Adelaide, Australia – 16 January 2025 | Marmota Limited (ASX:MEU) is pleased to announce commencement of its drilling program at its Muckanippie Heavy Minerals Titanium discovery. This follows the company’s recent bonanza Heavy Mineral assay results across all discovery holes at the site, marking a major step forward in the development of the project.
Drilling Program Overview:
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Planned Holes: 89 Aircore (AC) drill holes (subject to adjustment).
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Depths: Average hole depth of approximately 30m, targeting titanium-bearing mineral sands from the surface.
The Company’s exploration team has mobilised to establish themselves at base camp at Aurora Tank, near the Muckanippie site, to prepare for the program. Drilling supplies are also en route. Drilling is set to commence next week and is anticipated to conclude by the end of the month.
Exceptional Results and Strategic Significance:
The Muckanippie discovery recently yielded remarkable Heavy Mineral (HM) concentrate grades in every discovery hole, with standouts including:
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WI-081: 28m @ 19.2% HM from surface, including 4m @ 22.2% HM.
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WI-080: 36m @ 13.5% HM from surface, including 4m @ 27.8% HM.
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WI-079: 39m @ 13.2% HM from surface, including 4m @ 26.0% HM.
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WI-078: 24m @ 13.5% HM from surface, including 4m @ 21.3% HM.
The newly identified regional-scale palaeochannel spans ~28km across Marmota’s tenements, with up to 5km widths. This discovery aligns closely with global demand for titanium, which is essential for things like energy (storage), defence, semiconductors, and medical technology.
Dr Colin Rose, Executive Chairman of Marmota, commented: “Marmota announced just two days ago HM assays featuring bonanza grades in every discovery hole. Those assays confirm Marmota’s discovery at Muckanippie as a highly significant new Heavy Mineral sands discovery. Marmota is progressing with full speed a major follow-up drill program to rapidly advance, grow and develop this outstanding titanium Heavy Mineral discovery.”
Strategic Location:
The Muckanippie site benefits from its proximity to major transport and infrastructure, being adjacent to the Adelaide to Darwin rail line and the Adelaide to Perth rail line.
For more information about Marmota Limited and updates on the Muckanippie discovery, visit: www.marmota.com.au.
About us:
About Marmota Limited
Marmota Limited (ASX:MEU) is a South Australian mining exploration company focused on gold and uranium. Gold exploration is centred on the Company’s gold discovery at Aurora Tank that is yielding outstanding intersections in the highly prospective and significantly underexplored Gawler Craton in the Woomera Prohibited Defence Area. The Company's flagship uranium resource is at Junction Dam adjacent to the Honeymoon mine. For more information, please visit: www.marmota.com.au
For media inquiries or further information, please contact:
Dr Colin Rose
Executive Chairman
colin@marmota.com.au
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au
