Marmota set to spin drill bit at SA uranium project
Two additional zones are considered areas of interest, while a further 14 drillholes have been designed to infill the current Saffron resource.
Importantly, Junction Dam sits in the same paleochannel as Boss Energy’s massive Honeymoon uranium project that features a mineral resource of 36 million pounds grading 660ppm uranium oxide. The Jasons deposit at Honeymoon already hosts a JORC-compliant resource of 6.2 million tonnes at 790ppm for 10.7 million pounds of contained uranium oxide.
Highlights from Boss’ recently-completed drilling program at Jasons, close to Junction Dam, returned a 3m hit at 3221ppm uranium oxide from 105.5m, 6m going 1278ppm from 100.5m and 3.25m grading 1509ppm from 104.5m.
Marmota’s Junction Dam project has a uranium resource of 5.4 million pounds grading 557ppm uranium oxide, with an exploration target of between 22 million and 33 million pounds at 400ppm to 700ppm.
The recent rise in demand for uranium prompted the company to restart exploration at the SA operation. With a slew of enticing new targets and the impressive Boss project right next door, Marmota could be looking at a significant resource increase at Junction Dam.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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