- Marmota (MEU) expands its drilling program at the Aurora Tank gold project in South Australia
- The reverse circulation program is being expanded from 10,000 metres to 12,000 metres and adding a further 15 holes to bring the total to 100
- The company is expecting the program to take 20 days to complete
- According to Marmota, the program has already progressed well with 7750 metres completed so far
- MEU shares are up 5.97 per cent to trade at 7.1 cents at 11:01 am AEST
South Australian mining company Marmota (MEU) will expand its drilling program at the Aurora Tank gold project.
The reverse circulation program is being expanded from 10,000 metres to 12,000 metres and adding a further 15 holes to bring the total to 100.
Marmota is expecting to complete the drilling in around 20 days, which will be mid-June.
According to the company, the program has already progressed well with 7750 metres completed so far.
The program is further testing the NW Flank, which has recently tripled in strike and is yielding “outstanding intersections” such as three metres at 72 grams per tonne (g/t) of gold from 66 metres, including one metre at 197g/t gold.
Additionally, the program also includes a number of holes that form part of the Accelerated Discovery Initiative (ADI) which is jointly funded by the South Australian Government under a grant awarded to Marmota.
“We are hoping this will be our final drill program at Aurora Tank prior to our lodging a mining lease application at Aurora Tank,” Chairman Colin Rose said.
“The program develops a number of parallel extensions that are still open, and should enable us to complete work on an optimal open pit design.”
On the market, MEU shares were up 5.97 per cent to trade at 7.1 cents at 11:01 am AEST.