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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.
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