9c2cdeeb-8180-483c-b384-add0795bddbf.pdf
ASX ANNOUNCEMENT 21 December 2015
Gold Exploration Update
Marmota Energy Limited (ASX: MEU) ("Marmota")
Westpoint Hill (25km west of Challenger)
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In October 2015, Marmota's calcrete sampling (on 800m grid) at Westpoint Hill identified exceptional gold-in-calcrete anomalous assay results of 70ppb to 107ppb: better than 99.9% of all calcrete sampling results in the South Australian Government database [ see ASX:MEU 26 October 2015 ]
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On 24 November 2015, Marmota commenced high detail comprehensive infill calcrete sampling via auger drilling at Westpoint Hill [ see ASX:MEU 24 Nov 2015 ]
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This substantial program has completed on schedule.
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1,530 calcrete samples (out of 1,580 targets) successfully acquired.
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Samples have just been transported to the laboratory for assays.
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Assay work to commence in January 2016, with lab results from the Westpoint Hill sampling program expected during January 2016.
Figure 1: • Previous (800m grid) sampling carried out in October 2015 (red dots) and
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NEW high detail infill calcrete sampling points: 1580 targets (black dots)
Widgety ( 50km SE of Challenger )
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On 26 November 2015, Marmota commenced an RC drilling program at the Widgety prospect [ see ASX:MEU 26 Nov 2015 ]
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The RC drilling program at the Widgety prospect has been completed on schedule with 1,652 metres drilled.
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Samples have been transported to the laboratory for assays.
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Lab assays for the Widgety drilling are also expected in January 2016.
Figure 2: Marmota gold-in-calcrete sampling Figure 3: Higher-resolution magnetic survey highlighted
additional targets, to both the North and South
Dr Colin Rose, Marmota's Chairman, said:
" 2015 has been an important year of transition for Marmota. We are very much looking forwards to the results in January, to the potential of Westpoint Hill, and to the beginning of a new year for Marmota and our shareholders. "
Figure 4: Marmota's Gawler Craton Gold Project, showing the location of Westpoint Hill and Widgety
For further information, please contact:
Marmota Energy Limited
David Williams Managing Director Email: [email protected]
Level 30, Westpac House 91 King William Street Adelaide SA 5000
ABN: 38 119 270 816 T: (61 8) 7088 4883 F: (61 8) 7088 4884
www.marmotaenergy.com.au
About Marmota Energy Limited
Marmota Energy Limited (ASX: MEU) is a South Australian mining exploration company, focused on gold, copper and uranium. Gold exploration is centred on the Company's dominant tenement holding in the highly prospective and significantly underexplored Gawler Craton, near the Challenger gold mine, in the Woomera Prohibited Defence Area. The Company's cornerstone copper project is based at the Melton project on the Yorke Peninsula. The Company's largest uranium project is at Junction Dam adjacent to the Honeymoon mine.
For more information, please visit: www.marmotaenergy.com.au