e7665dd3-bce0-4c1f-ac9a-e14af2a9182e.pdf
ASX ANNOUNCEMENT 26 October 2015
NEW, LARGE GOLD ANOMALY in Gawler Craton EXCEPTIONAL GOLD ANOMALIES at Westpoint Hill
Marmota Energy Limited (ASX: MEU) ('Marmota')
Background
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In July 2015, Marmota commenced an aggressive gold exploration program across its prime tenement holdings around the Challenger gold mine (1 million ounces). The program is ongoing and expanding.
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Marmota has adopted the same calcrete sampling methodology that was used to find Challenger.
New Key Points
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Marmota has identified a NEW, LARGE GOLD anomaly in the Gawler Craton, approximately 25km WEST of the Challenger gold mine, near Westpoint Hill.
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Calcrete sampling near Westpoint Hill has returned exceptional gold-‐in-‐calcrete anomalous assay results of 70ppb to 107ppb.
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For comparison, a gold-‐in-‐calcrete result of 100ppb is:
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Analogous to how Challenger was discovered [ see Figure 5 ]
Westpoint Hill target
Marmota recently commenced calcrete sampling at the Westpoint Hill target area to test co-‐incident magnetic and gravity anomalies [ see Figures 3 and 4 ]. Calcrete sampling was conducted on a 800m x 800m grid, and produced a zone in which samples returned exceptional, contiguous gold-‐in-‐calcrete values of 70ppb Au to 107ppb Au within a broader >10ppb gold anomaly [ see Figure 1 ].
Figure 1: Westpoint Hill target: Gold-‐in-‐calcrete anomalism (contoured at 10ppb, 20ppb and 50ppb gold)
The calcrete sampling results at Westpoint Hill are NOT the result of in-‐fill sampling around a known anomaly. Quite the opposite, Marmota initiated auger drilling of calcrete on almost virgin territory. The target area appears to have had almost no exploration work done on it, other than wide-‐spaced 1.6km grid sampling by a previous tenement holder [see Figure 6 in the Appendix].
Location of the Westpoint Hill target
The Westpoint Hill target is located about 25 km west of the Challenger Gold Mine, in Marmota's 100% owned Lake Anthony tenement (EL 5060), in the Woomera Prohibited Defence Area, in the highly prospective and significantly underexplored Gawler Craton [see Figure 2].
Figure 2: Marmota's Gawler Craton Gold Project
Westpoint Hill is located about 25km west of Challenger
Co-‐incident Gravity and Magnetic anomalies
The Westpoint Hill target area is the subject of a co-‐incident gravity anomaly [ Figure 3 ] + magnetic anomaly [ Figure 4 ]: this is relatively rare for this region, and Marmota was keen to test it. The new gold anomalism is coincident with the southern peak of the magnetic anomaly, and with the margins of the gravity high. As there is no known outcropping basement within this area, these geophysical anomalies have unknown geology at this time.
Figure 3: Gravity anomaly in target area
Figure 4: Co-‐incident magnetic anomaly in same target area