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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.