# M24: $6M PLACEMENT, EARN-IN, KEY INVESTMENT & STRATEGIC ADVISER Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03147665 Publisher: asx Original announcement: 2026-10-01T23:26:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-02T00:18:17.203Z Atlas analysis updated: 2026-10-02T00:18:17.203Z - Company: Mamba Exploration Limited - Ticker: M24 - Exchange: ASX - Region: Western Australia - Primary commodity: Copper - Secondary commodities: Gold, Silver, Lead, Tellurium, Chromium, Iron ore, Sulfur - Document categories: Capital raise, Agreement transaction, Drill results, Metallurgy - Extracted: 2026-10-02 00:18:18 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Mamba Exploration Limited has successfully raised $6.0 million through a placement, securing strong support from strategic and institutional investors, including a $500,000 commitment from regional producer New Murchison Gold. The company also announced an earn-in agreement for the Poison Hills Project in Western Australia, which has yielded bonanza-grade rock chip samples with up to 2,906 g/t silver, 2.63 g/t gold, 0.63% copper, and 0.73% lead. Additionally, Mamba has appointed Westgold founder Peter Cook as Strategic Adviser, further strengthening its technical and strategic capabilities for its Murchison projects. Reasoning: The announcement details a successful $6.0 million capital raise with strategic backing, a new earn-in agreement for the prospective Poison Hills Project, and the appointment of key strategic advisers. The new rock chip sample results from Poison Hills show exceptionally high grades for silver, gold, copper, and lead, indicating significant exploration potential. While historical drill results are re-reported, the overall news flow is highly positive for the company's funding, strategic direction, and project pipeline. - Positive factor: Successful $6.0 million capital raise with strong strategic and institutional support. - Positive factor: Strategic investment from regional gold producer New Murchison Gold Limited. - Positive factor: Appointment of highly experienced mining figures Peter Cook and Peter Schwann as Strategic and Technical Advisers. - Positive factor: Acquisition of the Poison Hills Project via a staged earn-in agreement, adding a new prospective area. - Positive factor: Very high-grade silver, gold, copper, and lead rock chip samples from the Scorcher Vein at Poison Hills. - Positive factor: Proposed technical services arrangement with New Murchison for regional support. - Negative factor: Historical drill results are re-reported, lacking novelty as new information. - Negative factor: Rock chip samples are selective and not necessarily representative of overall mineralization. - Negative factor: Technical services arrangement with New Murchison is still subject to negotiation and not binding. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 127 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("concentrate"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 13. Some facts used in scoring do not have a stored record. ## Drill Results (9) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-10) Meeka East · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 1 - Grade Unit: % - Intercept: 26 m - From: 24 m - To: 50 m - Intercept Depth: 24 m #### Classification - Sample Type: drill - Group ID: Meeka\_East:24-50 #### Location - Location: Copper Hills - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: A solid historical copper intercept, providing context for the project's potential. - Positive factor: Good grade and width for copper mineralization. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > Copper Hills – 26.0m @ 1.0% Cu and 0.33 g/t Au from 24.0m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-11) Meeka East · gold Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 0.33 - Grade Unit: g/t - Intercept: 26 m - From: 24 m - To: 50 m - Intercept Depth: 24 m #### Classification - Sample Type: drill - Group ID: Meeka\_East:24-50 #### Location - Location: Copper Hills - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Historical gold credit in a copper intercept. - Positive factor: Gold credit alongside copper mineralization. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > Copper Hills – 26.0m @ 1.0% Cu and 0.33 g/t Au from 24.0m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-12) Meeka East · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 1.7 - Grade Unit: % - Intercept: 8 m #### Classification - Sample Type: drill #### Location - Location: Copper Hills - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: A higher-grade historical copper sub-interval. - Positive factor: Higher-grade copper within a broader intercept. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > incl. 8.0m @ 1.7% Cu #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-13) Meeka East · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 1.1 - Grade Unit: % - Intercept: 23.1 m - From: 39.9 m - To: 63 m - Intercept Depth: 39.9 m #### Classification - Sample Type: drill - Group ID: Meeka\_East:39.9-63 #### Location - Location: Copper Hills - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Another solid historical copper intercept. - Positive factor: Another good width and grade for copper mineralization. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > 23.1m @ 1.1% Cu from 39.9m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-14) Meeka East · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 1.8 - Grade Unit: % - Intercept: 9.6 m #### Classification - Sample Type: drill #### Location - Location: Copper Hills - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: A higher-grade historical copper sub-interval. - Positive factor: Higher-grade copper within a broader intercept. