Marmota Limited (ASX:MEU) has claimed multiple successes in its drilling programme at the Aurora Tank project in South Australia.
This includes the best ever four metre composite gold intersections of 4m @ 70 g/t gold (from 64m downhole); and 4m @ 25 g/t gold (from 52m downhole).
The company says it has now been successful extending the north west flank at Aurora Tank three fold in just 12 months. Following the conclusion of this latest drill campaign, the NW flank now extends about 285m) in a north- easterly direction and remains open along strike.
Chairman, Dr Colin Rose, said that while Marmota is very fortunate to have intersected very high grades close to surface, this programme is also the first time that Marmota has also intersected high grade gold at depths below 80m.
He noted in particular, reconnaissance Hole 20ATRC303 designed to test for an extension to the west of the NW flank intersected 4m at 7.3 g/t at a depth of 120m downhole. Follow up drilling is necessary.
He said the presence of high gold grades at depth is highly encouraging when combined with the reported results from the mineragraphic testwork in May 2020. This test work on gold grains sampled from a high-grade gold intersection at Aurora Tank found the gold grains to be predominantly primary mineralisation with the colour indicating high purity gold. In combination, this suggests that their host mineralised lodes can be expected to geologically continue to depth below the zone currently drilled.
This has primarily been an extensional programme, testing out new ground. It is also Marmota’s eighth drilling programme (AC or RC) at Aurora Tank. We are very fortunate that every one of those programmes so far has been a success,” Dr Rose said,
“This programme has yielded new high-grade extensions to the North, West and at depth, significantly extended the NW flank, and yielded our current highest 4m intersection.
“I am delighted that Aurora Tank keeps on growing, that underlying fundamentals are strong, and so too the potential rewards to shareholders.
“Aurora Tank is fortunate to combine high-grade intersections that are close to surface, with excellent metallurgy, making Aurora Tank potentially amenable to low-cost low capex open-pittable heap leach methods, which are our clear focus.”