- Marmota (MEU) is set to launch its first rare earth program, starting with the Muckanippie tenement in South Australia
- The company recently carried out an extensive review of rare earth element (REE) anomalies over its Western Gawler Craton tenements, which highlighted four distinct zones it considers prospective for rare earths
- The first of these will be the Muckanippie tenement, where a 120-hole program is due to begin shortly
- With the addition of the new program, Marmota will have two drill teams and two drill rigs running simultaneously, a reverse circulation rig spinning at Aurora Tank and Comet, and another at Muckanippie and Bradman
- Marmota shares are up 2.17 per cent to trade at 4.7 cents at 10:56 am AEDT
Marmota (MEU) is set to launch its first rare earth program, starting with the Muckanippie tenement in South Australia.
The company recently carried out an extensive review of rare earth element (REE) anomalies over its Western Gawler Craton tenements, which included analysis of historical drilling and chip trays.
Marmota told investors it found the combination of rare earth, mineral-bearing Archaean basement and overlying tertiary regolith cover provided large areas which are “geologically highly prospective” for regolithic clay-hosted ionic REE deposits within the tenement holding.
The company highlighted four distinct zones it considers prospective for rare earths, with all four lined up to be tested.
The first of these is the Muckanippie tenement, which is now being lined up for driling. The program will include 120 holes for 4700 metres, with the rig and crew now on route to site.
With the addition of the new program, Marmota will have a total of two drill teams and two drill rigs running simultaneously. This includes a reverse circulation rig spinning at Aurora Tank and Comet, and another at Muckanippie and Bradman.
Drilling is expected to continue at both sites until the Christmas break.
Marmota shares were up 2.17 per cent to trade at 4.7 cents at 10:56 am AEDT.