Exploration company Marmota (ASX:MEU) is set to begin drilling 89 holes at the Muckanippie heavy minerals-titanium discovery in South Australia next week, according to a Thursday filing with the Australian bourse.

Drilling supplies will arrive on site in the coming days, and drilling is expected to finish by the end of the month, the filing said.

The company discovered "exceptional" titanium mineralization at Muckanippie from the surface in every discovery hole in November 2024, according to the filing.

Shares rose nearly 4% in midday trade Thursday and earlier reached their highest since July 2022.