Marmota Energy (ASX: MEU) has recovered massive coarse crystalline hematite from outcrop samples at its wholly-owned Lake Anthony iron project in South Australia.
This adds to earlier high grade assays grading above 58% iron with low levels of impurities from surface outcrop samples.
Several other iron-focused explorers control tenure in the vicinity including Fortescue Metals Group (ASX:FMG), Iron Road (ASX:IRD) and Apollo Minerals (ASX:AON).
The samples were collected as art of a field reconnaissance program to identify and map basement geology on Marmota’s Lake Anthony and Mt Christie tenements.
Lake Anthony is part of Marmota’s cluster of central Gawler Craton tenements, located within easy access to both the Adelaide to Darwin and Trans Australia rail corridors.
Ground based gravity surveys to replace the existing historic 4 mile spaced data coverage and ground magnetic surveys are being conducted to map any subsurface extension of the outcropping iron formations.
These will form part of a coordinated program planned for Marmota's projects in the region over the coming weeks.
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