Mantle Minerals Unveils 11 New WA Targets After $13.5M Mt Roe Sale

Strategic Divestment Strengthens Focus

Mantle Minerals Limited has taken a decisive step in reshaping its exploration strategy by completing the sale of its wholly owned subsidiary, Mt Roe Mining Pty Ltd, to Northern Star Resources for AUD 13.5 million in cash. This divestment allows Mantle to concentrate its resources and capital on its core projects, Yule River and Pardoo, both located in Western Australia’s mineral-rich regions.

Yule River, A Hotbed of New Targets

The Yule River Project, situated about 35 kilometres west of Port Hedland, has emerged as a focal point for Mantle’s exploration ambitions. A recent detailed geophysical reinterpretation of high-resolution airborne magnetic data has revealed potential extensions of a concealed greenstone belt, a geological setting known to host significant mineral deposits. Eleven new targets have been identified, spanning a range of mineralisation styles including volcanogenic massive sulphide (VHMS), orogenic gold, and magmatic nickel-copper-platinum group elements (Ni-Cu-PGE).

Among these, Target YR1 stands out as the highest priority VHMS prospect. It aligns with a magnetic anomaly previously drilled in the early 1990s, showing signs of magnetite alteration consistent with a feeder conduit beneath felsic volcanic rocks. This structural setting, where the Scholl Shear Zone and Yule River Shear Zone converge, is analogous to the prolific De Grey Hemi deposit, adding further intrigue to the prospect.

Preparing for 2026 Drilling

To sharpen drill targeting, Mantle plans to conduct a ground gravity survey focused on Target YR1. This survey aims to map density contrasts indicative of massive sulphide or ultramafic bodies, integrating results into a 3D inversion model to better define the geometry and depth of the target. Drilling is anticipated to commence in 2026, potentially unlocking new mineral resources in this promising area.

Pardoo Project and Carlton Hill Expansion

Meanwhile, at the Pardoo Project, located approximately 120 kilometres east of Port Hedland, Mantle continues to consolidate historical exploration data. The project includes the Highway Nickel Deposit, boasting a JORC-compliant resource of 16.5 million tonnes at 0.407% nickel, containing over 67,000 tonnes of nickel. The ongoing desktop review seeks to identify untested structural and geophysical targets for field verification in 2026.

Additionally, Mantle has expanded its exploration footprint by pegging new tenure at Carlton Hill in the northern Bonaparte Basin, an underexplored area along a structural trend that hosts the Sorby Hills lead-zinc-silver system. Initial work will focus on data compilation and reconnaissance to identify prospective zones for follow-up.

Financial Position and Outlook

The proceeds from the Mt Roe sale have bolstered Mantle’s cash position to over AUD 13 million, providing a solid financial foundation to advance its exploration programs. Exploration expenditure during the quarter was modest, reflecting a focus on technical studies and planning ahead of field activities. No mining production occurred during the period, consistent with the company’s exploration stage status.