 g/t Au from 221m Results of the extensional diamond drilling included: WQDD013 intersected two new gold zones that may represent a previously unknown shallow (30-40o) south plunging high-grade mineralised lode at depth. WQDD013 intersected: • 5m @ 5.02g/t Au from 216m and 16m @ 1.32g/t Au from 264m WQDD014 has confirmed continuation of the previously delineated gold mineralisation. WQDD014 intersected: • 29m @ 1.75g/t Au from 202m,including 12m @ 3.5g/t Au from 208m Hole WQDD015 targeted a 60m down-plunge extension of the high-grade Western Queen South gold lode. During drilling, WQDD015 lifted uncontrollably from an initial -61° dip to finish at close to -50° dip at end of hole (10° lift). This resulted in the actual pierce point being some 37m above the planned high grade target and ultimately the drill hole intersecting a lower grade domain evident in the returned assay result of 7m @ 1.53g/t Au from 265m. Figure 6 - Western Queen South pit long section with results from 2024 drilling over gram x meter contours –9– Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Rumble’s exploration focus at Western Queen is to test for the potential of high-grade shoots along the currently defined 2.7km mineralised zone within the mining leases M59/45 and M59/208 with a current focus on the area between Western Queen South and the Western Queen Central (see Figure 7). This includes diamond core drilling to delineate and further extend known and recently delineated high-grade gold mineralisation below the Western Queen South Deposit. Drilling is expected to commence during the December quarter 2024. Additionally, aided by recent the drilling and improved lithostructural understanding, Rumble will complete a revised Mineral Resource Estimate with updated open pit and underground stope optimisations using closer to spot gold prices compared to the A$2,700 applied in the 2021 MRE. Rumble is also reviewing options for finding a partner to fast-track open pit mining at Western Queen. Duke Prospect RC Drilling At the Duke Prospect, six RC holes for 414m were drilled, targeting the up-dip and up-plunge position of an open intercept of 8m @ 7.22g/t Au in WQRC026, (refer to ASX release dated 20 May 2020), approximately 150m north of earlier drill delineated high-grade shoots that are located just north of the Western Queen Central mine. Drilling intercepted the expected host mineralised sequence of strongly sheared and biotite altered ultramafic with gold anomalism intercepted and associated with silica and sulphide alteration in WQRC192. A thick quartz-muscovite bearing pegmatite intrudes the host mineralised sequence and has been interpreted to have effectively “stoped out” the mineralisation in the other five holes drilled. Despite this, the interpreted mineralised structure is open for at least 500m to the north with only shallow RAB drilling having previously tested these areas. A current geological mapping and geochemical sampling program will be utilised to target future drill positions. Geochemical soil sampling - Regional Western Queen Soil sampling has been completed across target greenstone lithologies within leases M59/45, M59/208 and north across E20/967. Results are expected in October 2024. Results will assist in future exploration activities in the area. Figure 7 - Western Queen Gold Project – longitudinal section of resources, previous mining and near deposit exploration potential – 10 – Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Western Queen Tungsten Discovery On 2 September 2024 Rumble announced: • Tungsten assays received from selected drill pulp samples from seven holes drilled in 2021 confirmed a potentially significant high-grade tungsten discovery at Western Queen. Significant assay intersections include (see Figure 8): • 4.05m @ 4.58% WO3, 0.72 g/t Au from 174.85m; including o 2.05m @ 8.71% WO3, 1.38 g/t Au from 176.85m; and o 0.65m @ 18.35% WO3, 2.97 g/t Au from 176.85m • 12m @ 0.56% WO3 and 0.46g/t Au from 69m (WQRC032) o including 2m @ 2.48% WO3 and 0.12g/t Au from 70m • 3m @ 0.69% WO3 from 90m and 2m @ 1.55% WO3 from 159m (WQRC101) • 12m @ 0.34% WO3 and 3.22g/t