Marmota Limited (ASX:MEU) Hits Thick High Grade Gold at Shallow Depth

26 November 2024

Price Sensitive Announcement $

Highlights:

New high-grade 1m intercepts over 14 g/t gold include: [ see Table 1 for more detail ]

1m @ 50 g/t gold (from 32m downhole) in Hole 24ATRC075 ( 7m @ 14 g/t gold )
1m @ 34 g/t gold (from 43m downhole) in Hole 24ATRC030 ( 3m @ 12 g/t gold )
1m @ 29 g/t gold (from 22m downhole) in Hole 24ATRC014 ( 8m @ 10 g/t gold )
1m @ 28 g/t gold (from 41m downhole) in Hole 24ATRC044 ( 2m @ 16 g/t gold )
1m @ 23 g/t gold (from 36m downhole) in Hole 24ATRC075 ( 7m @ 14 g/t gold )
1m @ 18 g/t gold (from 16m downhole) in Hole 24ATRC014 ( 8m @ 10 g/t gold )
1m @ 18 g/t gold (from 18m downhole) in Hole 24ATRC014 ( 8m @ 10 g/t gold )
1m @ 18 g/t gold (from 15m downhole) in Hole 24ATRC020 (10m @ 4.4g/t gold )
1m @ 18 g/t gold (from 141m downhole) in Hole 24ATRC025 ( 3m @ 7 g/t gold )
1m @ 16 g/t gold (from 39m downhole) in Hole 24ATRC033 ( 5m @ 4.9 g/t gold )
1m @ 16 g/t gold (from 96m downhole) in Hole 24ATRC059 ( 2m @ 13 g/t gold )
1m @ 16 g/t gold (from 38m downhole) in Hole 24ATRC083 ( 2m @ 10 g/t gold )
1m @ 15 g/t gold (from 29m downhole) in Hole 24ATRC040 ( 8m @ 4.0 g/t gold )
1m @ 14 g/t gold (from 56m downhole) in Hole 24ATRC090 ( 4m @ 8.8 g/t gold )

Overview:

Marmota has announced that it has received the detailed 1m assay results from the Aurora Tank 2024 RC drill program. Initial 4m composite results were reported to the ASX on 9 Oct 2024. The detailed high-quality 1m fire assays have revealed thick rich intervals of gold, very close to surface.

Company Notes:

Marmota Chairman, Dr Colin Rose, said:
“Everything is 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 test work 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.”

Full Company Announcement: 2A1564193.pdf