About Rhumb Resources
Established in 2021 specifically to prove up the results of more than two years work carried out by geologists in the Laura region, Rhumb Resources is a no-frills junior explorer starting a journey.
The Company, now in it formative stage, is focussed on exploration for “future metals’; platinum group elements, the battery metals and rare earth elements; all of which have been detected in the area. In the longer term, once the current project is consolidated, the Company may consider similar resources in Australia and elsewhere or other complementary target metals. Our vision is to be a significant player in the production of future metals.
Tenements and Holdings
Rhumb Resources acknowledges the Traditional Custodians of the lands on which we operate; we pay our respects to all Aboriginal and Torres Strait Islander peoples and their communities.
Rhumb Resources holds or has under application, over 2300 square kilometres of tenements near Laura on the Cape York Peninsula. The tenements sit astride the Palmerville and Yintjingga faults and are highly prospective for the future economy metals; copper, nickel and the platinum group elements.
The area is previously unexplored for those metals and is effectively a greenfields opportunity. Initial work identified more than 50 targets across the tenements. Recent soils and geophysical results are exciting with numerous anomalies confirmed in the target areas
Rhumb Resources Ltd Entitlement Issue Prospectus and Target Market Determination
Latest News
Rhumb awarded $183,100 exploration grant
I previously advised shareholders that on 6th March we were advised that we were successful in securing a $183,100 grant under the CEI program. This afternoon, the Queensland Minister for Resources, Scott Stewart made it official and announced that Rhumb Resources, along with 24 other Queensland explorers are to receive grants of up to $250,000 to “find critical minerals”.
Shareholder Update 5 – Soils
Rhumb conducted a soils survey of ~400 samples In late September / early October 2022. To cover 14 major targets indicated by magnetics and previous soils results in EPMs 27920, 27922 and 27924. Soils sent to ALS for Ionic leach ME-MS61r testing designed to detect mineral under cover.
Shareholder Update 4 – Magnetics Enhancement results
Exciting results from enhancement of magnetic, gravity and radiometric data. Confirms the model rhumb has been working on for the last 18 months. Structural corridors trending northeast and northwest showing significant potential. Two significant anomalies in EPM27924; one suggesting altered intrusive with further smaller targets. Interpretations correlate with soil sampling program results.