Au from 202m (WQRC178) o including 7m @ 0.49% WO3 and 4.71g/t Au from 206m • 2m @ 0.75% WO3 and 0.48g/t Au from 81m (WQRC019) Further work is planned to re-assay drillhole samples collected in 2021 and to log and assay historic drill core for tungsten mineralisation. The Company believes a significant tungsten resource might exist at the Western Queen Project. Figure 8 - Western Queen Tungsten contours and results from 2024 drilling and first round of pulp assays of previous RC drilling – 11 – Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Wardawarra Ni-Cu-Co-Li-Ta-Nb-Sn-Au Project, Mt Magnet, Western Australia During the year the Company undertook a desktop review and field reconnaissance program to better understand the Lithium-Caesium-Tantalum (LCT) and nickel-cobalt-copper-PGE potential of the Wardawarra Greenstone Belt. Current prevailing market conditions are strained for both lithium and nickel and as such the Company has deferred the planned exploration program until market improvements are recognised. Western Pegmatite Zone and Lithium Creek Prospect The Western Pegmatite Zone is a 6km long trend containing abundant poorly outcropping pegmatites situated directly north of the Western Queen gold resource (see Figure 9) within E20/967. The pegmatites occur adjacent to the Western Granite-Yinga Ultramafic Complex contact as well as within both the ultramafic and granite units. The surface expression of the numerous pegmatite dykes are up to 15m wide in poorly preserved (weathered) outcrop. Often only a central quartz core is outcropping and is surrounded by a 200300m area of pegmatite float, suggesting that that the pegmatites may have substantial true thicknesses. This large Western Pegmatite Zone trends predominantly to the northwest. Limited field reconnaissance and rock-chip sampling indicates the system may have a fractionation trend towards the south, where the highest fertility (K/Rb ratios under 20) occur. The Lithium Creek Prospect is located 600m north of the Western Queen Central open pit, on Mining Licence M59/208 (100% Rumble) and within the most fertile portion of the Western Pegmatite Zone (see Figure 9). Numerous northwest trending, poorly outcropping pegmatites occur throughout the area, which are greater than 15m wide and have fractionated pronounced quartz cores. One pegmatite at the Lithium Creek Prospect has a lepidolite mica zone along the contact margin of the pegmatite. Rock chip sampling of the lepidolite zone has returned a best assay result of 3.62% Li2O and 433ppm Ta2O5. The Company believes that the extensive area of pegmatite dykes and float material, fertility supported by K/Rb ratios (<20) and evidence of fractionation along the pegmatite - ultramafic contact, provides the necessary supporting evidence for the Western Pegmatite Zone to host a large spodumene bearing system. The Company has planned a detailed geological mapping and geochemical sampling program to better assess the fertility of pegmatites along the Western Pegmatite Zone and the Lithium Creek Prospect to assist in defining immediate drill targets. Additionally, there has never been any lithium focused exploration further north along the granite-ultramafic contact or within the EL59/2816 application. A reconnaissance trip is planned to occur along this prospective contact ahead of the tenement being granted. – 12 – Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Figure 9 - Wardawarra Project Lithium focused exploration overview Eastern Pegmatite Swarm and Dunn’s Prospect The Eastern Pegmatite Swarm is a 12km long series of en-echelon pegmatite dykes hosted within a gneissic zone of the Big Bell Granite suite, adjacent to a mafic-granite contact, which is focused directly east of the Western Queen gold resource (see Figure 9) within E20/967. The pegmatite bodies trend towards 340° to 350° and range in thickness from less than 1m to greater than 5m thick. They are dominantly granitic textured, although thicker pegmatite bodies exhibit some internal zonation fractionation. Limited reconnaissance rockchip and pXRF assaying along the Eastern Pegmatite Swarm indicates that the