Mamba Exploration Limited (ASX:M24) has formalised and executed a private land access and compensation agreement covering the high priority southern EM target at the Black Hills Project in Western Australia.
The project is approximately 30km northeast of the high-class Julimar deposit discovered by Chalice Mining and near the town of Bolgart in the Darling Range.
The agreement allows the company to undertake on ground activities including initial drilling of the high priority VTEM targets in the southern portion of the tenement.
The agreement has been lodged with the Department of Mines, Industry Regulation and Safety (DMIRS) to allow inclusion of this private land into the tenement.
Once the amendments to the tenement have been certified by DMIRS, a programme of work (PoW) will be submitted allowing drilling to be undertaken once the crops in the area are harvested.
In the meantime, a ground based geophysical survey has been planned, which is expected to be completed and modelled in the current quarter, allowing the detailed drill planning to be undertaken prior to drilling in Q4 CY2022.
After an extended period of consultation and negotiation, we are pleased to have finalised the land access agreement with the landowner for the highest priority VTEM target at Black Hills,´ Mamba’s Managing Director, Mike Dunbar, said.
“The target is coincident with a 6km long 2PGE anomaly, mapped ultramafic rocks and along strike from significant nickel rock chip samples. The agreement allows land access for geochemical sampling and geophysical surveys as well as initial drilling of the target, which is an excellent outcome for all involved.
“The geological setting is interpreted to be similar to that of Gonneville intrusion and geophysical trend which hosts the Julimar PGE-Ni-Cu-Co-Au deposit discovered by Chalice Mining located approximately 30km to the southwest of Black Hills.
“I would like to thank the farmers involved for the way in which the negotiations and consultation was undertaken over the last 15 months and I believe it shows that consulting and negotiating in good faith can result in an outcome that benefits all involved.”