FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Marmota bags a swag of golden opportunity at Jumbuck

23 November 2021
ASX: MEU
Rueben Hale
Marmota bags a swag of golden opportunity at Jumbuck

Marmota Limited has uncovered more than 40 gold anomaly targets near the 1.2-million-ounce Challenger gold mine and MEU’s Aurora Tank discovery, part of the world-renowned Gawler Craton project in central South Australia.

The gold-copper-uranium explorer and developer identified the untested gold-in-calcrete targets following a comprehensive search of archival and historical calcrete sampling across the Gawler project area, including the newly acquired tenements and gold interests.

Dominion Mining initially identified anomalous gold-in-calcrete near the surface to indicate gold below the surface in the area. Both Challenger and Aurora Tank were found by testing near surface calcrete for anomalous gold.

Marmota has already yielded multiple outstanding near-surface intersections exceeding 100 grams per ton of gold over one metre at Aurora Tank, including most recently its best result to date of 165 g/t gold over 1-metre, sitting around 57 metres below the surface.

The company said the exceptional sampling dates back mostly to the days of Dominion and Resolute and the discovery of the Challenger gold mine.

“Marmota is sitting on a remarkable bundle of gold anomalies across an area that is already blossoming with gold discoveries,” chairman Colin Rose said.

Stock price
MEU’s Australian Stock Exchange-listed share price has risen 2.33 per cent, trading at 4.4c (8:57 am UTC+ 8 hours)

COMPANY OVERVIEW

Marmota Limited (ASX: MEU) is a South Australian mining exploration company, focused on gold, copper and uranium. Gold exploration is centred on the Company’s dominant tenement holding in the highly prospective and significantly underexplored Gawler Craton, near the Challenger gold mine, in the Woomera Prohibited Defence Area. The Company’s copper project is based at the Melton project on the Yorke Peninsula. The Company’s uranium JORC resource is at Junction Dam adjacent to the Honeymoon mine.

COMPANY INFORMATION

ASX: MEU

Website

https://www.marmota.com.au/
https://www2.asx.com.au/markets/company/meu

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!