Mamba Minerals extends CLC deposit with third hematite hit

/in /by

THE DRILL SERGEANT: Mamba Minerals (ASX: MAB) drilled a wider than expected intersection from the CLC hematite iron ore discovery at the company’s Snelgrove Lake project in Canada’s Labrador Trough.

A third diamond drill hole at CLC has returned a 90 metre hematite intersection.

The hole remained in hematite when drilling was stopped due to difficult conditions at a down-hole depth of 260m.
 
Mamba now estimates CLC to have increased 36 per cent from 125m to an estimated a true width of 170m.

Hematite has been intersected from just 15m below the surface to a vertical depth of 235m, where it remains open.

The company said it had estimated the strike length of the deposit to be approx. 2km based on gravity and magnetic data.

 

The third diamond drill hole at CLC (MM-13-08) has returned a 90m hematite intersection. Source: Company announcement

 

“This latest result provides more strong evidence that CLC is a substantial hematite deposit,” Mamba Minerals chairman Greg Burns said in the company’s announcement to the Australian Securities Exchange.

“And given that the mineralisation remains open at depth and along strike, there is clearly potential to expand on known boundaries.”

Mamba intends testing the dimensions of the CLC deposit as part of the company’s summer drilling program, which will see the first of some 15 holes drilled in July.

This drilling program will be supported by results of a ground gravity survey to be conducted over CLC, as well as the Blaire and Bryman targets and an infill airborne gravity and magnetic survey over most of the Direct Shipping Ore targets of the project.

Airborne gravity and magnetic surveys have previously been conducted at 200m spacing.

These two new programs will infill to 100m spacing, which Mamba expects will provide clearer outlines of the target boundaries and drilling priorities.

Assays have also confirmed the deposit contains very low aluminum (0.5 per cent) and low levels of phosphorus (0.053 per cent), which Mamba considers would potentially increase the price paid for the final product because it could be blended with high-aluminum iron ore fines from the Pilbara.

Metallurgical test work is being undertaken to confirm the ability to upgrade Snelgrove hematite ore using conventional mechanical processes.