Titanium concept ai gen
Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Marmota Resources (ASX:MEU) has reported striking “exceptional thick rich titanium” from surface at its Muckanippie tenement.

The company reported four drill-hits from its latest run where titanium mineralisation was intersected from 0m – in other words, the surface. From surface discoveries, if deposits are substantial enough, ultimately imply cheaper extractive operations.

The company reported:

  • 28 m @ 10% titanium (including a 4m pocket at 13%);
  • 36m @ 6% titanium (including another 4m pocket at 11%);
  • 40m @ 4.6% titanium, and,
  • 24m @ 7.5% titanium (again hitting a 4m pocket at 10%).

The company highlighted on Wednesday its relative proximity to Petratherm (ASX:PTR), a company which found titanium in September on the back of drilling some 11km away.

Its results, Marmota highlighted, weren’t as good as what the latter reported today. Nearology does not indicate a guarantee of mineralisation and is, perhaps, over-relied on sometimes.

At any rate, that the company hit titanium concentrations technically just over 10% has left it calling its discovery “exceptional.” Its results on Wednesday are four of a 106-hole RAB drilling campaign.

MEU last traded at 3.8cps.

Join the discussion: See what HotCopper users are saying about Marmota Resources and be part of the conversations that move the markets.

MEU by the numbers
More From The Market Online
Market Close Graphic

ASX Market Close: Local bourse manages last gasp of green cheer heading into Chrissy shutdown | Dec 24, 2024

The ASX 200 ended on a positive closing note before Santa’s arrival (a fair bit) later this evening with a 0.29% gain, adding...
The Market Online Video

Expert Exchange: How to approach Christmas spending amid the cost-of-living crisis

As Christmas comes closer, it may be a good idea to revise some of our thinking…
The Market Online Video

Expert Exchange: Gold charts will remember 2024 in history. Analysts see $3K/oz in 2025

If you had any large amount of money invested in bearish bets on just about anything…
The Patterson South Lake project in Canada that Paladin Energy has just acquired.

Paladin Energy puts Christmas bow on $1.5B all-scrip Fission Uranium merger

Paladin Energy (ASX:PDN) has completed the acquisition of Fission Uranium Corp six months after