Marmota Energy identifies big copper target

THE DRILL SERGEANT: Marmota Energy (ASX: MEU) has completed a program of infill geochemical sampling and geophysical surveys on the company’s West Melton copper-gold project, located on the Yorke Peninsula in South Australia.

The program has defined a geochemical target the company considered to be ready for immediate drill testing.

 

Source: Company announcement

 

Of particular interest to Marmota is a target that was defined on the company’s wholly-owned West Melton tenement area, which returned strongly anomalous coincident gold and copper-in-calcrete results.

Marmota explained it had thought the target area was a high priority for aircore drill testing and subsequent follow-up exploration commenced in late 2013, comprising infill ground magnetic surveys and calcrete sampling, was carried out.
 
The company said assay results it received from 25 metre spaced infill calcrete sampling confirmed the existence of a copper in-calcrete anomaly coincident with gravity and magnetic features, which extends for more than 1.2 kilometres.

Historic shallow copper workings lie at the south western end of the copper anomaly.

“Individual calcrete sample assays ranging up to 197ppm copper were returned,” Marmota Energy said in its ASX announcement.

“This is comparable to results recorded at other prospects on neighbouring tenements where follow up drilling of geochemical anomalies of this tenor has intercepted high grade mineralisation.

“Niton XRF spot readings of calcrete samples from the Areena workings area range up to 423 ppm copper.”

Marmota commissioned a round of ground geophysical surveys that have recently been completed, which the company asserts have complemented the data it already has, defining coincident gravity and magnetic anomalies associated with the copper and gold-in-calcrete anomaly.

The company has conducted modelling of the results, which indicate potentially mineralised bodies could be as shallow as 15m.

“This is in line with mineralisation at the nearby surface working at Areena,” Marmota said.

“No drill holes have tested this anomaly with the nearest historic drill hole 4 kilometres away.”

Marmota has shallow aircore drill planned to commence March 11 to test priority targets within the defined copper anomaly.

A number of drill holes are also planned adjacent to the historic Areena workings.

Email: info@marmotaenergy.com.au

Website: www.marmotaenergy.com.au