Aurora Tank Gold Grades Jump 73% with 93% Recovery; Titanium Sands Hit 90% Value

Aurora Tank: A Gold Grade Breakthrough

Marmota Limited (ASX: MEU) has delivered an exceptional quarterly update, highlighted by a remarkable 73% increase in gold grades at its flagship Aurora Tank project. Bulk Leach Extractable Gold (BLEG) testing on a previously reported 50 g/t gold interval returned an average grade of 87 g/t, with three samples exceeding 90 g/t. This substantial uplift not only validates earlier assays but also enhances the project's economic potential.

Complementing these grade improvements, metallurgical testwork conducted by Australian Minmet Metallurgical Laboratories and managed by heap leach experts Kappes Cassiday & Associates demonstrated outstanding gold recoveries of up to 93% using low-cost, low-capital heap leach methods. Rapid leaching kinetics were observed, with over 55% gold extracted within the first 10 days, underscoring the amenability of Aurora Tank ore to efficient processing.

Campfire Bore: Maiden Drilling Uncovers Bonanza Grades

The company’s maiden drilling program at Campfire Bore has already yielded impressive results, including a bonanza-grade intercept of 107 g/t gold over 1 meter from 57 meters downhole. Additional high-grade intersections include five intercepts over 20 g/t and thirteen over 10 g/t gold, indicating a robust mineralised system with significant near-surface potential. These results set the stage for an expanded Stage 2 drilling campaign aimed at delineating extensions and upgrading resource confidence.

Muckanippie Titanium Discovery: High-Value Heavy Minerals

In parallel with its gold exploration, Marmota has unveiled a new titanium heavy mineral sands discovery at Muckanippie. Drilling has returned thick intervals from surface with heavy mineral (HM) concentrate grades exceeding 19%, and assays reveal up to 90% Valuable Heavy Mineral (VHM) content. Notably, the mineral assemblage includes exceptionally high proportions of rutile and pseudorutile, prized for their high titanium dioxide (TiO2) content and critical mineral status.

The discovery lies within a regional palaeochannel system extending over 28 kilometers, with Marmota holding 100% ownership of key tenements. The project benefits from proximity to major transport infrastructure, enhancing its strategic value. Over 2,000 samples from a 91-hole, 3,272-meter drill program are currently being processed, with assay results expected by the end of May.

Financial Position and Outlook

Marmota strengthened its balance sheet during the quarter by raising $5 million through a placement at 5.5 cents per share, providing ample funding to advance its exploration and development programs. The company’s cash position is the strongest in years, underpinning confidence in progressing resource studies and pit design at Aurora Tank, alongside ongoing titanium exploration.

Gold prices have surged to approximately A$5,200 per ounce, a record high that significantly enhances the economics of Marmota’s low-cost, open-pit gold projects within the Gawler Craton. This macro environment, combined with the company’s technical progress, positions Marmota well to capitalise on rising demand for both gold and critical minerals like titanium.

Strategic Implications

Marmota’s integrated approach to exploring both gold and titanium within a prolific mineral province reflects a forward-looking strategy aligned with global commodity trends. The high-grade gold intersections and metallurgical efficiencies at Aurora Tank could accelerate project development timelines, while the titanium discovery taps into critical mineral supply chains increasingly prioritised by governments worldwide.

As assay results from ongoing programs emerge and resource delineation advances, Marmota’s portfolio could attract heightened industry interest, potentially unlocking further value through partnerships or development initiatives.