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ASX ANNOUNCEMENT 6 October 2015
NEW GROUND ACQUIRED near Challenger
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.
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Marmota has adopted the same calcrete sampling methodology that was used to find Challenger itself.
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Since July, Marmota's in-‐house geoscientists have been stationed in the Gawler Craton, auger drilling calcrete samples.
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One of the target areas for that calcrete sampling is the Widgety prospect [ASX release: 6 July 2015], located about 50km South East of the Challenger gold mine [ Fig. 1 below ]
ACQUISITION OF NEW TENEMENTS
Marmota is pleased to advise that it has expanded its tenement holding around the Widgety prospect referred to above. The Company has submitted a new exploration licence application (ELA 2015/00175) for areas immediately adjacent to, or close to, the Company's Widgety prospect (Figure 1). The Company believes the tenements have excellent potential for significant gold anomalism.
Figure 1: Marmota's Gawler Craton Gold Project, showing the location of the new tenements
Figure 2: Updated Marmota Tenements around Challenger, and Neighbours
Update to follow
The Company is processing and analysing the Company's on-‐going calcrete sampling gold assays. An update regarding the current program at Widgety is in preparation, and is expected to be released shortly.
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