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- Mamba Exploration (M24) has been granted a new tenement that adjoins its Calyerup Creek Gold Project in Western Australia
- As a result, the size of Calyerup has increased by 70 square kilometres
- Mamba has also begun initial exploration activities at the project with geochemical sampling underway
- This upcoming sampling program will aim to better define all the anomalies and close them off to allow targets to be prioritised for drilling
- Furthermore, Mamba has submitted a Program of Work to the Department of Mines, Industry Regulation and Safety for the drilling of 50 reverse circulation holes at the project
- Around 30 holes will be drilled in the southern portion to test for extensions while 20 holes will be drilled to test undrilled geochemical anomalies
- Shares in Mamba are down 7.55 per cent on the market and are trading at 24.5 cents
Mamba Exploration (M24) has been granted a new tenement that adjoins its Calyerup Creek Gold Project in Western Australia.
As a result, the size of Calyerup has increased by 70 square kilometres.
Mamba has also begun initial exploration activities at the project with geochemical sampling underway.
Historical soil sampling identified a four-kilometre-long soil anomaly consisting of multiple higher-grade portions.
Three of these portions have been partially tested by shallow drilling while the majority remain untested.
This upcoming sampling program will aim to better define all the anomalies and close them off to allow targets to be prioritised for drilling.
Once sampling over Calyerup Creek has been completed, Mamba will focus on the recently granted tenement where no historical exploration has been undertaken.
Furthermore, Mamba has submitted a Program of Work (PoW) to the Department of Mines, Industry Regulation and Safety for the drilling of 50 reverse circulation (RC) holes at the project.
Around 30 holes will be drilled in the southern portion to test for extensions while 20 holes will be drilled to test undrilled geochemical anomalies.
An RC rig has already been secured and subject to PoW approval, drilling is scheduled to begin next month.
“The granting of the new tenement adjoining the company’s existing Calyerup Creek Gold Project is a significant milestone for the company as it expands its holding in the prospective and significantly underexplored Great Southern region of WA,” Managing Director Mike Dunbar said.
“Additionally, the company’s ability to secure an RC rig and commence drilling will allow first pass testing of a number of the historical anomalies already identified,” he added.
Shares in Mamba are down 7.55 per cent on the market and are trading at 24.5 cents at 12:56 pm AEST.
