Marmota Ltd (ASX:MEU) (FRA:43M) is readying to kick off a diamond drilling program at the Aurora Tank gold asset in South Australia's Gawler Craton near the Challenger gold mine.
The ASX-listed explorer expects to embark on a production-focused diamond campaign from the start of July after the discovery returned hits of up to 1-metre at 165 g/t gold in February.
Marmota intends to drill 14 diamond holes covering 1,000 metres in order to determine the best way to prepare Aurora Tank for production.
The upcoming diamond campaign is fully funded and will take roughly a month to complete.
“Long-awaited” program
Marmota chairman Dr Colin Rose said: “We are delighted to get the long-awaited diamond drilling program underway.
“This program is focused primarily on advancing Aurora Tank to production.
“Marmota is also planning a separate RC program aimed at further exploration and growth, following the diamond program.
“We are carrying out the diamond program first, as our priority is to get the necessary scoping/feasibility/final metallurgical studies completed as soon as possible.”
Marmota’s Aurora Tank tenement and tenements around the Challenger Gold Mine.
Following up high-grade hits
Marmota’s July campaign trails a series of high-grade gold hits intersected during a reverse circulation drilling program in September 2020.
Specifically, that campaign uncovered Marmota’s best-ever intersection: 1-metre at 165 g/t gold from just 66 metres downhole.
The result marked the fourth drilling program in which the company discovered an average 100 g/t gold or more over 1 metre at Aurora Tank.
Map indicating previous high-grade gold intersections at Aurora Tank.
Promisingly, the September campaign also indicated the asset’s NW flank remained open to the north and in the west, opening up more avenues for exploration.
The chairman said: “We are very fortunate that Aurora Tank combines high-grade intersections that are close to surface, with excellent metallurgy, making Aurora Tank potentially amenable to low-cost low capex open-pittable heap leach methods, which are our clear focus.”