Marmota Says Drilling at South Australia Discovery Yields Gold Grades Over 100 Grams Per Tonne; Shares Hit Near Three-Year High

MT Newswires Live

01/29

Mining company Marmota (ASX:MEU) said the detailed 1-meter split assay for holes 11 to 86 of stage one of drilling at the Campfire Bore discovery in South Australia returned 107 grams per tonne (g/t) grade of gold, five intersections over 20 g/t grade of gold, and 13 intersections over 10 g/t grade of gold, according to a Wednesday filing with the Australian bourse.

The program identified a high-grade zone to the south and priority open extensions, including thick intervals close to the surface, the filing said.

The discovery is part of the company's Golden Moon joint venture with Coombedown Resources, per the filing.

Marmota shares rose 3% in afternoon trade Wednesday and earlier reached their highest since May 2022.

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