Marmota gains ministerial consent for ownership of Golden Moon gold tenements

Marmota (ASX: MEU), via wholly owned subsidiary Half Moon, has received ministerial consent for the 90% transfer of title relating to the Golden Moon tenements in South Australia.

Tenements EL 5998 and EL 6569 include four of the Arc of Six gold deposits along the flanks of a major Y-shaped gravity anomaly in the north-west Gawler Craton: Mainwood, Greenewood, Campfire Bore and Golf Bore.

These four gold deposits make up the Golden Moon joint venture Marmota shares with private company Coombedown Resources and Marmota now holds at least 90% equity in each of the five unmined gold deposits within the Arc.

Title transfer

Marmota chair Dr Colin Rose said ministerial consent had finalised the company’s 90% ownership of the Golden Moon tenements and associated minerals, including gold.

“We are delighted that the title transfers of these core tenements have been formally completed, ticking off another box of our Gawler project,” he said.

“The Golden Moon assets are highly attractive projects and we are pleased to be aligned with a professional and experienced joint venture partner focused on getting things done, with whom we have an excellent working relationship.”

Aurora Tank discovery

Marmota’s Gawler gold project includes the Aurora Tank discovery which has returned multiple bonanza grades over 100 g/t close to surface in five different zones, as well as outstanding metallurgical recoveries that would make it potentially amenable to a low-cost, low-capex open pit heap leach development.

The Golden Moon deposits are located close to Aurora Tank creating “obvious economies of scope and scale” for Marmota’s Gawler gold project.

The company recently commenced drilling at Campfire Bore, yielding bonanza gold intersections of 107 grams per tonne gold from 57 metres below surface, as well as five new intersections over 20g/t gold and 13 intersections over 10g/t gold.