Marmota to drill 10 new gold targets in July
South Australian mining exploration company Marmota Ltd (ASX:MEU) today released promising news in relation to its recently discovered portfolio of 10 new gold-in-calcrete anomalous zones.
These anomalous gold zones are situated on MEU's tenements surrounding the Challenger gold mine, which has produced more than 1.2 million ounces of gold over its life.
MEU will conduct its first reconnaissance drill test program of up to 10 targets in July - just a few weeks from today. Each of the zones were found to have consistent significant zones of gold-in-calcrete anomolism.
None of the 10 zones that MEU is about to drill have been drill tested, highlighting the potential of the work that is about to commence.
The potential is speculative at the moment and investors should take all publicly available information into account before making an investment decision with regard to this stock.
MEU recently discovered high grade gold at Aurora Tank about 50km north east of Challenger.
This round of drilling is just the beginning for MEU and the 6000 square kilometres of ground it holds around Challenger.
You can read an in-depth account of MEU on the Next Mining Boom (a related entity of S3 Consortium).