Mamba Exploration (ASX:M24) has acquired three prospecting licence applications covering 538 hectares on the Bella trend and pegged a further three applications on the New Australian South trend at its Meeka East Gold Project.
The company entered into a tenement sale agreement to fully acquire three prospecting licence applications on the Bella trend from Peter Bernard Schwann.
Under the agreement, Mamba will issue 2.5 million fully paid ordinary shares to Schwann at completion, with no royalty payable.
The said shares are subject to voluntary escrow for 12 months or until the grant of the last tenement application, whichever occurs first.
Mamba has also pegged three new prospecting licence applications covering approximately 5km² on the New Australian South trend, extending its contiguous tenure along the Mulga Bill structure.
The new tenements are eligible for inclusion in the company’s existing heritage agreement.
Mamba notes a Yugunga-Nya heritage survey of proposed drilling areas at Meeka East is scheduled for late July 2026, with a program of works already submitted.
Reverse circulation (RC) drilling of up to 50 holes is being planned following approved works programs and heritage clearances, with the company noting a $90,000 Exploration Incentive Scheme award from the Western Australian Government that will help support funding for the project.
Mamba Exploration is a Western Australia-focused gold explorer, with projects in the Ashburton/Gascoyne, Kimberley, Murchison, and Great Southern regions.
Write to Paula Fabe at Mining.com.au
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