- Mamba Exploration (M24) secures new rig to continue drilling at the Calyerup Creek gold project in Western Australia’s Great Southern
- The 50-hole program was expected to be complete prior to Christmas however there were mechanical issues with the drill rig and only eight holes were completed
- Of the eight holes, seven have returned shallow and consistent widths of high-grade gold mineralisation, with grades peaking at 9.74 g/t
- Drilling is scheduled to recommence on January 21 and M24 has submitted an additional program of works for drilling beyond the current program
- Shares have been trading 10.5 per cent higher at 21 cents
Mamba Exploration (M24) has secured a second drill rig to complete drilling at the Calyerup Creek gold project in the Great Southern region of Western Australia.
The company’s maiden drilling program was expected to be completed prior to Christmas, however Managing Director Mike Dunbar said mechanical issues with the drill rig slowed drilling and only eight of the 50 holes were completed prior to the end of the year.
“Pleasingly we have managed to secure another small RC rig to complete the drilling, with the rig mobilising to site on Thursday the 20th of January and is expected to commence drilling on Friday the 21st,” he said.
Results have been received from the first eight holes, with seven intersecting mineralisation the company deems “significant”. Grades peaked at 9.74 grams of gold per tonne (g/t).
An infill soil sampling program was also completed at the end of 2021 and according to the company, results have confirmed and upgraded the existing anomalous soil sampling trends with soil results up to 2.8 g/t gold identified.
These trends haven’t been drilled and Mamba has submitted a programme of works to the Department of Mines, Industry Regulation and Safety for an additional 100 reverse circulation holes.
This drilling will be undertaken once the existing program of 50 holes has been completed and results compiled and released.
Shares were trading 10.5 per cent higher at 21 cents at 10:55 am AEDT.