Marmota Ltd is rapidly moving toward production following successful drilling at the highly prospective Aurora Tank gold project in South Australia.
The mining explorer focused on gold, copper and uranium completed the program following GMP Drilling arriving with a new rig at short notice in September, achieving more than twice the daily drill metres of the previous rig while running at 100 per cent recoveries.
The diamond drill program is designed to provide the necessary detail to advance Aurora Tank to production, including geotechnical design of optimal pit walls and bulk density measurements required for completing a resource estimation and scoping/feasibility studies.
The company has just completed 16 diamond holes, drilling 1247 metres (total core 909m) to a maximum depth of 217m.
“A preliminary inspection of the diamond drilling core has revealed sightings of visible gold which is plainly promising, and a new first for Aurora Tank,” chairman Dr Colin Rose said.
“As the primary purpose of this program is production-related, it is important to note that there are a number of critical steps that have to be completed before the core is cut and sent for assay.
“These steps include detailed structural and lithological logging of the core, along with multiple geotechnical analyses (point load testing, strength tests, shear tests, triaxial tests, Atterberg limit tests).
“This information is essential for progressing Aurora Tank through resource estimation, design of pit wall optimisation, and completing final metallurgical testing and feasibility studies.”
MEU’s Australian Stock Exchange-listed shares were trading at 4.4c today (10:13 am GMT+ 8 hours).