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Colin Hay

Mamba Exploration (ASX: M24) has signed a drilling contract with Base Diamond Drilling for an upcoming programme at the Canary uranium project in Canada.

The programme will be for 2,500 metres of diamond drilling at Canary and is expected to commence in early May 2024. This will be Mamba’s maiden drilling programme at Canary. The company has also secured other key logistical requirements, including accommodation and helicopter support.

“Locking in a drilling contractor for the Canary Project signals the start of an exciting period for Mamba,” Executive Director Simon Andrew said.

“With the support of Standard Uranium, our partner in the Canary Project, we have been able to secure a key service provider at a time when competition is rapidly increasing for service providers in the Athabasca Basin. We look forward to working with Base Diamond Drilling as we head towards the drilling of the Canary project in early May.”

The Canary Project

The Canary project consists of two mineral dispositions covering an area of 73 sq. km and is located 11 km directly north of IsoEnergy’s Hurricane deposit (48.61 million lbs of U3O8 based on 63,800 tonnes grading 34.5% U3O8).

Historical drilling on the project identified anomalous uranium, which, together with recently defined geophysical anomalies, suggests the Project is highly prospective for both unconformity-style and basement-hosted uranium mineralisation.

Exploration work by Standard Uranium, the parent company of the vendor of the project, has identified a range of high-priority drill targets that Mamba intends to test in May 2024.

Based on historical drilling, the Athabasca- basement unconformity has been intersected between 84 and 230 meters from the surface on the project, resulting in shallow drill target depths2. Additionally, of the three major conductive trends on the Project, only one has been adequately drill tested, and elevated uranium was intersected.



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