Marmota Limited (ASX: $MEU) Announcement

Marmota Limited (ASX: $MEU) has announced its entry into the new Golden Moon Joint Venture with Coombedown Resources Pty Ltd, aiming to substantially grow the size of the gold resources within the JV tenements and develop them to production. Under the terms of the Golden Moon JV, Marmota (via Half Moon) owns 90% of the tenements and minerals, including gold, while Coombedown is free-carried by Half Moon until a decision to mine is made. The key gold deposits within the Golden Moon JV, each with existing gold JORC resources, are Golf Bore, Campfire Bore, Greenewood, and Mainwood. Marmota has already lodged a PEPR with the Department of Energy and Mining to commence drilling on the Golden Moon JV and intends to start the re-start drilling program as soon as the PEPR is approved.

Marmota Chairman, Dr Colin Rose, on Golden Moon JV

Marmota Chairman, Dr Colin Rose, expressed enthusiasm about the new Golden Moon JV, highlighting the enormous potential for growth in the gold resources within the JV tenements. He emphasized the proximity of the Golden Moon JV gold deposits to Marmota's flagship Aurora Tank gold discovery, creating obvious economies of scope and scale. Dr. Rose also mentioned the company's other core assets, including the Western Gawler Craton JV and the Junction Dam re-start program for uranium. He expressed delight in working with a professional and experienced JV partner and the excellent working relationship with them, anticipating the beginning of a new era of gold exploration and resource growth in the Gawler Craton.

Summary of Marmota Limited's Announcement

Marmota Limited (ASX: $MEU) has entered into the new Golden Moon Joint Venture with Coombedown Resources Pty Ltd to substantially grow the size of the gold resources within the JV tenements and develop them to production. The Golden Moon JV pertains to tenements EL 5998 and EL 6569, with Marmota owning 90% of the tenements and minerals, including gold. The key gold deposits within the Golden Moon JV have enormous potential for growth and are located close to Marmota's flagship Aurora Tank gold discovery, creating obvious economies of scope and scale. The company has already lodged a PEPR to commence drilling on the Golden Moon JV and intends to start the re-start drilling program as soon as the PEPR is approved. The Chairman, Dr. Colin Rose, expressed excitement about the new JV, highlighting its complementarity with the company's other core assets and the beginning of a new era of gold exploration and resource growth in the Gawler Craton.