Rumble Resources (ASX:RTR) agreed to acquire 70% interest in three exploration tenements in the Fraser Range Province from joint venture partner IGO (ASX:IGO) to secure 100% of the Thunderstorm project in Western Australia, according to a Monday filing with the Australian bourse.

The acquisition involves a purchase price of AU$300,000 to be paid in company shares and a 1.1% net smelter return royalty over exploration licenses E28/2528, E28/2595, and E28/2529, the filing said.

The company plans to conduct an infill air core drilling campaign to test the paleochannel mineralization at the Gazelle prospect, per the filing.

Rumble Resources' shares fell 9% in afternoon trade Monday, while IGO's shares tumbled 6%.