- Mamba Exploration (M24) launched its initial drilling program at its Hyden rare earth element project in Western Australia
- The company commenced a detailed gravity survey and drilling at a regional anomaly east of historical clay-hosted rare earth elements (REE) mineralisation
- The program is expected to be completed within the next week, while the ground-based survey will also take around seven days to complete
- Assay results from the drilling will then be received in mid to late February, with the gravity modelling results expected by the end of January
- Shares in Mamba are up 13.3 per cent, trading at 17 cents at 3:15 pm AEDT
Mamba Exploration (M24) has commenced an initial drilling at the Hyden rare earth element project in Western Australia.
The company commenced the detailed gravity survey and drilling at a regional anomaly east of historical clay-hosted rare earth elements (REE) mineralisation.
The 20-hole aircore drilling program, expected to be completed by next week, is designed as an initial test of the clay around areas of limited historic exploration, to better understand the mineralisation’s potential and source.
The ground-based survey is expected to take a week to complete, along with inversion modelling to define the targets.
Assay results from the drilling will then be received in mid to late February, with the gravity modelling results expected by the end of January.
Past exploration at Hyden identified up to 46,716 parts per million (ppm) total rare earth oxides in clay from 12 metres downhole, but was not properly sampled and remains open in all directions.
The assay was reported to represent a “very compelling target” given that most clay-hosted rare earth oxide mineralisation tends to grade between 800 ppm and 2000 ppm.
Shares in Mamba were up 13.3 per cent, trading at 17 cents at 3:15 pm AEDT.