The Gawler Craton gold project comprises over 5,500 square kilometers in the Woomera Prohibited Area and represents a dominant tenement holding in the highly prospective and significantly underexplored Gawler Craton, near the Challenger Gold Mine which has produced in excess of 1 million ounces of gold.
Significant assay results of up to 2.9% copper encountered at the Champion Prospect in the West Melton tenement (100% owned), on the Copper Coast.
In June 2016, Marmota produced its first Exploration Target for the Champion Prospect: From 1 to 4 million tonnes at a grade between 1% to 1.5% copper [see ASX:MEU 16 June 2016].
Junction Dam is Marmota’s flagship uranium project, located 50km west of Broken Hill. Marmota has 100% of the uranium rights. High grades of uranium mineralisation have been intersected over three phases of drilling. There is an Inferred Resource for the Saffron deposit at Junction Dam of 5.4 million pounds at an average grade of 557 ppm U3O8 and an Exploration Target of 22 to 33 million lbs U3O8.