Mamba Exploration has sharpened its focus on gold exploration at the Ashburton Project, spotlighting the Bettina Prospect after historic high-grade results and a large gold anomaly signal promising near-term discovery potential.
- Strategic refocus on Ashburton Project gold exploration
- Bettina Prospect shows historic rock chips up to 46.5 g/t Au
- Significant gold-in-auger anomaly remains largely untested
- Phased exploration program with modern soil geochemistry and structural mapping
- Company ends quarter with $264K cash, ongoing project evaluations
Strategic Shift to Gold Exploration
Mamba Exploration Limited has announced a renewed strategic emphasis on gold exploration within its Western Australian portfolio, prioritising the Ashburton Project. This pivot comes amid a strengthening gold market and builds on historically impressive high-grade results from the project, particularly at the Bettina Prospect.
The company’s decision follows a comprehensive review of its exploration priorities, aiming to deliver near-term discovery outcomes by leveraging modern exploration techniques on promising targets.
Bettina Prospect, A High-Grade Opportunity
The Bettina Prospect stands out as the initial focus of Mamba’s renewed activity. Historical exploration has revealed rock chip samples with gold grades as high as 46.5 grams per tonne and reverse circulation drilling intercepts up to 4 metres at 21.5 grams per tonne. Additionally, a substantial 300 by 250-metre gold-in-auger anomaly with values reaching 36 parts per billion gold; approximately 15 times the background level; has been identified, with much of this anomaly yet to be tested by drilling.
These findings underscore the prospect’s potential, which remains open in all directions, inviting further systematic exploration.
Exploration Program and Geological Context
Mamba plans a phased exploration program beginning with a regional-scale geochemical survey using ultra-fine fraction soil sampling along the 34-kilometre strike of the Minga Bar Fault. This major structural corridor is recognised for hosting significant gold mineralisation and is geologically analogous to nearby successful projects operated by peers such as Dreadnought Resources.
Following initial sampling, the company intends to conduct detailed geological mapping and field reconnaissance to refine targets for follow-up drilling. The exploration strategy also includes investigating the Thirty Bob Bore Fault, another prospective structure within the project area.
Financial Position and Corporate Updates
Financially, Mamba closed the quarter with a cash balance of $264,000, having spent $87,000 on exploration activities. Related party payments, including director fees, totalled $52,000 during the period. The company also announced the resignation of joint company secretary Ms Kristi Bryson, signalling some executive changes as it advances its exploration agenda.
Meanwhile, Mamba continues to evaluate new project opportunities to complement its existing portfolio, maintaining a proactive stance in project generation and acquisition.
Bottom Line?
With a clear strategic focus and promising historical data, Mamba’s next exploration phase at Ashburton could be pivotal for its growth trajectory.
Questions in the middle?
- Will Mamba secure additional funding to sustain its exploration ambitions beyond the current cash runway?
- How will upcoming assay results from the Bettina Prospect influence the company’s exploration strategy?
- What is the potential impact of executive changes on Mamba’s operational momentum and investor confidence?