Mantle Minerals Uncovers Promising Hemi-Style Gold Targets at Mount Berghaus

Exploration Advances at Mount Berghaus and Roberts Hill

Mantle Minerals Limited (ASX: MTL) has delivered a promising quarterly update for the period ending 31 December 2024, highlighting significant progress in its gold exploration programs at Mount Berghaus and Roberts Hill in Western Australia. The company completed the first phase of deep reverse circulation (RC) drilling, designed to test gold mineralisation identified in earlier aircore drilling campaigns.

The RC drilling results have confirmed the presence of Hemi-style gold mineralisation, a geological signature associated with some of the region's most prolific gold deposits. Key intersections reported include 5 metres at 1.1 grams per tonne (g/t) gold from 35 to 40 metres depth, and a broader 32 metres at 0.16 g/t gold from 123 to 154 metres, both at Mount Berghaus. These findings reinforce the potential for commercially viable gold deposits within the tenement.

Geophysical Review to Guide Next Drilling Phase

In response to these encouraging results, Mantle has engaged Core Geophysics to conduct a detailed review of the Mount Berghaus tenement. This review will integrate the company's aeromagnetic data from 2020 with additional open file geophysical datasets, aiming to refine and prioritise drill targets. Of particular interest is an 800-metre gold halo identified across multiple drill holes, featuring high-grade intersections such as 4 metres at 3.57 g/t gold.

The company plans to follow up with RC and diamond drilling in early 2025 to test these newly defined targets, potentially unlocking further value from the project.

Collaboration and Broader Exploration Efforts

Alongside Mantle's drilling, De Grey Mining Limited (ASX: DEG) has completed at least 90 aircore holes at Roberts Hill, continuing the exploration momentum in the region. These programs collectively enhance the understanding of the gold systems and support the strategic development of the projects.

Corporate Update and Financial Position

On the corporate front, Mantle Minerals announced the retirement of Executive Chairman Nick Poll in November 2024, with a search underway for a successor. Financially, the company reported exploration expenditures totaling approximately A$501,699 across key projects during the quarter. Despite a net cash outflow from operating activities of A$679,000, Mantle ended the quarter with A$155,000 in cash and remains confident in its ability to fund ongoing operations, supported by recent capital raisings.

The company also noted that drilling activity will pause in the March quarter due to ground conditions, which will reduce operating cash flows temporarily.

Looking Ahead

Mantle Minerals’ recent drilling success and planned geophysical analysis position it well for a potentially transformative year ahead. The upcoming drilling campaigns will be critical in defining the commercial viability of the gold mineralisation identified so far, with investors keenly awaiting further assay results and resource updates.