Marmota (ASX: MEU) has unearthed high-grade gold in numerous 1m assay results from recent extensional reverse circulation drilling at its Aurora Tank project in South Australia.
Better high-grade intercepts were 1m at 74 grams per tonne gold, 1m at 53g/t gold, and 1m at 44g/t gold.
Marmota chairman Dr Colin Rose said the results were from Marmota’s seventh drilling program at Aurora Tank.
“Each and every one of those programs so far has been a success.”
“This program has seen Marmota prove up and double the size of the NW flank with multiple high-grade intersections, and with geological continuity as it extends to the NE.”
Dr Rose pointed out many of the high-grade intercepts identified to date were within 50m of surface. However, in this latest program, may of the “outstanding” intercepts were below 50m.
“I find this particularly pleasing given that these results have been obtained in an extensional zone.”
NW flank and Aurora Tank
Marmota initially identified the NW flank within the project during an earlier drilling program in 2019.
That program was following up on elevated gold that was uncovered during biogeochemical sampling.
This latest drilling program has extended the NW flank from 95m of strike to 190m, with mineralisation remaining open towards the NE.
As a result, Marmota has begun planning the next round of drilling while also seeking to advance the project towards production.
While drilling is being carried out, Marmota will work on various studies and regulatory approvals that are all necessary to begin mining.
Marmota is looking to develop a low cost, low capital expenditure, open pit mining operation using heap leach techniques – eradicating the need for construction of a mill or sharing revenue via a toll treatment agreement with a third party.