Perth-based junior Mamba Exploration (ASX: M24) has commenced a detailed gravity survey and initial drilling at a regional anomaly east of historical clay-hosted rare earth elements (REE) mineralisation at the high-grade Hyden project in Western Australia.
The ground-based survey aims to better define the anomaly identified in initial due diligence at the project and provide direct drill targets.
It will take a week to complete and inversion modelling will be undertaken to define the targets.
The 20-hole aircore drilling program is designed as an initial test of the clay around areas of limited historic exploration, to better understand the mineralisation’s potential and source.
Total rare earth oxide content
Past exploration at Hyden identified up to 46,716 parts per million total rare earth oxides (4.67% TREO) in clay from 12m down hole but was not properly sampled and remains open in all directions.
It contained 11,503ppm (1.15%) lanthanum oxide; 10,918ppm (1.09%) yttrium oxide; 2682ppm (0.27%) praseodymium oxide; 9,320ppm (0.93%) neodymium oxide; and 1,561ppm (0.16%) dysprosium oxide.
Neodymium and praseodymium accounted for 26% (12,002ppm or 1.2%) of TREO.
The assay was reported to represent a “very compelling target” given that most clay-hosted rare earth oxide mineralisation tends to grade between 800ppm and 2000ppm.
Drilling is expected to be completed within the week.
Option agreement
In November, Mamba entered into an option agreement to purchase 100% of the REE rights across four exploration licences at Hyden.
The “exceptionally high-grade” licences were acquired from private vendor Licograph Pty Ltd and cover an area of 561 square kilometres of predominantly broad acreage grain farms in the state’s wheatbelt region.
Mamba committed to drilling at least 10 holes on one of the licence areas with at least $25,000 in exploration expenditure before the new year.
The option extends for 45 days after the grant of an extension for the licence, which is expected to be after March 2023.
The project also comprises applications for an additional five exploration licences.
