Mamba Exploration Limited advised that it has commenced a 50 hole aircore /RC drill programme to provide an initial test of the gravity anomaly that was identified from the recent gravity survey. As announced on the 2nd of March 2023, the gravity modelling of the main area of interest identified a relative density low, which is interpreted to represent a bedrock REE target. The planned drilling has been designed as an initial shallow test of the gravity target to assist in targeting deeper drilling and to confirm the historical sampling in the area which identified phosphorus assay results including up to 9400ppm P, which when converted to an oxide (P2O5) equates to 2.15%.

Other samples reported up to 2.06%, 1.88% and 1.56% P2O5 and rare earth oxide results up to 1,295 ppm 2REO + Y2O3 (La2O3 + CeO2 + Y2O3). In addition, Mamba has received the assay results for the initial 23 aircore holes completed in January over the clay-hosted REE target, 2.5kms to the west of the gravity target. This programme was designed to test around the three historical results that identified shallow TREO mineralisation in clay.

The results are currently being compiled to determine the significance, with an announcement being prepared, with release expected early next week.