- Marmota (MEU) has received its highest-ever one-metre assay of 165 grams per tonne gold from the Aurora Tank Discovery in South Australia
- The company reported the four-metre composite results from drilling at the NW Flank last year and has now received the more detailed assays from the lab
- Following the program, the NW Flank is known to extend 285 metres and remains open along strike and at depth
- Marmota is planning further reverse circulation and diamond drilling for Aurora Tank and is drilling water bores on site
- Shares have been trading 8.5 per cent higher at 5.2 cents
Marmota (MEU) has received its highest-ever one-metre assay of 165 grams per tonne gold from the Aurora Tank Discovery in South Australia.
In November 2020, the company reported the four-metre composite results from drilling at the NW Flank, which was completed in September of the same year. Marmotta has now received the more detailed one-metre assays from the lab.
To ensure the standout result was not due to the ‘nugget effect’, five separate spearings were fire assayed and the grades were averaged, yielding an average of 165g/t gold.
This was the only assay to return gold grades above 100g/t, and the next highest result was 41g/t from 55 metres downhole, followed by 36g/t from 120 metres.
Marmota Chairperson Dr Colin Rose said he was delighted by the standout result which far exceeded the next best intercept ever recorded at the project of 120g/t gold.
“This is particularly pleasing given that this result was obtained in a predominantly extensional program, 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.”
The NW Flank now extends 285 metres and remains open along strike and at depth.
“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,” he added.
Marmota is planning further reverse circulation and diamond drilling for Aurora Tank. The company has also begun drilling water bores on-site to supply diamond drilling, a potential heap leach operation and support the camp.
Shares have been trading 8.5 per cent higher at 5.2 cents at 10:18 am AEDT.