Marmota Ltd (ASX:MEU) has stumbled upon more than 40 untested gold anomalies at the Gawler Craton Gold Project in South Australia.
The gold explorer recently embarked on an archive search, which unearthed the gold-in-calcrete anomalies after it acquired the Jumbuck project in mid-November.
The precious metal occurrences lie within the tenements adjacent/near to the Challenger gold mine, which historically produced 1.2 million gold ounces, and Marmota’s Aurora Tank discovery.
Speaking to the findings, Marmota chairman Dr Colin Rose said: “Marmota is sitting on a remarkable bundle of gold anomalies, across an area that is already blossoming with gold discoveries.”
Marmota shares are up 2.27% in early afternoon trade to A$0.045.
With more than 40 new anomalies to follow up, Gawler Craton continues to firm up as an exciting gold exploration opportunity.
The historical calcrete sampling extends back to the days when Dominion Mining (ASX:DOM) Ltd and Resolute Mining Ltd were active in the region and the Challenger gold mine was discovered.
Remarkably, these anomalies have never been followed up, and they remain untested.
Dominion originally identified anomalous gold-in-calcrete near the surface in the area and concluded it was an indicator of gold below surface.
Interestingly, both Challenger and Aurora Tank were found by testing near-surface calcrete for anomalous gold.
Marmota has already yielded multiple, strong gold intersections exceeding 100 g/t gold over 1 metre at the Aurora Tank gold discovery.
All the gold hits have been close to surface, including, most recently, Marmota’s best-ever result of 165 g/t gold over 1 metre and approximately 57 metres from surface.