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MENAFN - ProactiveInvestors - Australia - 22/01/2013

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(MENAFN - ProactiveInvestors - Australia) Mamba Minerals (ASX: MAB) is preparing to kick off the inaugural two stage drilling program targeting magnetite mineralisation in the northern section of its Snelgrove Lake Project in Labrador, Canada.

The program is designed to follow up on the positive results attained from trenching, grab sampling and geophysics.

Analysis of 185 grab samples had yield between 25% and 35% iron from magnetite rich taconite ore.

Six priority diamond drill targets have been identified for the first phase of drilling. These have hole depths of between 250 metres and 350 metres for a total of about 1,700 metres.

The Phase 2 drilling program will start as soon as possible after Phase 1. This will be designed based on results from the first phase.

Drilling equipment is currently being mobilised to Schefferville; then out to site with drilling expected to start on 7 February 2013.

Snelgrove Lake is located about 60 kilometres from a railway connecting it to the port of Sept-Iles and in the vicinity of the major producing iron ore mines in the Labrador Trough.

It hosts a prominent iron formation with 33 kilometres of strike, 200 metres wide and potential for DSO.

 






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