Marmota’s Aurora Tank 58% increase in mineralised core 

Marmota (ASX:MEU) has delivered a 58% increase in mineralised gold core following the re-drilling of 10 diamond holes at its Aurora Tank discovery, as part of its Gawler Craton Project in Western Australia. 

The $46.58 million market capitalisation company says the recent drilling has been completed by a new drilling company and has returned ‘substantially’ wider intersections. 

Key intersections include 15m @ 4.1 grams per tonne (g/t) Au from 30m including 1m @ 19g/t Au from 35m and 3m @ 11g/t Au from 42m. 

The company reports the drillholes (21ATDD01 to 21ATDD10) were completed by GD Geodrill Australia in 2021 as part of a diamond drilling program at Aurora Tank, however, the work carried out did not meet contractual quality or quantity requirements.

Marmota Chairman Colin Rose says the metallurgical testwork at the project represents an ‘essential’ component to transition Aurora Tank into production through open-pitable, low-cost, low capex heap leach methods.

“A full suite of tests are being carried out to optimise heap leach recoveries of gold. It is great to see momentum return to Aurora Tank again.”

Marmota is a gold, uranium, and copper explorer focused on its suite of projects in South Australia. 

As of 30 September 2023, Marmota had $3.428 million cash and cash equivalents at hand, according to its latest quarterly report.

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Images: Marmota 
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.