Mamba Exploration (ASX:M24) announced a strategic expansion, entering into a binding agreement to acquire a 70% interest in the Meeka East Gold Project.
Located in the prolific Murchison Goldfield of Western Australia, the project is situated along the southern extension of the highly prospective Mulga Bill trend.
Initial geochemical surveys have already identified a low-level gold anomaly stretching over a 3km strike length, with geological modeling suggesting the potential for over 6km of total strike within the underexplored northern project area.
To fund the acquisition and accelerate exploration, Mamba has secured firm commitments for a $2 million placement at $0.015 per share.
The capital will support a high-priority work program, including infill soil sampling and a planned drilling campaign in Q2 2026, pending heritage agreements.
Alongside the acquisition, the company has bolstered its leadership team, appointing resources executive Matt Freedman as executive director and seasoned geologist Peter Schwann as technical advisor.
Chairman Simon Andrew noted that the deal marks a significant inflection point for the company.
At the time of reporting, Mamba Exploration's share price was $0.028.