Mamba Exploration (ASX:M24) is taking a closer look for rare earths across its Ashburton/Gascoyne tenements located in the upper Gascoyne region of Western Australia.
The company is reporting an update on the results of the reprocessing of the Ashburton/Gascoyne regional radiometric data.
The reprocessing and rebalancing of the thorium radiometric data have highlighted at least 8 distinct anomalies within Mamba’s Ashburton/Gascoyne tenements located in the upper Gascoyne region of Western Australia.
Recent exploration activities and discoveries made in the region by others including Dreadnought Resources (ASX:DRE), and Kingfisher Mining (ASX:KFM), has highlighted the potential of the region for multiple styles of mineralisation including rare earth element (REE) mineralisation.
Mamba’s Managing Director Mike Dunbar said the Gascoyne has long been the ‘forgotten’ part of the mineral endowment of Western Australia.
“Thanks to the recent discoveries in the region made by Dreadnought and Kingfisher, this has finally changed, and we are pleased that the potential is starting to be recognised.
Our tenement package, which covers approximately 610km-square was secured in 2020 as part of our IPO on the belief that the potential of the area could host significant discoveries, which appears to be vindicated.
“Our tenement package, which covers approximately 610km-square was secured in 2020 as part of our IPO on the belief that the potential of the area could host significant discoveries”
We are pleased to announce that the reprocessing of the radiometric data has identified at least 8 discrete anomalies that warrant follow up.
As a result, the field team will be travelling to the project in the next few weeks with our pXRF to test these targets.”.
A review of the radiometric data over these discoveries has identified they have an associated radiometric (thorium) signature.
As a result, Mamba reprocessed and rebalanced the regional data over the region.
This highlighted at least 8 discrete anomalies within the company’s tenement which will be visited early next month, and the potential of the area will be assessed with the use of a pXRF.
Additional information will be released as the program progresses and new data becomes available.
Mamba Exploration is a Western Australian focused exploration company with four 100% owned geographically diverse projects.
The projects are ‘highly-prospective’ mineral exploration assets in the Ashburton/Gascoyne, Kimberly, Darling Range and Great Southern regions of Western Australia.
The projects in Ashburton/Gascoyne and Great Southern are prospective for gold and REE, while those in the Kimberly and Darling Range are prospective for base metals like copper, nickel, PGEs, manganese and REEs.
Mamba’s objective is to add significant shareholder wealth through the exploration of its projects and the discovery of economic mineral resources.
