Marmota set to spin drill bit at SA uranium project

Marmota is primed to trial respective high-priority uranium targets astatine its Saffron prospect, with 164 drillholes planned arsenic portion of the company’s reboot for its Junction Dam task successful South Australia.

The known Saffron deposit hosts an inferred assets of 5.4 cardinal pounds grading 557 parts per cardinal uranium oxide and it has antecedently delivered awesome drilling results including highest assays arsenic precocious arsenic 12,310ppm and 8465ppm uranium oxide.

Marmota’s Junction Dam uranium task sits adjacent doorway to Boss Energy’s Honeymoon deposit.

The institution has already identified 4 new, high-priority drill targets to the north, eastbound and southbound of the Saffron assets wherever the geology is favourable for uranium mineralisation and is supported by stratigraphic modelling, electromagnetic surveys and gravity images.

The drill programme has been designed by uranium adept Mark Couzens, who conducted a afloat method investigation of the stratigraphy and mineralisation astatine Junction Dam backmost successful November. Management says the holes volition beryllium tested utilizing a rotary mud drill rig with downhole geophysical probes suitable for uranium exploration.

The caller stratigraphic exemplary volition alteration Marmota to people high-grade uranium mineralisation some wrong the existent assets country and adjacent assets exploration targets, arsenic good arsenic astatine the Bridget imaginable to the northbound and the Yolanda imaginable to the south.

Three of the 4 caller targets prevarication extracurricular of the existent Saffron uranium assets area, providing important scope for growth. Six main uranium-bearing palaeochannels person besides been identified successful the deposit from the stratigraphic modelling and they are each unfastened for further mineralisation.

Marmota plans to descend 18 holes to trial an archetypal people to the northbound of Saffron astatine the junction of 5 of the six uranium-bearing paleochannels identified successful a caller electromagnetic survey. A further 29 holes volition analyse an country to the southbound of Saffron wherever 2 south-to-north paleochannels are located, with a floodplain up to 70m wide.

Six drill targets person been defined astatine a 3rd country connected the eastbound borderline of Saffron wherever 3 uranium-bearing paleochannels are interpreted to run, according to the caller survey.

A full of 81 holes person been designed to trial a 4th country wrong the existent Saffron resource. The people is astir 600m agelong by 150m wide, is mostly untested and has been identified to perchance big high-grade uranium mineralisation.

Two further zones are considered areas of interest, portion a further 14 drillholes person been designed to infill the existent Saffron resource.

Importantly, Junction Dam sits successful the aforesaid paleochannel arsenic Boss Energy’s monolithic Honeymoon uranium task that features a mineral assets of 36 cardinal pounds grading 660ppm uranium oxide. The Jasons deposit astatine Honeymoon already hosts a JORC-compliant assets of 6.2 cardinal tonnes astatine 790ppm for 10.7 cardinal pounds of contained uranium oxide.

Highlights from Boss’ recently-completed drilling programme astatine Jasons, adjacent to Junction Dam, returned a 3m deed astatine 3221ppm uranium oxide from 105.5m, 6m going 1278ppm from 100.5m and 3.25m grading 1509ppm from 104.5m.

Marmota’s Junction Dam task has a uranium assets of 5.4 cardinal pounds grading 557ppm uranium oxide, with an exploration people of betwixt 22 cardinal and 33 cardinal pounds astatine 400ppm to 700ppm.

The caller emergence successful request for uranium prompted the institution to restart exploration astatine the SA operation. With a slew of enticing caller targets and the awesome Boss task close adjacent door,

Is your ASX-listed institution doing thing interesting? Contact: mattbirney@bullsnbears.com.au

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