MAMBA EXPLORATION (ASX:M24)
M24 has picked up rocks containing up to 34.3% copper and 230/t silver in the explorer’s first reconnaissance field trip to the historical ‘Copper Flats ‘project in WA.
M24 managing director Mike Dunbar is a proven mine finder and builder. He was involved in the discovery and development of the +2moz Thunderbox gold mine, the delineation and development of the +1Moz Dalgaranga gold mine, and the discovery and delineation of the +1Moz Glenburgh gold deposit.
“It is not often that grades up to 34% copper are identified from surface sampling,” Mike Dunbar says.
“To also have highly elevated silver grading up to 230 g/t at the same time is a great outcome. We believe this validates our belief that the Copper Flats Project has significant potential, the scale of which is not yet fully appreciated.”
The sampling confirmed the high grades from known prospects, identified new areas of mineralisation, and highlighted several structural and stratigraphic targets, Dunbar says.
Additional tenements have been lodged with the mines department, more than doubling the size of the project to ~2,320sqkm.
Airborne geophysical surveys for the project are expected to be undertaken early in the 2022 field season.
The $8m market cap stock is up 15% over the past month.