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > incl. 9.6m @ 1.8% Cu #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-15) Meeka East · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 1.3 - Grade Unit: % - Intercept: 13.4 m - From: 151.7 m - To: 165.1 m - Intercept Depth: 151.7 m #### Classification - Sample Type: drill - Group ID: Meeka\_East:151.7-165.1 #### Location - Location: Lady Alma - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: A solid historical copper intercept. - Positive factor: Good grade and width for copper mineralization. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > Lady Alma – 13.4m @ 1.3% Cu from 151.7m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-16) Meeka East · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 2.7 - Grade Unit: % - Intercept: 5.2 m #### Classification - Sample Type: drill #### Location - Location: Lady Alma - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: A higher-grade historical copper sub-interval. - Positive factor: Higher-grade copper within a broader intercept. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > incl. 5.2m @ 2.7% Cu #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-17) Meeka East · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 1 - Grade Unit: % - Intercept: 16.4 m - From: 93.5 m - To: 109.9 m - Intercept Depth: 93.5 m #### Classification - Sample Type: drill - Group ID: Meeka\_East:93.5-109.9 #### Location - Location: Lady Alma - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Another solid historical copper intercept. - Positive factor: Good grade and width for copper mineralization. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > 16.4m @ 1.0% Cu from 93.5m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-drill-facts-18) Meeka East · copper Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Meeka East - Commodity: copper - Region: australia\_wa - Reported Region: australia\_wa - Ticker: M24 #### Geometry - Grade: 5.1 - Grade Unit: % - Intercept: 1.5 m #### Classification - Sample Type: drill #### Location - Location: Lady Alma - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-09-21T00:00:00.000Z #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: A very high-grade historical copper sub-interval. - Positive factor: Very high-grade copper within a broader intercept. - Negative factor: Result is historical and re-reported, lacking novelty. Evidence · text > incl. 1.5m @ 5.1% Cu #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ## Metallurgical Results (4) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-metallurgical-facts-123) Poison Hills Project · gold #### Identity - Project: Poison Hills Project - Commodity: gold - Region: australia\_wa - Reported Region: Western Australia - Ticker: M24 #### Test Work - Sample: panned concentrate from HGR00241 location #### Lab - Laboratory: Intertek Genalysis #### Location - Easting: 701944 - Northing: 7007230 - CRS: GDA94, MGA Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: High gold grade in concentrate suggests free gold, but not indicative of overall rock grade. - Positive factor: Very high gold grade in panned concentrate, indicating presence of free gold. - Negative factor: Result is from a panned concentrate and not representative of in-situ grade. Evidence · table > 139.53 Context: SVC001 ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-metallurgical-facts-124) Poison Hills Project · silver #### Identity - Project: Poison Hills Project - Commodity: silver - Region: australia\_wa - Reported Region: Western Australia - Ticker: M24 #### Test Work - Sample: panned concentrate from HGR00241 location #### Lab - Laboratory: Intertek Genalysis #### Location - Easting: 701944 - Northing: 7007230 - CRS: GDA94, MGA Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Exceptional silver grade in concentrate suggests strong silver presence, but not indicative of overall rock grade. - Positive factor: Extremely high silver grade in panned concentrate, indicating significant silver mineralization. - Negative factor: Result is from a panned concentrate and not representative of in-situ grade. Evidence · table > 29,727 Context: SVC001 ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-metallurgical-facts-125) Poison Hills Project · chromium #### Identity - Project: Poison Hills Project - Commodity: chromium - Region: australia\_wa - Reported Region: Western Australia - Ticker: M24 #### Test Work - Sample: panned concentrate from HGR00241 location #### Lab - Laboratory: Intertek Genalysis #### Location - Easting: 701944 - Northing: 7007230 - CRS: GDA94, MGA Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: Chromium content reported in concentrate, but not representative of in-situ grade. - Negative factor: Result is from a panned concentrate and not representative of in-situ grade. Evidence · table > 6,116 Context: SVC001 ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/m24-6m-placement-earn-in-key-investment-strategic-adviser--db790045-c601-42a9-89e6-19f0552ba056#fact-metallurgical-facts-126) Poison Hills Project · copper #### Identity - Project: Poison Hills Project - Commodity: copper - Region: australia\_wa - Reported Region: Western Australia - Ticker: M24 #### Test Work - Sample: panned concentrate from HGR00241 location #### Lab - Laboratory: Intertek Genalysis #### Location - Easting: 701944 - Northing: 7007230 - CRS: GDA94, MGA Zone 50 - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-01T00:00:00.000Z Reasoning: High copper grade in concentrate suggests strong copper presence, but not indicative of overall rock grade. - Positive factor: High copper grade in panned concentrate. - Negative factor: Result is from a panned concentrate and not representative of in-situ grade. Evidence · table > 66,824 Context: SVC001 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.