Mamba to build on early successes with Great Southern exploration
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Mamba Exploration has kicked off exploration work at the Calyerup Creek gold project in WA’s Great Southern region, expanding its regional landholding at the same time.
Geochemical sampling is currently underway at the project south of Perth, with early works testing historical open anomalies first detected in 1988, project extensions to anomalies along geological boundaries, and greenstone basement lithologies to the south of the project area.
Mamba (ASX:M24) has also secured a further 70km2 tenement adjoining the existing tenure at the project – a move which significantly expands the project area and spans the granite greenstone contact to be tested to the south of the existing project.
The steps are significant for the company, which listed earlier this year, as it works towards drilling approval with a rig secured and ready to commence within the next month pending said approvals.
A program of work has been submitted to the Department of Mines, Industry Regulation and Safety and is expected to be granted in the next few weeks.
The project comprises three historical prospects – northern, Central and Southern. Northern and Central were last drilled in 2011, while Southern has not seen a drill bit since 1989.
Mamba managing director Mike Dunbar said the company was keen to kick off and explore in the Great Southern.
“The granting of the new tenement adjoining the company’s existing Calyerup Creek gold project is a significant milestone for the company as it expands its holding in the prospective and significantly underexplored Great Southern region of WA,” he said.
“In particular, the project provides a compelling gold exploration target that has flown under the radar for the last 30 years.
“Compilation of historical data has defined a number of geochemical targets which need to be tested. The geochemical sampling underway will help define these targets for drilling.
“Additionally, the company’s ability to secure an RC drill rig and commence drilling, pending approvals, will allow first pass testing of a number of the historical anomalies already identified, and we look forward to drilling these targets as a priority.”
It has been a barnstorming start to listed life for Mamba, which placed early focus on its flagship Darling Range nickel-copper-platinum group element project in the red-hot namesake region near Perth.
A whopping 13 VTEM Max electromagnetic conductors were identified by the company at the flagship earlier this year.
The Darling Range project is close to Chalice Mining’s Julimar discovery, and the results turned plenty of heads on announcement.
With a seasonal exploration strategy in place from its prospectus, Mamba’s plan had always been to rotate its attention between its WA projects. Dunbar said while exploration was kicking off at Calyerup Creek the company would continue work on the flagship project concurrently.
“While the company is active on the ground at Calyerup Creek, it is also continuing to advance the flagship Darling Range Project, with the land access negotiations and processing of the recent VTEM data ongoing,” he said.
“We are also progressing our Ashburton and Kimberley projects, which will become the focus of our exploration efforts in the coming months as the winter rains prevent the ability of the company to effectively explore in the southern portion of Western Australia.”
Mamba’s Ashburton project spans two granted tenements near Carnarvon, while the Kimberley project covers the Copper Flat, Ruby Plans and Speewah East sub-projects and is largely covered by exploration licence applications.
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.