Mamba poised to bite after unearthing new Darling Range targets
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Mamba has identified two new priority targets at its promising Darling Range PGE-nickel-copper project after completing an airborne electromagnetic survey.
Modelling of the data confirmed seven AEM plates coincident with a mapped 6km long ultramafic unit at Black Hills and three AEM plates at the Batty Bog area.
The ultramafic unit at Black Hills is of particular interest to Mamba Exploration (ASX:M24) as it is supported by numerous coincident geochemical and geophysical trends.
“Identifying seven AEM plates from the detailed modelling at Black Hills is a great result,” managing director Mike Dunbar said.
“Just as encouraging is the fact that we have identified a 6km-long 2PGE trend, a coincident ultramafic unit and a magnetic trend which are all coincident with the AEM plates adds significantly to the prospectivity.
“Having identified the trends, we immediately commenced discussions with the landowners and have already received in principle agreement with one of the farmers, which has allowed us to commence additional geochemical sampling to the north where the ultramafic unit is interpreted to either be folded on itself or is a large intrusive feature.”
Dunbar added that negotiations are progressing well with other landowners and the company is confident of finalising land access and compensation agreements in the next month to allow for ground drilling in the current quarter and drilling to start in the fourth quarter.
Modelling at the Mistake Creek area is ongoing with several shallow conductors identified while the company also plans to carry out a fixed loop EM survey over the modelled AEM plates to better define targets for drilling at Darling Range.
Black Hills is located about 30km east of Chalice Mining’s (ASX:CHN) Julimar discovery where compilation of historical geochemical sampling has identified a 6km long +10 parts per billion platinum plus palladium geochemical anomaly that remains open to the north.
Additionally, the compilation of historical rock chip sampling and digitisation of the geological mapping in the area has identified and confirmed an ultramafic unit that is broadly coincident with the anomaly.
These coincide with the seven AEM plates, which are consistent with a bedrock mafic or ultramafic source and have a strike length of between 100 and 500m with a depth extent of between 60 and 300m.
Meanwhile, Batty Bog covers a discrete highly magnetic anomaly about 15km north of New Norcia and 50km north of Julimar that has undergone very little exploration.
The three AEM plates come from a bedrock source and have strike lengths of between 65m and 350m as well as depth extents of between 45m and 250m.
Detailed processing of airborne magnetic data has also identified several bedrock anomalies that coincide with the AEM conductors and modelled plates.
This article was developed in collaboration with Mamba Exploration, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.