Marmota To Exhibit at PDAC 2012 in Toronto at Booth 2177, Investors Exchange
Toronto, Feb 21, 2012 AEST (ABN Newswire) - Marmota Energy (ASX:MEU) is pleased to announce it will be exhibiting at the PDAC 2012 Convention, situated at Booth 2177 in the Investors Exchange.
Marmota Energy is an integrated precious metal and uranium exploration specialist offering shareholders exposure to a pipeline of discovery opportunities.
Marmota returns shareholder value through a two-pronged approach of:
- discovery and resource definition on existing key projects with a focus on financial returns and building shareholder value; and
- identifying and investing in advanced exploration opportunities with emphasis on potential near-term production and revenue capability.
Marmota is continuing to maximise its discovery opportunities through the application of leading edge exploration techniques in our project areas.
High resolution gravity data and airborne electromagnetic (AEM) surveys have successfully mapped prospective geology along palaeochannels and defined potential IOCGU targets.
Marmota's project portfolio offer uranium, iron ore and copper-gold potential. Tenement interests cover in excess of 10,000 square kilometres in the Gawler and Curnamona Cratons in South Australia.
Key uranium projects:
Marmota's flagship uranium project Junction Dam, one of two in-situ recovery (ISR) amenable palaeochannel sedimentary uranium projects. Junction Dam is strategically located 10 km from Uranium One's Honeymoon uranium mine in South Australia. In 2011 Marmota defined a maiden 3.33 Mlb Inferred resource at one of three adjoining prospects. Chemical assay results confirm positive disequilibrium factor ranging between 1.22 and 2.25 for the deposit with high grades of up to 8143 ppm U3O8. Uranium has been intersected in drilling along a 15 km strike offering significant resource expansion potential.
Marmota's other uranium project, Pundinya is located near to the Trans Australian railway and has grades of up to 3200 ppm U3O8 from assay. The uranium mineralisation has significant expansion potential along a 9km strike length.
The Western Spur iron ore project contains a number of large scale hematite outcrops discovered in early 2011 within an 8km zone. The bulk of the iron outcrop has been identified as hematite with discrete high grade pods of manganese. Grades greater than 60% Fe have been returned from assay of surface samples with up to 28% Mn. The iron outcrops are located 15km from the main arterial road that services the Moomba gas fields to the north of the project. To the south lies the Leigh Creek rail head that services coal fields shipping ore to the coast.
The Melton copper-gold project is located on the northern Yorke Peninsula in South Australia nearby to existing large scale copper mine development. The project has excellent access to power, road, rail and port infrastructure. Grades intersected from drilling include 9m @ 1% Cu which includes grades of up to 2.25% Cu. A broad zone of copper intersected extending for at least 1.3km with expansion potential along a further 1km of target is yet to be tested.