Maiden 2024 drill campaign commences at Mamba’s Canary project in Canada’s Athabasca Basin
Phase I consists of 3-4 diamond drill holes for up to 1500m along the northern corridor
Canary just 11km from super high-grade 34.5% U3O8 Hurricane deposit
Special Report: The first hole of a 3-4 diamond drill campaign at Mamba Exploration’s Canary uranium project has commenced in partnership with seasoned Athabasca yellowcake hunter Standard Uranium.
Mamba Exploration’s (ASX:M24) Canary project is just 11km from TSX-listed IsoEnergy’s super high-grade 48.61Mlb @ 34.5% U3O8 Hurricane deposit and within the same geological domain.
Hurricane has been a company maker for IsoEnergy, which is up ~1500% over the past four years.
M24’s 73km² Canary project is currently under a three-year earn-in option agreement with operators Standard Uranium, a company which knows the Athabasca like the back of its hand with at least 11 projects currently in the region.
The tenements cover more than 16 km of conductive corridors across three prospective exploration trends which locally host anomalous historical uranium occurrences.
The project sits in the Mudjatik geological domain where several recent discoveries have been made – notably IsoEnergy’s Hurricane deposit – and is significantly underexplored relative to adjacent magnetic low/EM conductor corridors.
Projects in the northeastern Athabasca Basin including the Canary project and the nearby Hurricane deposit. Pic supplied: (M24)
2024’s maiden drill campaign
The spring/summer drilling helicopter exploration program at Canary will focus on high priority targets identified by Standard Uranium in 2022 and 2023 and will be the first campaign completed in conjunction with M24 on the project.
In 2022, Standard Uranium completed a high-resolution ground DC/IP survey on the project which provided valuable structural and lithological information in the area to identify conductive bodies and potential fault systems.
M24 says the surveys show significant resistivity-low anomalies are present along the northern conductor which potentially represent substantial hydrothermal alteration zones in the sandstone and are coincident with basement conductors.
One diamond hole will focus on the highest priority target along that corridor which will investigate a significant resistivity anomaly for the first time.
Highlighted anomalies being targeted in the current drill campaign. Pic supplied: (M24)
“Drill targets have been prioritised on the northern Canary EM corridor, providing robust and untested drill targets for the Phase I drilling program,” the explorer says.
“Additonally, legacy GeoTEM data defining the southeastern EM corridor on the project is directly comparable to the response and scale of the GeoTEM conductor, which hosts the Roughrider/J-zone uranium deposits further to the south.
“Highly anomalous geochemistry and favourable alteration was returned from historical drill hole CRK-137 along the southeastern conductor, providing an exceptional follow-up target.”
This article was developed in collaboration with Mamba Exploration, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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