Marmota Limited (Stock Symbols – ASX: MEU, OTCMKTS: MRMEF) [formerly Marmota Energy Limited] engages in the exploration of gold copper and uranium and very recently rare earth mineral properties in Australia.
The company’s uranium project is also it’s flagship project. The Junction Dam uranium project covers an area of 341 square kilometers located to the west of Broken Hill, Australia.
The project has a JORC inferred resource of 5.4 million pounds uranium grading an average of 557 parts per million at their Saffron deposit.
Marmota Ltd believes the overall exploration target is somewhere in the range of 22 to 23 million pounds of uranium. Their assays have graded as high as 8,143 parts per million at this deposit.
Aurora Tank Project in the Gawler Craton – Home of the Challenger Gold Mine
The Company’s Dominant Tenement Holding
Gold exploration is centred on the company’s dominant tenement holding in the highly prospective and significantly underexplored Gawler Craton.
The Gawler Craton gold project comprises around 6,000 square kilometres in the Woomera Prohibited Area and represents a dominant tenement holding in the highly prospective and significantly underexplored Gawler Craton.
The Gawler Craton is a large, Precambrian shield that covers around 1.7 million square kilometers of central Australia and is one of the most prospective gold provinces in the world.
The Gawler Craton is host to multiple world-class gold deposits, including the Challenger Gold Mine which has produced in excess of 1 million ounces of gold.
Rare Earth Elements
Marmota has announced a new major discovery within the boundary of its Gawler Craton tenement.
The company has indicated it has located a high value magnet REE (rare earth element) grading 1,015 parts per million in hole number 590.
The company reports that the assay has 3 meters grading 2,701 parts per million from 15 meters.
Marmota has been active on the Champion Prospect in the West Melton tenement (100% owned), on the Copper Coast of the Yorke Peninsula.
The Champion Prospect is a large copper-gold-silver prospect that has seen significant recent exploration activity, with eight drill rigs currently active on the tenement.
This highly prospective area is host to multiple copper-gold prospects and systems, including the recently discovered Champion lode.
About Marmota Energy Limited
The company has no debt, and as of the end of March 2022, had a cash balance of $2.8 million. The market cap at that time was approximately $52 million, with 980 million shares issued.
The company was formerly Marmota Energy Limited and changed its name to Marmota Limited in November 2016.
Executive Chairman – Dr. Colin Rose
Dr. Colin Rose has been the non executive chairman of Marmota since May 1, 2015. He is an experienced business person, with a PhD in Economics from the University of Sydney.
Executive Chairman Dr. Colin Rose has a long-term interest in the mining and exploration sector, with particular exposure to gold and copper. He has founded and directed a technology company that is used in over 55 countries.
Dr. Colin Rose has spoken to groups such as the Reserve Bank of Australia, the Bank of England, and the National Bureau of Economic Research (USA).
Non Executive Director: Production – Neville Bergin
Neville Bergin brings over four decades of experience in the mining industry to Marmota, with a focus on gold operations.
Neville Bergin has experience in both open pit and underground mines, and has previously held roles as a director of Northern Star Resources Ltd, Vice President of Gold Fields Australia Pty Ltd, and General Manager (Operations) for Jubilee Mines.
In his previous role as manager of the Fosterville Gold Project, Neville oversaw an oxide gold heap leach operation – a relevant experience that will be beneficial as Marmota moves forward with its own heap leach operation at Aurora Tank.
Executive Director: Exploration – Aaron Brown
Aaron is a skilled exploration geologist who has been exploring for nickel, gold copper and uranium across many different terrains in South Australia, the Northern Territory, and Western Australia for over 17 years.
In January 2018, he joined Marmota as Senior Geologist and has been working closely with Dr. Kevin Wills to develop the Aurora Tank gold discovery. Additionally, Aaron oversees Marmota’s biogeochemical exploration program which has led to the discovery of the NW flank at Aurora Tank – including numerous high-grade gold intersections over 1 meter.
On May 11th, 2021, Aaron was appointed Executive Director (Exploration) of Marmota.
Marmota Limited is based in Glenelg, Australia.
79-81 Brighton Road
Glenelg SA 5045 (Australia)
Phone: (08) 8294 0899
Fax: (08) 8376 8633
Email: [email protected]
Marmota Limited Stock Performance & Market Cap
Stock Symbols – ASX: MEU, OTCMKTS: MRMEF
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