Marmota Ltd, an Australian mining company, has reported outstanding results from its Aurora Tank project in South Australia, with high-grade gold intersections reaching up to an extraordinary 50 grams per tonne (g/t). The impressive findings come as part of a larger 90-hole drilling program, which has significantly expanded the company’s understanding of the deposit and its potential for future development.
Stellar Gold Hits at Aurora Tank
Marmota’s recent drilling campaign at its Aurora Tank project has delivered some of the highest-grade gold intersections in the region to date. The company, which initially received composite assays from four-meter intervals in October, has now broken down the results into more detailed one-meter intervals, revealing even more exceptional grades.
Among the standout results, Marmota recorded a remarkable 50 g/t gold from a one-meter sample. This result is part of a broader seven-meter intersection that averaged 14 g/t gold. Other significant hits include 34 g/t from 43 meters, 29 g/t from 22 meters, 28 g/t from 41 meters, and a notable 23 g/t from 36 meters.
These high-grade intersections demonstrate the potential of Aurora Tank, with the 50 g/t hit and other high-grade results supporting the project’s continued exploration and development. The company’s strategy has been focused on expanding the deposit’s resource base, and the latest results are expected to have a major impact on future resource estimates.
Expanding the Deposit and Potential for Open-Pit Mining
The recent drilling results have significantly expanded the Aurora Tank deposit southwards. What initially started as an infill drilling program to close gaps in existing sections has now turned into a discovery of some of the highest-grade gold intersections ever encountered at the project. As a result, Marmota plans to reassess the project’s potential and could expand the open-pit design, thanks to the proximity of these high-grade hits to the surface.
The high-grade gold encountered at such shallow depths could potentially lead to a near-surface, low-cost, open-pit mining operation. This would align with Marmota’s goal of developing an open-pit gold mining scenario that minimizes capital expenditures while maximizing gold recoveries. The company is moving forward with its development plans, including optimizing metallurgical processes to ensure the highest possible recovery rates.
Promising Metallurgical Results
Along with the high-grade gold hits, Marmota has also reported favorable metallurgy at Aurora Tank. The company is currently conducting studies to optimize gold recoveries from the deposit, with results expected in the near future. These promising metallurgical findings are crucial for the project’s economic viability and could help further de-risk the operation as the company moves toward a potential development stage.
Dr. Colin Rose, Chairman of Marmota, expressed confidence in the project’s future, stating, “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 testwork is about to complete – and as soon as that is done, we progress to resource work, open-pit design, and PFS (Pre-Feasibility Study) … all underpinned by surging gold fundamentals.”
Expanding Exploration Efforts at Campfire Bore
In addition to the promising developments at Aurora Tank, Marmota is also ramping up exploration at its Campfire Bore gold discovery, located 30 kilometers to the east of Aurora Tank. This represents the company’s first-ever drilling campaign at Campfire Bore, and the exploration efforts are already showing great promise.
The drilling campaign at Campfire Bore has now been expanded to more than 20,000 meters, with the first phase of reverse circulation (RC) drilling results expected to be released next month. Management has expressed high expectations for the Campfire Bore project, noting its “enormous potential to grow.” With just 10,000 meters of drilling completed to date, the deposit has already yielded an estimated 109,000 ounces of gold, all from near-surface drilling. Marmota believes the deposit could rival Aurora Tank’s high-grade results in the near future.
Significant Potential for Future Growth
The remarkable success at both Aurora Tank and Campfire Bore highlights the potential of Marmota’s South Australian gold projects. With significant high-grade gold discoveries close to the surface, the company is in an advantageous position to capitalize on its discoveries. Marmota’s ongoing drilling campaigns are expected to further enhance its understanding of the deposits, and the company is optimistic about the future growth potential of both projects.
Given the shallow nature of the gold deposits and the impressive grades encountered, Marmota is confident that its South Australian gold assets will provide valuable opportunities for future development. The company’s ability to quickly move toward a low-cost, open-pit gold mining operation, combined with its expanding drilling efforts at Campfire Bore, suggests that Marmota will continue to make significant strides in the gold exploration sector.
A Bright Future for Marmota Ltd
With high-grade gold hits at Aurora Tank and Campfire Bore, Marmota Ltd is positioning itself as a key player in the South Australian gold exploration sector. The company’s aggressive exploration and development strategy, coupled with favorable metallurgical results, could result in a highly profitable mining operation in the near future.
As Marmota continues to advance its projects and expand its resource base, investors and stakeholders will be watching closely. With gold prices surging and Marmota’s projects showing significant promise, the company is well-placed to capitalize on its discoveries and deliver value to shareholders.
In conclusion, Marmota’s recent success at Aurora Tank and its continued efforts at Campfire Bore illustrate the significant potential of its South Australian gold assets. The company’s strategy of pursuing near-surface, low-cost mining operations is supported by its high-grade discoveries and favorable metallurgical results, making Marmota Ltd a company to watch in the world of gold exploration and development.
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