Mamba Secures 70% of Meeka East, Defines 20km Gold Strike, Plans Drilling with $90K Co-Funding
Mamba Exploration has completed its acquisition of a 70% stake in the Meeka East Gold Project, identified over 20km of gold anomalies through soil sampling, and secured $90,000 in government co-funding for an upcoming drilling program.
- 70% acquisition of Meeka East Gold Project completed
- Soil sampling confirms over 20km gold strike with multiple anomalies
- $90,000 co-funding awarded for up to 50-hole RC drilling
- Heritage approvals underway ahead of maiden drilling
- Tenement acquisitions extend project tenure along key gold trends
Strategic Acquisition Consolidates Meeka East Control
Mamba Exploration (ASX:M24) has cemented its foothold in Western Australia's Murchison Goldfield by completing the acquisition of a 70% interest in Meekatharra Minerals East Pty Ltd, the owner of the Meeka East Gold Project. The deal, finalised on 15 April 2026, followed a $2 million capital raise and shareholder approval, marking a significant step in Mamba's growth strategy.
Soil Sampling Unveils Extensive Gold Anomalies
Recent soil sampling results have validated the "Gold in Sediments" geological concept, revealing over 20 kilometres of prospective strike. Key anomalies were identified at the 140' Well target, with three additional major stratigraphic anomalies; New Australian, Lady Maud, and Bella; expanding the project's footprint. These trends extend the Mulga Bill gold corridor, a significant structure already recognised by Great Boulder Resources Limited (ASX:GBR), into Mamba's tenure.
Government Co-Funding Supports Drilling Ambitions
Backing the exploration momentum, the Western Australian Government awarded Mamba $90,000 under its Exploration Incentive Scheme to co-fund a planned reverse circulation (RC) drilling program. The maiden campaign is designed to include up to 50 holes spaced at 50 metres and drilled to depths of 120 metres, targeting the newly delineated gold anomalies. Heritage surveys and Program of Work submissions are underway, with drilling slated to commence once approvals are secured.
Expanding Tenure Along the Bella and New Australian Trends
Post-quarter, Mamba has further bolstered its position by acquiring three prospecting licence applications along the Bella Trend, adding 5.38 square kilometres of prospective ground. Additionally, three more licences were pegged on the New Australian South trend, extending contiguous tenure along the Mulga Bill structure. These moves reinforce Mamba's commitment to consolidating strategic gold corridors within the Meeka East Project area.
Financial Position and Next Steps
At quarter end, Mamba held a cash balance of A$1.2 million, following exploration expenditure of A$254,000 capitalised during the period. Related party payments, including director fees, totalled A$106,000. With heritage surveys scheduled for late July and regulatory approvals pending, the company is poised to transition from exploration targeting to active drilling. Meanwhile, regional-scale soil sampling at the Ashburton Project is planned to identify additional gold targets.
Bottom Line?
Mamba's consolidation of Meeka East and extensive gold anomalies set the stage for a pivotal drilling campaign, with upcoming heritage approvals and assay results likely to shape near-term investor interest.
Questions in the middle?
- Will the upcoming drilling confirm the extent and grade of gold mineralisation along the 20km strike?
- How will the new tenement acquisitions impact the overall resource potential and project valuation?
- What timelines can investors expect for heritage approvals and the commencement of drilling activities?
