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- Mamba Exploration (M24) reaches an agreement with Licograph to extend the rare earth element (REE) option over its Hyden project in WA until November 5
- M24 now has more than five months to continue exploring Hyden for REE minerals and complete metallurgical test work in its clay target zone
- The agreement follows a recent extension of the company’s key exploration licence at Hyden for an additional five years through to January 2028
- The company is awaiting assay results from its 58-hole drill program over the gravity anomaly east of the clay target zone
- Mamba shares are trading at 9.5 cents at 10:30 am AEST.
Mamba Exploration (M24) has reached an agreement with Licograph to extend the rare earth element (REE) option over its Hyden project in WA for an additional six months.
The agreement follows a recent extension of the company’s key exploration licence at Hyden for an additional five years through to January 2028.
The extension to November 5, 2023 offers M24 more time to explore Hyden for REE minerals and to receive drill results, a significant increase to the original option of only 45 days.
The license extension also allows Mamba to complete the initial metallurgical test work of its regolith-hosted REE mineralisation identified within the company’s clay target zone.
Mamba has finished its initial 58-hole drill program over the gravity anomaly east of the clay target zone. However, the company noted a six-to-eight week metallurgical test work program is required to determine the most suitable processing method for the material.
Assay results from the drilling are anticipated to be received this month.
Mamba shares last traded at 9.5 cents at 10:30 am AEST.
