Marmota starts gold drilling to finalise Aurora Tank open pit design

• Marmota starts drilling at its advanced Aurora Tank gold deposit in South Australia
• Previous drilling has already returned multiple +100g/t intersections close to surface
• Planned 58-hole program aims to finalise design of proposed open pit

Special Report: Marmota has launched a much-anticipated reverse circulation drilling program at its advanced Aurora Tank gold deposit in South Australia that already features a slew of outstanding high-grade intersections.

With previous drilling having delivered multiple bonanza grade gold hits of over 100g/t close to surface, including an outstanding 217g/t strike, the 58-hole drill program totalling 5200m is intended to finalise the design of the proposed open pit at the deposit.

Marmota’s (ASX:MEU) drilling will attempt to close off a number of sections that remain open to the south, west, east, north and also at depth, focusing on significant mineralisation suited to open pit mining methods.

Additionally, some holes will target locations where previous drilling was too shallow.

Infill drilling is also planned to assist with resource estimation.

It comes as gold prices have more than doubled to ~US$2400/oz (~$3650oz) since the company first started work at the deposit just a few years ago – a promising development given it was always conceived as a low-cost, low capex operation.

The company adds that the metallurgical test work program to optimise gold production from a low-cost, open-pittable heap leach production pathway is now more than 75% completed.

“Aurora Tank is advancing beautifully: we have outstanding bonanza intersections, close to surface, open-pittable, with a low-cost low capex heap leach pathway, and the critical metallurgy recovery program already more than 75% complete, and now a RC program underway to hopefully bring it all together and close off loose ends,” chairman Dr Colin Rose said.

Proposed drill holes at Aurora Tank. Pic: Marmota

More where that came from

Aurora Tank is part of the company’s Gawler Craton project, which is home to several other gold prospects and deposits.

This includes the new Goolagong target just 20km north-west of the Challenger gold mine and 35km from MEU’s 90%-owned Greenewood and Mainwood gold deposits.

It was the subject of a recently completed RC drill program, with assays pending.

MEU already has 300,000oz of open-pittable gold resources across Greenewood, Mainwood and the larger Campfire Bore and Golf Bore deposits, before Aurora Tank is even added to the pile.

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.