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MAMBA MINERALS LIMITED - ASX: MAB
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Description
Mamba is exploring for gold, nickel and gold-copper deposits in highly endowed mineral provinces in Mozambique. The Company has selected and acquired, subject to completion of the Offer, exploration projects which in the opinion of the Directors have high-potential, with a focus on advanced projects in regions with good mining infrastructure.
Mamba's ultimate goal is the discovery and development of world-class mineral deposits. The Company's initial efforts will be directed towards the discovery and development of smaller, less capital intensive projects with potential to fund the on-going search for larger deposits.
Mamba's activities will focus on:
* mineral deposit styles that can be cost-effectively explored using modern exploration methods;
* deposits that are amenable to profitable development by a Mamba-sized company either by itself or, where appropriate, in joint venture with mining groups with the required skills;
* understanding exploration in established mineral provinces that have demonstrated potential for the mineral deposits sought;
* developing projects containing or adjacent to established high-potential mineral deposits, rather than rely upon "greenfields" exploration alone; and
* managing risk by joint venturing selected projects to parties with the necessary exploration and financial capabilities.
Mamba's two main projects to be acquired are at Nhamocuarara and Chua in the Manica District, Mozambique. These projects offer potential for both bedrock-gold and alluvial cobble-gravel deposits.
Mine For
gold, nickel, copper
Location of operation(s)
Mozambique
Address
Level 1, 3 Richardson St
WEST PERTH, WA, AUSTRALIA
Phone
(61 8) 6389 5778
Website
Last Updated
3/5/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