pegmatite bodies are LCT fertile, exhibiting classic enrichment in Li, Cs, Ta and associated pathfinder elements. A roughly 3km long central area within the dyke swarm has returned consistent K/Rb ratios (down to 2.4), indicating that this area represents the most fertile portion of the dyke swarm. This central area includes the Dunn’s Prospect where several poorly outcropping pegmatites exist over a strike length of approximately 500m with the individual pegmatite bodies 2m to >5m thick. The pegmatites in the Dunn’s Prospect exhibit some internal zonation, including fractionated quartz cores and a lithium bearing lepidolite-biotite-muscovite zone over a 350m area (see Figure 10). Rock-chip sampling along the central – 13 – Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS portion of the pegmatite has returned high-grade lithium assays including 4.95% Li2O, 4.91% Li2O, 4.84% Li2O and 4.72% Li2O (refer to ASX release dated 30 April 2024). Like the Western Pegmatite Zone, the Company believes that the Eastern Pegmatite Swarm and the Dunn’s Prospect have excellent potential to host a spodumene bearing lithium system and has planned a detailed geologic mapping and geochemical sampling program in the zone of highest fertility (lowest K/Rb ratios) with the intention of defining drill targets. Tantalus Prospect Figure 10 - Dunn’s Prospect – Rock chip sample location and assay The Tantalus Prospect is a shallow east dipping pegmatite system consisting of two zones (upper and lower) trending north-south over 600m and completely open along strike (see Figure 11). The pegmatites intrude ultramafic rocks (peridotite and pyroxenite). The upper pegmatite has a true width exceeding 30m (from RC drilling) with broad lithium anomalism. The mineralogy of the Tantalus pegmatite is principally microcline (amazonitic), muscovite, quartz and albite. Spessartine garnet and microlite (Ta mineral) occurs as <1mm grains along with coarse grain tantalite/columbite and beryl. Grab sampling from a small shallow pit returned up to 2.58% Li2O. Tin occurs as fine grain cassiterite (accessory mineral in pegmatite). Slimline RC drilling (Tantalus) completed by Rumble comprised of twelve drillholes as a single traverse completed normal to the strike of the pegmatite system (see Figure 11 and Figure 12). Three RC drill-holes intersected the upper pegmatite returning anomalous lithium (refer to ASX release dated 30 April 2024). Results include: o 13m @ 0.27% Li2O, 0.05% Cs2O, 0.12% Rb2O from 17m (WWRC016) o 12m @ 0.32% Li2O, 0.03% Cs2O, 0.13% Rb2O from 8m (WWRC017) o 8m @ 0.27% Li2O, 0.02% Cs2O, 0.1% Rb2O from 15m (WWRC018) – 14 – Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS The mineralised pegmatite dips approximately 20° to the east and is open along strike and down dip. The lithium mineral species was not recognised in the RC drilling chips. Figure 11 - Tantalus Prospect – Location of RC drill holes and assays Figure 12 - Tantalus Prospect – RC drill holes sections TT and 6961660 with assays – 15 – Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Yinga Ultramafic Complex - Nickel, Cobalt and PGE Exploration Widespread air core and slimline RC drilling (not including the Tantalus RC drilling) completed within E20/967 was designed to define the extent of prospective ultramafic lithologies along with testing potential gold zone extensions to the Western Queen Gold Project. The drilling was generally shallow and within the oxide and transition zones. Some 233 drill-holes for 6,726m tested predominantly the Yinga Ultramafic Complex. The drilling statistics comprised of 221 air-core and 12 slimline RC drill holes. Drilling has shown the Yinga Ultramafic Complex (YUC) as having a maximum width of 2km and comprises of multiple differentiated units (sills) dominated by pyroxenite and peridotite. Along the western margin, northsouth trending olivine rich cumulates (dunite) transition into pyroxenite (orthopyroxenite) with harzburgite zones. Internal structures and metamorphism have developed strong zones of serpentinization throughout the YUC. All outcrop is strongly weathered with significant laterite development