Marmota Energy (ASX:MEU) has released high grade tungsten assays grading up to 1.94% from two more widely spaced drill holes at the Moonbi target in South Australia.
Significant new results included an intersection of 2 metres at 1.27% tungsten from 142 metres including 1 metre at 1.94%
Drilling was designed to investigate geophysical anomalies identified at the Moonbi prospect, located within Marmota’s Indooroopilly gold and base metals tenement in the highly prospective Gawler Craton.
In July six widely spaced drill holes intercepted tungsten mineralisati, five of which the drill holes lie along a large geophysical target extending for 1.6 kilometres.
The latest results included minor tin and rare earth vectoring elements, and the zone of tungsten mineralisation intercepted in Phase 1 drilling appears to be shallowing to the east.
Granites and fractionated melts are logged throughout the drill holes at Moonbi, potentially the source of the tungsten mineralisation. It is not uncommon for large-scale tungsten deposits to be associated with granites for example, the intra-granitic wolframite vein deposits in China.
Against a backdrop of current Australian tungsten deposits, which average under 1%, the high grades at Moonbi are impressive, albeit relatively narrow.
Current contract prices for tungsten remain strong (ranging from US$40 to US$48 per kilogram over the last six months and is currently at $47.50), with the limited number of tungsten mines worldwide providing a favorable environment for new discoveries.
Tungsten’s unique properties of very high strength, melting point, conductivity and chemical stability provide strong demand for the production of mobile phones, touch screens, and aerospace and military components.
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