Mamba Exploration Ltd. has significantly expanded its gold and copper exploration potential in Western Australia after securing additional tenure along major mineralised trends.
The company has agreed to acquire a 100 per cent interest in three prospecting licence applications covering 5.38 square kilometres on the Bella Trend.
Located within Mamba’s flagship Meeka East gold project, the new leases extend the company’s coverage of key target structures and are immediately eligible for inclusion under its existing heritage agreement.
As consideration for the acquisition, Mamba will issue 2.5 million fully paid ordinary shares to vendor Peter Bernard Schwann, subject to a 12-month voluntary escrow period.
In tandem with the purchase, Mamba has also pegged an additional three licence applications covering a combined five square kilometres on the adjacent New Australian South trend, further increasing its prospective landholding.
The land deal comes at a pivotal time for the explorer, with a Yugunga-Nya heritage survey officially locked in for late July.
Mamba has already submitted its programme of works (PoW) and is targeting the immediate commencement of a 50-hole reverse circulation (RC) drilling campaign as soon as regulatory and heritage greenlights are received.
The upcoming drill program will be supported by a $90,000 grant from the WA government’s Exploration Incentive Scheme (EIS).
Beyond its primary gold targets, Mamba has initiated a comprehensive review of historical exploration data across its Copper Hills and Gabanintha tenure.
The copper review follows highly encouraging regional exploration results released by nearby peer Solstice Minerals at its Nanadie project.
Meanwhile, a planned 1,400-sample soil program at Mamba’s separate Ashburton Project has been pushed back following heavy rain delays.
Management opted to reschedule the program to prioritise planning for the imminent Meeka East drilling campaign.
