Marmota Limited (ASX:MEU) Announces Significant Exploration Discoveries
Exploration Achievements
Marmota Limited has completed exploration at Aurora Tank and is shifting its focus to expanding its uranium resources and a new titanium discovery. The company reported outstanding high-grade gold intersections close to the surface, enhancing the potential for low-cost open-pit heap leach methods. Additionally, Marmota discovered exceptional thick rich titanium mineralisation at Muckanippie, positioning Marmota as a multi-commodity player.
Uranium Project Restart
Marmota is preparing to restart the Junction Dam uranium program to significantly grow its uranium resources. The company has engaged uranium expert Mark Couzens to conduct a stratigraphic and mineralisation review and design the initial drill program, which is nearing completion.
Future Exploration Plans
The company plans extensive drilling at the Golden Moon JV and other uranium deposits, with 164 drill holes currently planned. Marmota is also focusing on metallurgical optimisation and environmental studies to advance the Aurora Tank project towards production, including resource work, open-pit design, and pre-feasibility studies.
Executive Comments
Dr Colin Rose, Chairman of Marmota, stated, “Everything’s coming together for Aurora Tank: high-grade intersections, predominantly close to surface, with excellent metallurgy, making Aurora Tank amenable to low-cost low capex open-pit heap leach methods. The metallurgical testwork is about to complete – and as soon as that is done, we progress to resource work, open-pit design and PFS … all underpinned by surging gold fundamentals.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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