Uranium it has:
They've entered into an joint venture agreement with
Teck Australia (owned by Canadian resources giant Teck Resources), PlatSearch NL and Eaglehawk Geological Consulting to explore for uranium deposits on the Junction Dam project (EL 3328).As part of its earn in requirement, Marmota will immediately undertake a program of detailed geophysical data acquisition across the tenement to further define palaeochannel extents and identify targets for
drill testing scheduled to begin next month.
They've also discovered a new uranium prospect at its Mulyungarie project in mid-north South Australia. Mulyungarie is 18km southeast of the Honeymoon Uranium Mine (a 6.5m pound inferred resource owned by Uranium One and Mitsui) and 50km west of Broken Hill.
Furthermore, they've also launched its exploration program on the highly prospective Junction Dam uranium project. High resolution ground gravity data is being acquired to more accurately map the Yarramba palaeochannel.
The gravity survey is expected to be completed within two weeks. As with Marmota Energy's adjoining Mulyungarie project, Junction Dam has confirmed Eyre and Namba formation sediments, both prospective for large tonnage low operating cost uranium deposits.
Further drill testing of the channel system, particularly on the south western part of Junction Dam immediately adjacent to Mulyungarie, is scheduled to commence next month.
More:
They've just entered into an agreement with Ramelius
Resources for gold project generation in the goldfields of
Nevada, considered to be the goldmining capital of the US.
Plus, they've just completed a new, high resolution
aeromagnetic survey over the highly prospective Melton
copper-gold-uranium project on South Australia's Yorke Peninsula. The two tenements (EL3911 and EL4000) that make up Marmota’s project (adjacent to RXM), cover the northern extension of the Pine Point Fault and contain a number of discrete magnetic and gravity features consistent with copper-gold mineralisation elsewhere along the fault. Drilling will commencein late November after further mag groundwork is completed.
* Currently, they have an undiluted cap of $10.6m with cash on hand at approx $8m.
A little gem and as yet, unheard of.
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