Total
0
Shares
Mamba Exploration (ASX:M24) - Managing Director, Mike Dunbar
Managing Director, Mike Dunbar
Source: Mamba Exploration/Twitter
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Mamba Exploration (M24) identifies two priority targets called Black Hills and Batty Bog which are located at the Darling Range Project in Western Australia
  • These targets have been identified through an airborne electromagnetic survey which also modelled 10 plates — seven of which lie within the Black Hills area
  • The Black Hills area also hosts a known six-kilometre geochemical anomaly that’s prospective for platinum and palladium
  • Mamba plans to conduct more survey work and drilling to follow up on these targets and better understand their potential
  • Company shares are up 2.5 per cent and were trading at 19.5 cents

Mamba Exploration (M24) has received encouraging results from survey work completed over its Darling Range Project in Western Australia.

The airborne electromagnetic (AEM) survey successfully identified two priority targets which are the Black Hills and Batty Bog areas.

Black Hills

The survey modelled 10 significant AEM plates — seven of which are located in the Black Hills area and are associated with a six-kilometre-long ultramafic trend on the eastern side.

The six-kilometre anomaly was identified through the compilation of historical geochemical sampling and is prospective for platinum and palladium (2PGE). It also remains open to the north.

Mamba considers this trend to be particularly significant as it’s supported by multiple geochemical and geophysical trends and upgrades the potential of the Black Hills area.

Managing Director Mike Dunbar said he was pleased with the AEM results.

“Identifying seven AEM plates from the detailed modelling at Black Hills is a great result. Just as encouraging is the fact that we have identified a six-kilometre-long 2PGE trend, a coincident ultramafic unit and a magnetic trend which are all coincident with the AEM plates adds significantly to the prospectivity.”

Batty Bog

The other three AEM plates were modelled at the Batty Bog area. The plates extend for between 65 and 350 metres and extend for depths between 45 and 250 metres.

The company also identified several bedrock anomalies by processing detailed aeromagnetic data.

Mamba Exploration plans to conduct a fixed-loop electromagnetic (FLEM) survey to cover all AEM modelled conductors. The survey is expected to be completed in late quarter three or early quarter four, depending on land access agreements. Once the FLEM survey wraps up, the company will undertake drilling.

In addition to the survey, Mamba will conduct further geochemical exploration to confirm Batty Bog’s potential.

Company shares were up 2.5 per cent and were trading at 19.5 cents at 1:02 pm AEST.

M24 by the numbers
More From The Market Herald

" Rincon Resources (ASX:RCR) receives final results from Hasties

Rincon Resources (RCR) has received assay results for the final 12 holes from its maiden reverse circulation (RC) drilling program at the Hasties
The Market Herald Video

" R3D Resources’ (ASX:R3D) drilling program nears completion

R3D Resources (R3D) is progressing its 1600-metre drilling program on the Tartana mining leases in Queensland.

" Auric Mining (ASX:AWJ) defines new gold zone at Guest prospect

Auric Mining (AWJ) has identified a new zone of gold at the Guest prospect located within the Widgiemooltha area of Western Australia
Resources and Energy Group (ASX:REZ) -

" Resources & Energy Group (ASX:REZ) starts toll milling campaign

Resources & Energy Group (REZ) has commenced a toll milling campaign for Granny Venn Open Cut Gold Mine in Western Australia.