Mamba Exploration has significantly increased its landholding at the Meeka East Gold Project through acquisition and new licence pegging, setting the stage for reverse circulation drilling pending heritage approvals.
- Acquisition of three Bella Trend prospecting licences
- New pegging on New Australian South trend adds ~5km²
- Heritage survey scheduled for late July to enable drilling
- Review of copper potential underway at Copper Hills/Gabanintha
- Ashburton soil sampling delayed by weather
Strategic Expansion of Meeka East Landholding
Mamba Exploration (ASX:M24) has broadened its footprint at the Meeka East Gold Project with a dual approach: acquiring three prospecting licence applications on the Bella Trend and pegging three additional licences on the New Australian South trend. The acquisition from Peter Bernard Schwann adds 538 hectares, extending coverage along the northern extension of the Bella Trend, a key structural corridor for gold mineralisation. Meanwhile, the newly pegged licences add roughly 5 square kilometres along the Mulga Bill structure, further consolidating Mamba's tenure in this prospective corridor.
Heritage Survey to Unlock Drilling Program
Crucially, Mamba has scheduled a Yugunga-Nya heritage survey for late July, a prerequisite for commencing its planned reverse circulation (RC) drilling campaign of up to 50 holes. This program targets gold mineralisation within the Yaloginda Formation sediments and adjacent dykes, building on promising results from a large-sample fine soil sampling program completed in April. The drilling will be supported by a $90,000 Exploration Incentive Scheme grant, offsetting part of the program’s cost. The heritage survey and regulatory approvals remain key gating items before fieldwork can begin.
Copper Exploration Review at Copper Hills
In parallel, Mamba has initiated a review of historical copper exploration data across its Copper Hills and Gabanintha tenements. This follows encouraging regional copper-gold results released by Solstice Minerals (ASX:SLS) at the nearby Nanadie Project. The review aims to verify historical data and assess whether a dedicated copper exploration program is warranted, though no definitive plans have been announced yet.
Ashburton Soil Sampling Delayed by Weather
Meanwhile, Mamba’s Ashburton Project soil sampling program, originally slated for June, has been postponed due to heavy rain. The planned 1,400-sample campaign targets gold geochemistry in sediments influenced by dolerite dykes, aligned with the Company’s Gold in Sediments exploration model. A recent lease reduction at Ashburton has also seen the Granites area relinquished after assessment deemed it non-prospective.
Share Consideration and Tenement Conditions
The Bella Trend licence acquisition is structured with a 2.5 million share consideration issued to the vendor, subject to a voluntary 12-month escrow or until the last tenement is granted. Legal transfer is conditional on ministerial consent or 12 months post-grant, with Mamba receiving an interim contractual licence to explore immediately. These tenements are eligible for inclusion under Mamba’s existing heritage agreement with Yugunga-Nya, streamlining approvals and community engagement.
Bottom Line?
Mamba’s expanded tenure and imminent heritage survey position it well to advance drilling at Meeka East, though timing hinges on regulatory approvals and weather conditions.
Questions in the middle?
- Will the heritage survey in July proceed without delays to enable timely drilling?
- What insights will the copper data review yield regarding potential new targets at Copper Hills?
- How will weather impact the rescheduled Ashburton soil sampling and subsequent exploration plans?