Mamba Exploration secures access to explore Black Hills near Julimar discovery

Mamba Exploration ASX M24 Black Hills Julimar discovery
At Black Hills, Mamba will complete a ground-based geophysical survey in the current quarter, followed by drilling in the December period.

A land access agreement has cleared the way for Mamba Exploration (ASX: M24) to begin ground exploration and drilling at its Black Hills project near Chalice Mining’s (ASX: CHN) Julimar discovery in Western Australia’s Darling Range.

Following negotiations with the landowner, Mamba now has access to its highest-priority versatile time domain electromagnetic (VTEM) target within the project.

The agreement was lodged with WA’s Department of Mines, Industry Regulation and Safety to allow inclusion of the private land into the tenement.

Once the department certifies the amended agreement, a program of work will be submitted to enable drilling once crops have been harvested.

Commenting on the VTEM target, Mamba managing director Mike Dunbar said it is coincident with a 6km long 2PGE (platinum group element) anomaly, mapped ultramafic rocks and along strike from significant nickel rock chip samples.

“The agreement allows land access for geochemical sampling and geophysical surveys, as well as initial drilling of the targets, which is an excellent outcome for all involved.”

Mr Dunbar noted the geological setting at Black Hills is similar to that which hosts the Julimar PGE-nickel-copper-cobalt-gold deposits about 30km away.

Julimar has a current resource of 350 million tonnes at 0.96 grams per tonne 3E (palladium, platinum and gold), 0.16% nickel, 0.10% copper and 0.015% cobalt for a contained 11 million ounces of 3E, 560,000t nickel, 360,000t copper and 54,000t cobalt.

While awaiting the approval to drill, Mamba will complete a ground-based geophysical survey in the current quarter.

Drilling is expected to kick off in the December quarter.

Well-funded for exploration

Mamba closed out the June quarter with $3.4 million in the bank to fund its workstreams across its various projects.

The land access agreement at Black Hills follows strong negotiations during the period.

Mamba also advanced its other assets during the June quarter including hitting shallow high-grade gold during initial drilling at the Calyerup Creek gold project in WA’s Great Southern.

Highlight results were 15m at 2.2 grams per tonne gold from 1m; 15m at 2.08g/t gold from 3m; and 9m at 2.25g/t gold from 6m.

After reprocessing airborne EM data at Copper Flats in the Kimberley, Mamba identified “very encouraging conductors” that are coincident with high-grade copper and silver that was discovered during surface sampling.

Another soil sampling program is underway at Copper Flats and a more detailed TEMPEST airborne EM survey is planned to begin in October.

Soil sampling was recently completed at the company’s Ashburton gold project in WA’s Gascoyne.

Mamba will also be exploring for rare earths after executing an option during the June quarter for the Don project in the east Kimberley.

The project is prospective for both rare earths and gold.

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