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Marmota Energy Ltd.
Summary
| Project: | Goshawk | |
|---|---|---|
| Deposit: | Aurora tank | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/25/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 25-10-2016: Marmota Energy Ltd. announces an Exploration/Drilling Update report for its Aurora tank deposit at the Goshawk project. Drilling results incl. 4m @ 8.0g/t Au from 24m. Marmota is delighted to announce that the September drilling program at Gos | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Kevin Wills (Internal) | |
| ABSTRACT: | Marmota is delighted to announce that the September drilling program at Goshawk Prospect at Aurora Tank has returned multiple significant gold intersections, all close to the surface. Significant gold over 750m strike length [ see Fig. 1 ].Consistently close to surface.New mineralisation intersected, including at eastern and western extremities of previously known zone. Aurora Tank (EL 5589) is situated about 50km NE of the Challenger gold mine [ see Fig. 4 ].Aurora Tank is 100% owned by Marmota [see ASX:MEU 4 July 2016 ].Gold was first identified at Aurora Tank’s Goshawk gold prospect by calcrete sampling. In September 2016, Marmota conducted an aircore drilling program to test the Goshawk Gold Prospect at Aurora Tank with the intention of fully defining geochemical dispersion from gold mineralisation [ see ASX:MEU 5 September 2016 ].98 angled aircore drill holes. Total drilling: 4,385m. Completed ahead of schedule on 16 September 2016.Drill grid and hole numbers shown in Appendix 2. The program has successfully outlined gold geochemical haloes which point to the best area for future drilling..Mineralisation is developed in an anastomising shear zone developed during retrograde metamorphism of metasedimentary and metabasic gneiss. This is a typical environment for late Archaean-style gold mineralisation. The mineralisation includes weakly anomalous silver, arsenic and copper and from the fresher intersections consists of quartz, sericite and carbonate associated with pyrite and probable minor arsenopyrite and chalcopyrite. This is a typical lithological association for late Archaeanstyle gold mineralisation]. The mineralisation appears to show some similarities to the Mainwood and Golf Bore areas located in parallel trending shear zones some 5 – 20 kilometres to the north west. Further details are contained in Appendix 1. | |
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