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”.
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.
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.