Ann: New Uranium Prospect at Mulyungarie , page-2

Marmota discovers new uranium prospect at Mulyungarie
11:19, Tuesday, 15 September 2009

Sydney - Tuesday - September 15: (RWE Aust Business News) -
Marmota Energy Ltd (ASX:MEU) has discovered a new uranium prospect at
its Mulyungarie project in mid-north South Australia.
"Encouraging results" have been returned from the company's
broad-spaced, maiden 24-hole drilling program testing shallow
sedimentary uranium targets on EL 3910 - Mulyungarie.
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.
Marmota notes the project's proximity to the major regional
centre of Broken Hill and good access to road and rail infrastructure
makes this a strategically significant project for Marmota Energy.
The company's drilling program focused on the northern part of
the project area.
All holes intersected the prospective Namba and Eyre formations,
which host other known uranium deposits in the region.

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Significant gamma anomalism from the downhole geophysics was
encountered in six holes with a cut-off equivalent grade of about 100ppm
eU3O8 with 12 other holes returning positive results for uranium
mineralisation within the 7 sq km target area.
The best intersection was in hole MURM0124, showing two distinct
peaks from the downhole gamma tool, indicating equivalent grades of 256
ppm eU3O8 (1122 counts per second) and 173 ppm eU3O8 (761 counts per
second).
Marmota interprets this as the limbs of a 'classic roll front'
downhole gamma signature.
The company believes this drillhole in particular has
intersected the two limbs of the tail of potential roll front style
uranium mineralisation.