Exploration Plan

Our Objectives

• An understanding and a body of knowledge of the magnitude and complexity of the tenement areas which have never been previously explored.
• Early identification of the top 3 targets across all tenements.
• Targeted geochemistry and geophysics activities to develop the drilling program.
• A focussed drilling based on best data to maximise success of each hole.
• Maintain exploration activities to retain the tenement areas we wish to retain while identifying the next group of targets.

Our Intent

Early exploration to develop an understanding of the geology of the region and to develop a suite of targets was undertaken for the 14 months prior to the granting of the initial EPMS. By the time of the granting, Rhumb identified more than 5o separate targets. Since the granting Rhumb has taken a conservative approach to exploration and will carry out a structured program to proving up the priority targets for drilling in 2023. To date Rhumb has committed ~80% of all funds raised to discovery and is focussed on accelerating the program while ensuring funds are not risked unnecessarily.

From the January soils and geophysics results, Rhumb has prioritised 6 targets in already granted tenements and is focussing on developing the case for a drilling program on those targets.

Rhumb has an opportunity to accelerate into the early drilling of two already identified targets and are looking at the possibilities of a short drilling program for May / June. The Company was awarded a Queensland Government Collaborative Exploration (CEI) grant and will use the funding from that to drill one of the holes in the Jowalbinna target. 

Additionally, the company is ready to commence exploration on the yet to be granted tenements.