Marmota Limited (ASX:MEU) completes successful drilling program

Marmota Limited (ASX:MEU) has successfully completed the July/August 2024 drilling program at its flagship gold discovery, Aurora Tank. The RC drill program consisted of 90 holes, totaling 7,692m in drilling, with an average hole depth of approximately 85m. All samples have been collected and are set to be delivered to Adelaide for laboratory testing. The assay results for Aurora Tank are expected in early October.

Executive Commentary on Aurora Tank Gold RC Program

The completion of the drilling program at Aurora Tank marks a significant milestone for Marmota Limited. The outstanding gold intersections and the increased drilling activity demonstrate the potential of the Aurora Tank gold discovery. We are particularly pleased with the progress of the Aurora Tank metallurgical testwork program, which is now more than 85% complete and aims to optimize gold recoveries from a low-cost open-pittable heap leach production pathway. The current record high gold price further enhances the economic prospects of the project, aligning with our vision of a low-cost, low capex model. We look forward to the assay results in early October and remain optimistic about the future of the Aurora Tank project.

Summary of Marmota's Aurora Tank gold drilling completion

Marmota Limited (ASX:MEU) has successfully completed the drilling program at its flagship gold discovery, Aurora Tank, with outstanding gold intersections and increased drilling activity. The company is progressing well with the metallurgical testwork program, aiming to optimize gold recoveries from a low-cost open-pittable heap leach production pathway. The record high gold price further enhances the economic prospects of the project. Marmota is seeking to finalize the design of an open-pit at Aurora Tank and is optimistic about the future of the project, with the assay results expected in early October.