ASXANNOUNCEMENT 4July2016
AuroraTankGoldProjectMarmotaAcquiresFull100%Ownership
MarmotaEnergyLimited(ASX:MEU)(“Marmota”)
KEYPOINTS• MarmotahasenteredintoanagreementwithitsJVpartner,ApolloMinerals.
• Undertheagreement,MarmotawillassumefullcontrolofAuroraTank,andincreasesitsstaketofull100%ownershipofAuroraTank(EL5589).
• Wide-spaceddrillingoftheAuroraTankNWGoldtargetin2015showedsignificantgoldmineralizationnearsurface.
Background• TheAuroraTanktenement(EL5589)issituatedapproximately50kmNEofthe
Challengergoldmine.
• GoldwasfirstidentifiedatMarsAuroraTankprospectbycalcretesampling;adiscretegold-in-calcreteanomalyextendsover2kmstrikelength,overlyingamagneticanomaly.
• ApolloMineralsLimited(ASX:AON)conducteddrillingontheAuroraTanktenementin2014and2015aspartofafarm-inagreementwithMarmota.
• Apolloreported[seeAONASXReleases:21October2014and9June2015]:o Significantnearsurfacegoldmineralisationintersectedinrecently
completed35holedrillprogrammeatMarsAuroraTankProject(Fig.1)o Mineralisedzoneisinterpretedtoextendforatleast500malongstrikeand
isopeninalldirectionso Earlystagedrilledintersectionsinclude:
! 4mat5g/tgoldfrom16m! 16mat1g/tgoldfrom20m,including12mat1.3g/tAufrom20m! 16mat0.7g/tgoldfrom19m,including4mat0.9g/tAufrom31m
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Figure1:AuroraTankdrillholelocationplanandgolddistribution[seeAONASXRelease:9June2015]
AgreementThenewagreementbetweenMarmotaandApollofinalisesallmattersunderthefarminagreement.1ApollowilltransfertoMarmotaitsinterestintheAuroraTanktenementandMarmotawillpayApollo$50,000.
1DetailsofthefarminagreementaresetoutinASX:MEUrelease–15February2013.
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Figure2:Marmota’sGawlerCratontenementsaroundtheChallengerGoldmine •AuroraTank(EL5589)isencircledinGREEN •Tenementsagreed(inApril)tobeacquiredfromaprivatepartyareoutlinedinREDForfurtherinformation,pleasecontact:
AboutMarmotaEnergyLimitedMarmota Energy Limited (ASX: MEU) is a South Australian mining exploration company,focused on gold, copper and uranium. Gold exploration is centred on the Company’sdominanttenementholdinginthehighlyprospectiveandsignificantlyunderexploredGawlerCraton, near the Challenger gold mine, in the Woomera Prohibited Defence Area. TheCompany’s cornerstone copper project is based at the Melton project on the YorkePeninsula. The Company’s largest uranium project is at Junction Dam adjacent to theHoneymoonmine.
MarmotaEnergyLimitedDavidWilliamsManagingDirectorEmail:[email protected]
Unit679–81BrightonRoadGlenelgSA5045ABN:38119270816T: (08)82940899F: (08)83768633www.marmotaenergy.com.au
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