Marmota Limited's Aurora Tank August 2024 RC drill program results

Marmota Limited (ASX:MEU) has announced the assay results from the Aurora Tank August 2024 RC drill program, revealing multiple new high-grade intercepts over 5 g/t gold, including 8m @ 20.6 g/t gold, 4m @ 36.9 g/t gold, and 4m @ 13.3 g/t gold.

Marmota Chairman, Dr Colin Rose, on Aurora Tank drill program results

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.

Aurora Tank highlights and future prospects

Marmota Limited (ASX:MEU) has identified new high-grade gold extensions to the south of the Aurora Tank deposit, with multiple high-grade intercepts close to the surface. The company's Chairman, Dr Colin Rose, expressed surprise at the program's exceptional results, highlighting the potential profitability of the expanded zone to the south. The metallurgical testwork nearing completion indicates the potential for low-cost open-pit design and resource work, supported by strong gold fundamentals. The outlook for Aurora Tank appears promising, with the potential for continued success in gold exploration.