Mamba Exploration (ASX:M24) - Managing Director, Mike Dunbar
Managing Director, Mike Dunbar
Source: Mamba Exploration/Twitter
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  • Mamba Exploration (M24) begins a 3500-hole auger drilling program at the Ashburton Project in Western Australia
  • Drilling is targeting the Lyndon and Osbourne Well tenements to test structures believed to control gold mineralisation and the extent of historical workings
  • Mamba expects the program will take around one month to complete and will take samples from each hole to submit them on a fortnightly basis
  • Company shares are down 2.78 per cent to trade at 17.5 cents

Mamba Exploration (M24) has recently begun a 3500-hole auger drilling program at the Ashburton Project in Western Australia.

Drilling is aimed at testing multiple large regional structures which are believed to control the gold mineralisation. These include the historical gold workings at Lyndon and the gold mineralisation found at the Woods prospect.

The program will be split across the Lyndon and Osbourne Well exploration licences.

Lyndon

Auger sampling at the Lyndon area is designed to test geophysical and structural targets. It will also test the strike extent of the historical workings where channel sampling of the quartz veins returned up to 46.5 grams of gold per tonne (g/t) and rock chips returned gold grading up to 81.2g/t.

The company has planned 2000 sample points for Lyndon which marks the first modern systematic sampling program to be conducted at the tenement.

Osbourne Well

The program at the Osbourne Well area will include around 1500 samples to test the interpreted regional structure that trends through the tenement.

Mamba believed this structure is the controlling feature for mineralisation at the Woods prospect which has previously returned up to 11.4g/t and 17.6g/t gold.

Managing Director Mike Dunbar was pleased to have commenced the program.

“It is pleasing that we have been able to secure an auger rig to allow the Ashburton drilling to commence while we assess the targets highlighted from the recent geophysical reprocessing of data from our Kimberley projects.”

Mamba Exploration expects drilling at the Ashburton Project will take one month to complete and will submit samples to the lab on a fortnightly basis. First results are expected within around six weeks of being submitted for assaying.

Company shares were down 2.78 per cent to trade at 17.5 cents at 11:43 am AEST.

M24 by the numbers
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