along with secondary silica. Litho-geochemistry and geological interpretation of the YUC suggests the upward direction of the intrusive complex is to the east. Anomalous chromite zones were intersected close to the western margin. Elevated platinum and palladium were intersected within the YUC. The transition from peridotite (dunite) through to pyroxenite is west to east (upward direction of sill deposition is east). The western margin of the YUC has been intruded and tectonically truncated by granitoids. The eastern margin has been terminated by a major shear, inferred to be related to the regionally extensive north-south trending Wardawarra Shear Zone. Strong oxide (limonite) nickel laterite mineralisation has been confirmed at the historic Yinga Ni-Cu-Co Prospect. Results from Rumbles drilling include: • 8m @ 1.26% Ni, 0.09% Co from 12m (WWAC168) • 2m @ 1.08% Ni, 0.19% Co from 32m to EOH (WWAC174) • 4m @ 1.14% Ni, 0.07% Co from 16m (WWRC010) • 5m @ 1.07% Ni, 0.07% Co from 10m (WWRC011) Approximately 1km to the north of the Yinga Prospect, drilling under cover intersected anomalous oxide nickel and cobalt in laterite. Results include: • 9m @ 0.66% Ni from 54m to EOH (WWAC085) • 11m @ 0.66% Ni, 0.08% Co from 49m (WWAC088) • 5m @ 0.72% Ni, 0.09% Co from 39m (WWAC093) • 12m @ 0.59% Ni, 0.08% Co from 43m to EOH (WWAC094) • 3m @ 0.76% Ni, 0.14% Co from 25m (WWAC099) • 8m @ 0.68% Ni, 0.13% Co from 22m to EOH (WWAC114) Based on geological (drill holes) and geophysical interpretation of the layered ultramafic sequence, the YUC is inferred to comprise of three related lithological stages (see Figure 13). The lower ultramafic stage consists of multiple layered peridotite to pyroxenite units with at least one chromite horizon. The upper mafic stage is inferred to be partly preserved with the regionally extensive Wardawarra Shear Zone truncating most of the mafic lithologies. The main transition stage/zone is also inferred to be partly preserved over some 5km of strike (see Figure 13) and has not been tested, i.e. no drilling has confirmed this stage. The transition zone is considered highly prospective for PGE mineralisation. The YUC dips steeply to the west which indicates the transition zone also dips to the west away from the Wardawarra Shear Zone and likely extends at depth which adds further to the potential for economic PGE mineralisation. – 16 – Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Figure 13 - Yinga Ultramafic Complex– Drill hole locations, assay results and interpretative geology Braeside Project Rumble’s Braeside Project consists of the 100% owned E45/2032, E45/4368, E45/4874, E45/4873, and is located 129km east of Marble Bar in the East Pilbara Region of Western Australia (see Figure 14). During the year, the Company completed an eleven hole, 568m slimline RC drill program and a three hole 182.3m diamond drill program at the Braeside Project in the east Pilbara. The program was designed to target high-grade Pb-Zn-Ag-Au mineralisation below coherent soil anomalies and gossans at the Barkers Well Prospect where high grade shoots within pipe-like bodies have been delineated by earlier drilling campaigns. Two diamond drillholes tested plunge extensions to previously defined shoots. A single diamond tail tested a previously identified coincident chargeability and resistivity IP anomaly, interpreted to represent disseminated pyrite and silica alteration associated with high grade Pb-Zn-Ag-Au mineralisation. The slimline RC program tested strike extensions to known mineralised pipes. – 17 – Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Figure 14 - Location of Braeside, Warroo and Lamil JV Projects and Prospects Warroo Project The Warroo Project is contiguous to the east of Rumble’s Braeside Project (see Figure 14) and lies some 160km to the east of Marble Bar in the East Pilbara region of Western Australia. The project comprises of three exploration licence applications (ELA45/5365, ELA45/5366 and ELA45/5367) for a total area of 1,082 km² and is 100% owned by Rumble. Key features of the Warroo Project are: • • • Over 18km of highly prospective strike under shallow sand