Mamba Minerals confirms Snelgrove hematite

THE DRILL SERGEANT: Mamba Minerals (ASX: MAB) has intersected 61 metres of hematite in the second diamond hole drilled to test a significant hematite target at its Snelgrove Lake iron project, located in the Labrador Trough in eastern Canada.

 

Source: Company announcement

 

The hematite was intersected at a down hole depth of just eight metres and remains open at depth.

The hole is expected to be drilled to a down hole depth of 200m.

The second hole was drilled to test the hematite target after the initial discovery hole returned a 303m intersection of hematite.

This hole was still in mineralisation when drilling was stopped.

At a down-hole depth of 318m, geotechnical assessment confirmed the deposit is at least 235m deep.

Mamba said it considers the latest result to be of some significance as, based on the results of the discovery hole, hematite was not expected to be encountered until a down hole depth of 60 to 80m.

“The fact that the hematite has been intersected so close to surface suggests that the true thickness of the mineralisation is likely to be greater than the 90 metres estimated previously,” Mamba minerals said in its ASX announcement.

“This view is based on the mineralisation dipping at approximately 70 degrees from surface and drilling taking place at 50 degrees from surface.”

The company indicated its summer drilling program will now target step-out drill hole locations from both the discovery drill hole and the current hematite hole.

It is anticipated this will allow the company to better define the DSO gravity target geology and potential resource of the CLC Deposit.

At least two more holes are to be drilled in the upcoming winter program to target hematite.