- Mamba Exploration (M24) has intersected shallow gold mineralisation at its Calyerup Creek gold project in Western Australia
- Thirteen out of the first 14 follow-up RC holes drilled this year intersected “significant mineralisation”, which the company says now extends 350 metres and remains open in all directions
- Managing Director Mike Dunbar says this is an outstanding result and suggests that the mineralised system is “far more extensive than first anticipated”
- M24 shares up 6.06 per cent to 17.5 cents
Mamba Exploration (M24) has intersected shallow gold mineralisation in a follow-up drilling program at its Calyerup Creek gold project in Western Australia.
Better assays from the company’s first 14 reverse circulation (RC) holes drilled so far this year include nine metres grading 2.5 grams per tonne gold from six metres, two metres at 2.2 g/t from 38 metres to end of hole and five metres at 1.1 g/t from surface.
“It is pleasing to report that following the shallow and consistent widths of high-grade gold mineralisation identified in seven of the initial eight holes drilled late last year, 13 of the following 14 holes also intersected significant mineralisation,” Mamba Managing Director Mike Dunbar said.
After accounting for the RC holes completed last year, 20 out of the 22 initial holes drilled so far intersected significant mineralisation, which the company said extends for more than 350 metres east-to-west and remains open in all directions.
“This is an outstanding result given we are testing a soil anomaly, and suggests that the mineralised system is far more extensive than first anticipated,” Mr Dunbar said.
Mamba said the current, initial RC drilling program at Calyerup Creek was expected to wrap up in the next week, with results expected in early April.
M24 shares were up 6.06 per cent to 17.5 cents at 2:44 pm AEDT.