South Australian mining exploration company Marmota Limited (ASX: MEU) has executed a Memorandum of Understanding (MoU) with WPG Resources to investigate cooperating for the development of Marmota’s Aurora Tank gold project and the treatment of Aurora Tank gold ore through WPG’s Challenger plant.
The Aurora Tank project is located approximately 50km NE of WPG’s Challenger plant and under the non-binding MoU, the parties will investigate ways for the processing of Aurora Tank gold ore at Challenger, whether by toll treatment, joint venture, profit sharing or other arrangements.
Marmota chairman, Dr Colin Rose, said the company is looking forward to working with WPG on Aurora Tank.
In September 2016, Marmota carried out its first drilling program at Aurora Tank (Goshawk).
A year later it reported outstanding 1m intersections including 101 g/t gold (with duplicate samples at 85 g/t and 93 g/t, averaging 93 g/t).