Marmota (ASX:MEU) has received its best ever one metre intersection of 165 g/t gold from detailed assay results from an RC drilling programme completed in September 2020 at its Aurora Tank project in South Australia.
To ensure that the outstanding assay of 165g/t gold was not the result of a ‘nugget effect’, Marmota collected five separate spearings of the drilling sample bag and then assayed each spear sample separately by fire assay. Fire assays of the separate spearings returned grades of 223 g/t, 154 g/t, 119 g/t, 121 g/t and 212 g/trespectively, yielding an average of 165 g/t gold. Notably, every one of the five spearings returned grades over 100 g/t gold, and two of the five spears yielded assays over 200 g/t gold.
Marmota Chairman, Dr Colin Rose, said this is the fourth drilling programme at Aurora Tank in which Marmota has intersected grades of ~ 100 g/t gold (or more) over one metre, and now in four distinct areas.
The new NW flank has reported multiple high-grade assays. The NW flank is a new zone discovered in Marmota’s previous 2019 drilling program while following up elevated gold in biogeochemical sampling (tree sampling)
One year ago, the NW flank was known to extend approximately 95m in a NE direction. At the end of this programme, the NW flanknow extends about three times that distance (285m) in a north-easterly direction and remains open along strike.
The last hole drilled at the top (north) of the NW flank Hole 20ATRC313 yielded 1.0m @ 30 g/t (82m downhole) –– and remains open.
I am delighted that this programme has produced our new highest ever 1m intersection, at an outstanding 165 g/t … rocketing past all our previous best top intercepts of 120 g/t, 105 g/t and 93 g/t. This is particularly pleasing given that this result was obtained in a predominantly extensional programme, testing out new ground along the NW flank. The latter continues to expand and is now three times the size it was some 15 months ago,” Dr Rose said.
“But perhaps even more exciting is that the NW flank remains open, both to the North (the last hole drilled yielded 30g/t over 1m), and to the west and at depth (with reconnaissance hole RC303 returning our first high-grades at depth, namely 36 g/tat 120m downhole).
“We are very fortunate that Aurora Tank combines 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.
“Aurora Tank keeps on growing thanks to the efforts of our exploration team: on behalf of all shareholders, may I extend our thanks to them. Our underlying fundamentals are very attractive, our cash position is extremely strong and so too the potential rewards to our shareholders.”