ASX ANNOUNCEMENT 19 December 2016
Aurora Tank Gold Drilling Update
Marmota Limited (ASX: MEU) ("Marmota")
Marmota is pleased to advise that 31 RC holes at Aurora Tank have now been completed.
KEY POINTS
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Phase 2 drilling at Aurora Tank commenced on 30 November 2016 [see ASX:MEU 1 Dec 2016]
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Drilling has stopped for the on-set of the holiday period.
Program
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31 of 53 angled RC (reverse circulation) drill holes have now been completed
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Target depths: 90 m (approximate)
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Total drilling to date: 2,604m (approximately 150m per day)
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Phase 2 program is shown in Figure 1. Completed holes to date is shown in Figure 2.
New assays coming
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Assay results from drilling samples are anticipated at around the end of January.
Figure 1: Phase 2 RC drill grid (with previous drilling locations / results)
Page 3 Figure 2: Phase 2 RC drill holes now completed
Background
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Aurora Tank (EL 5589) is situated about 50km NE of the Challenger Gold Mine [ see Fig. 3 ]
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Aurora Tank is 100% owned by Marmota [see ASX:MEU 4 July 2016]
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Gold was identified at the Goshawk prospect by drilling historical calcrete sampling anomalies.
Phase 1
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In September 2016, Marmota conducted an aircore drilling program to test the Goshawk Gold
Prospect at Aurora Tank with the intention of fully defining gold geochemical dispersion in the near-surface zone to 40 metres vertical depth [see ASX:MEU 5 Sept 2016]
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During Phase 1: 98 angled aircore holes totaling 4,385m were drilled
Phase 1 Results
Phase 1 (September drilling) has already yielded excellent results [ see ASX:MEU 25 Oct 2016 and 29 Nov 2016 ] with 31 intersections greater than 1 g/t gold, all close to surface, including:
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11.3 g/t
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gold
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from 22m
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- Hole 16AT019
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( incl
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1m @ 23 g/t
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gold from 22m)
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9.0 g/t
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gold
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from 25m
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- Hole 16AT043
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( incl
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1m @ 34 g/t
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gold from 27m)
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3.7 g/t
|
gold
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from 24m
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- Hole 16AT044
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( and
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1m @ 11 g/t
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gold from 20m)
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6.2 g/t
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gold
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from 35m
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- Hole 16AT061
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( incl
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1m @ 23 g/t
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gold from 35m)
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3.9 g/t
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gold
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from 20m
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- Hole 16AT062
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3.3 g/t
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gold
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from 36m
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- Hole 16AT028
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Phase 2 RC drilling program commenced on 30 Nov 2016.
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