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Goldman Multiple High-Grade Intercepts Found Near Surface
Marmota Limited (ASX:MEU) has announced new assay results from its August 2024 RC drill program at the Aurora Tank project, highlighting several high-grade gold intercepts near the surface. The drilling has identified new gold extensions to the south.
Significant results include:
- 8m @ 20.6 g/t gold from 32m downhole, including 4m @ 36.9 g/t gold.
- 4m @ 13.3 g/t gold from 40m downhole.
- 8m @ 8.9 g/t gold from 16m downhole.
Additional notable results include 4m @ 8.2 g/t gold from 68m, 4m @ 5.3 g/t gold from 64m, and 4m @ 5.0 g/t gold from 140m.
Dr Colin Rose, Chairman of Marmota, commented
Aurora Tank yields more outstanding intersections. Even so, this has been a surprising program: it was designed to mostly close off a number of sections, and has vastly exceeded our expectations by yielding fabulous high-grade intersections, much closer to surface than we had imagined, in the south.
In particular, the new expansion of Aurora Tank to the south, combined with multiple high-grade intercepts so close to surface, with so little cover to remove, means that the new expanded zone to the south may potentially be the most profitable of the whole deposit.
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-pittable heap leach methods. The metallurgical testwork is nearing completion – and as soon as that is done, we progress to open-pit design, resource work and PFS … all underpinned by surging gold fundamentals.
