Marmota Energy Ltd (ASX:MEU) has started a 4900 metres drilling program at the Aurora Tank Gold Project, 50 kilometres northeast of the Challenger Gold Mine in South Australia.
Kingsgate Consolidated Ltd’s (ASX:KCN) Challenger mine has produced over one million ounces of gold (i.e. over $1.7 billion at current prices).
Marmota is searching for Challenger-style gold systems in its tenements covering about 5,300 square kilometres of highly prospective area in the Gawler Craton.
The new drilling will test the Goshawk Prospect at Aurora Tank with the intention of fully defining a geochemical dispersion from gold mineralisation.
Drilled intersections from the project area in 2014 and 2105 included 4 metres at 5 g/t gold from 16 metres and 16 metres at 1 g/t gold from 20 metres.
Marmota’s exploration team is headed up by Dr Kevin Wills, the geologist who designed the calcrete sampling program that discovered the Challenger Gold Mine.
The new drilling is expected to last 3 weeks and will include 98 angled aircore drill holes at a depth of 50 metres each.
In July, Marmota finalised an agreement to pay $50,000 to farm-in partner Apollo Minerals Ltd (ASX:AON) to increase its stake to 100% ownership of Aurora Tank.
In addition to gold, Marmota is exploring for copper at the Melton project on the Yorke Peninsula, South Australia.
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