Rumble Resources Poised for Breakout Year with Gold Production and Multi-Commodity Portfolio
Significant Resource Upgrade Drives Western Queen Gold Project Forward
Rumble Resources (ASX:RTR) has announced a substantial upgrade to its Western Queen Gold Project, with resources now standing at 3.72Mt @ 3.1g/t Au for 370,000 ounces. This represents a 53% increase in average grade and a 29% increase in global gold ounces from the previous estimate, positioning the company for near-term production.
The Western Queen Project, which historically produced 215,000 ounces at an impressive 7.6g/t Au, is strategically located within 200km of five operational gold processing plants in Western Australia, creating multiple options for monetisation of the asset.
"We're extremely pleased with this significant resource upgrade at Western Queen, which further strengthens our pathway to production," said Peter Harold, Managing Director and CEO of Rumble Resources. "The substantial grade increase to 3.1g/t Au places Western Queen among the higher-grade undeveloped gold resources in Australia."
Near-Term Production Pathway Secured
In a significant development, Rumble has executed a term sheet with Bain Global Resource and MEGA Resources to advance Western Queen toward production. Key terms include:
- Bain and Rumble to collaborate on open pit mining
- MEGA to provide mining services
- Bain to fund up to $35 million in working capital
- Rumble and Bain to share free cash after development costs are repaid
The company is targeting gold production in 2026, with current work focused on finalising the open pit schedule and executing definitive agreements.
Understanding Open Pit Optimisation
What is Open Pit Optimisation?
Open pit optimisation is the process of determining the most economically viable design for an open pit mine. It involves creating a mathematical model that accounts for factors such as:
- Ore grade distribution
- Mining and processing costs
- Metal prices
- Geotechnical parameters
The model generates a series of nested pit shells that maximise the economic value while considering operational constraints. For Rumble's Western Queen project, this optimisation is crucial for determining which portions of the 370,000-ounce resource can be most profitably mined in the near term.
The optimisation process helps mining companies like Rumble determine the optimal depth, width, and sequence of mining, ultimately affecting the project's NPV and payback period.
High-Grade Tungsten Discovery Adds Significant Value
Adding to Western Queen's potential, Rumble has made a high-grade tungsten discovery with exceptional intercepts including:
- 4m @ 4.58% WO₃, 0.72g/t Au including 0.65m @ 18.35% WO₃, 2.97g/t Au
- 14m @ 0.26% WO₃, 0.28g/t Au including 4m @ 0.65% WO₃
- 7m @ 0.23% WO₃, 0.38g/t Au including 3m @ 0.40% WO₃, 0.76g/t Au
This discovery is particularly significant given tungsten's classification as a critical mineral with substantial industrial applications in hard materials, electronics, and defence sectors. The global tungsten market is projected to grow at a CAGR of 8.5% through 2025-2029.
Earaheedy: One of the Decade's Largest Zinc Discoveries
Beyond gold, Rumble's flagship Earaheedy Project hosts a globally significant zinc-lead-silver resource:
| Resource Category | Tonnage | Grade | Contained Metal |
|---|---|---|---|
| Inferred (2% Zn+Pb cut-off) | 94Mt | 3.1% Zn+Pb, 4.1g/t Ag | 2.2Mt Zinc, 0.7Mt Lead, 12.6Moz Silver |
| Higher-grade component | 41Mt | >3% Zn+Pb | – |
Recent metallurgical testwork has confirmed:
- High recoveries with zinc recovery up to 79%
- High-grade bulk concentrate specifications of over 61% Zn+Pb
- Successful application of HydroFloat™ technology, which rejects 30% of waste material early in the process
The company is currently conducting an internal scoping study and seeking a development partner to advance this major base metals asset.
Exploration Upside and Future Growth
Rumble has also acquired 100% of the Thunderstorm Gold Project in the Fraser Range, which features the Gazelle discovery with high-grade intercepts of 16m @ 6.69g/t Au and 6m @ 9.15g/t Au.
At Western Queen, substantial exploration potential remains, with:
- Only limited testing of the 2km strike between the Duke and Cranes deposits
- Reinterpretation of the regionally significant Western Queen Shear Zone using detailed airborne magnetics
- Potential geological similarities to Spartan Resources' Never Never deposit (6.75Mt @ 8.65g/t Au for 1.875Moz)
Why Investors Should Track Rumble Resources
With a market capitalisation of only $30 million and enterprise value of $26 million, Rumble Resources appears significantly undervalued relative to its advanced asset portfolio:
- Near-term gold production at Western Queen with a funding pathway now established
- Multi-commodity exposure across gold, zinc, lead, silver, and tungsten
- Globally significant Earaheedy Project representing one of the largest zinc discoveries in the past decade
- Proven exploration success with continued resource growth and new discoveries
- Strong financial position with approximately $4.1 million in cash and equivalents
With production anticipated in 2026 and multiple exploration catalysts ahead, Rumble Resources gold project offers investors exposure to near-term cash flow and substantial resource growth potential across a diversified commodity portfolio in Western Australia's premier mining jurisdiction.
Want to Learn More About Rumble's Path to Gold Production?
Discover why Rumble Resources' portfolio of advanced gold and multi-commodity projects presents a compelling investment opportunity in today's market. With near-term production at Western Queen, a globally significant zinc resource at Earaheedy, and new high-grade discoveries, Rumble is positioning for substantial growth. For more information about their pathway to production and development strategy, visit Rumble Resources' website to explore their full project portfolio and latest investor presentations.
