Mamba Exploration has locked in access to northern priority targets at the Black Hills project in WA via a private land access and compensation agreement.

The agreement includes a modest annual payment and further compensation based on the number and type of drill holes completed each year.

“We are pleased to have finalised the land access and compensation agreement with the landowner for the northern priority area at Black Hills,” Mamba Exploration (ASX:M24) managing director Mike Dunbar said.

“The agreement allows land access for geochemical sampling and geophysical surveys as well as compensation on a hole-by-hole basis, which is an excellent outcome for all involved.”

Similar size to the Gonneville intrusion

The priority target is at the northern end of the 6km long anomaly displaying +10 parts per billion ppb platinum and palladium geochem signals.

“It has been mapped as a mafic/ultramafic unit,” Dunbar said.

“And based on the aerial magnetic and EM data, is interpreted to be an intrusive feature of similar size to the Gonneville intrusion which hosts the Julimar PGE-nickel-copper-cobalt-gold deposit discovered by Chalice Mining (ASX:CHN).”

Drilling planned for December

Dunbar said that as soon as the agreement was reached, the company immediately submitted a program of work to the Mines Department, which is expected to be approved in the next six weeks.

“We have secured an RC rig so drilling can commence without delay,” he said.

“At this stage we anticipate mobilising the rig in early December as previously scheduled.”




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.