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Company Announcement: First hematite hole returns 303m intersection with mineralisation still open

8th April 2013

By: Creamer Media Reporter

  

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Mamba Minerals Limited  (0.79 MB)

Mamba Minerals is pleased to announce that it has completed drilling the hematite discovery hole at its Snelgrove Lake Iron Project in Canada. The diamond drill hole (MM-13-05) had returned a 303m intersection of hematite ore when drilling was stopped at a total downhole depth of 318m. The hole remains in mineralisation.
 The hole was drilled to test the first of four Direct Shipping ore targets at the southern end of the Snelgrove project area. Snelgrove is located in the Labrador Trough in eastern Canada. The hole was drilled at a 50 degree angle from surface. At a down-hole depth of 318m, geotechnical assessment has confirmed that the deposit is at least 235m deep and potentially wider than 90m based on the main ore body dipping at approximately 70 degrees from surface.

Drilling of the second diamond hole (MM-13-06) to test the same target is now underway 150m to the north-west of the first hole. The azimuth of this second hole has been reversed to drill perpendicular to the known hematite mineralisation dip to better test the true width. Hole MM-13-06 is anticipated to reach a total down hole depth of approximately 200m. At least two more drill holes, MM-13-07 & MM-13-08, will commence drilling in this winter program targeting DSO. The four significant DSO targets have been identified from gravity and magnetic anomaly data as having a total area measuring 7km by approximately 250m.
 

Edited by Creamer Media Reporter

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