Mantle Minerals’ (ASX:MTL) March quarterly highlights Roberts Hill restart, WA

The Market Herald2023-04-21

Mantle Minerals (MTL) releases its March quarterly activities report, highlighting the restart of gold exploration at Roberts Hill within its Mallina gold project in WA Meanwhile, the company received...

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These survey results are expected in June.\nA regional geology and geophysics study of the Mallina tenements is now underway, including at Mt Berghaus. This will determine prospective rock types and structures that may coincide with gold soil anomalies.\nAdditionally, the quarter saw the company receive results from its second phase of drilling at the Highway deposit within its Pardoo nickel sulphide, east of Port Hedland.\nHighlights from the drilling included 68 metres at 0.44 per cent nickel and 0.1 per cent copper, which will be included in the company’s upcoming mineral resource estimate.\nThe mineralisation in the area remains open both along strike and at depth.\nThe company’s cash outflows for the March 2023 quarter were $76,377 for Pardoo and $25,731 for Mallina Basin.\nMantle is already off to a flying start for the new quarter, having received commitments to raise $1.7 million via a placement to sophisticated and professional investors plus directors.\nFollowing the placement, the company anticipates it will have a cash balance of over $3.2 million, which it will use for gold exploration in the Mallina Basin.\nMantle Minerals shares were up 25 per cent to 0.25 cents at 3:59 pm AEST.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2329776290"}