Marmota is embarking on what is possibly its last drill program at its Aurora Tank gold discovery in South Australia’s Gawler Craton prior to applying for a mining lease.

Here’s why the program is one to keep a close eye on. Recent Bulk Leach Extractable Gold (BLEG) analysis returned an eye-watering average result of 197 grams per tonne (g/t) gold over a 1m interval from a depth of 66m.

Not only did this put the previous assay result of 1m at 165g/t gold to shame, it is also considerably more accurate as BLEG uses larger samples to negate the “nugget effect” that can skew results in either direction.

So it should come as no surprise that Marmota (ASX:MEU) is poised to launch an 85-hole reverse circulation drill program totalling about 10,000m around 1 April to test potential extensions to Aurora Tank mineralisation as well as aid resource modelling and optimal pit design.

“We are hoping this will be our final drill program at Aurora Tank prior to our lodging a Mining Lease application at Aurora Tank,” executive chairman Colin Rose said.

“The program develops a number of parallel extensions that are still open, and should enable us to complete work on an optimal open pit design.”

 

Multiple objectives

The upcoming drill program has five key objectives, the first of which is to test further extensions of the new Northwest flank where previous drilling – including the top hit highlighted by the BLEG assay – had tripled its strike length to 285m.

Drilling will also test sub-parallel extensions of the NW Flank to the north and northeast, extensions at depth targeting primary mineralisation, and extensions to the east of the Aurora Tank mineralised zone.

Additionally, selected holes will be drilled to aid resource modelling and optimal pit design, or where previous holes were not deep enough.

Marmota will also drill a number of holes – including early stage reconnaissance –

at Aurora Tank and its surrounding tenements under the Accelerated Discovery Initiative that is jointly funded by the South Australian state government.

This article was developed in collaboration with Marmota, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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