ASX-listed Marmota Ltd is ramping up its first-ever drilling campaign at the company’s Campfire Bore gold discovery in South Australia, now expanding its maiden program from some 16,500m to a total of over 20,000m of drilling.
The program will now be divided into two stages targeting high-grade, near surface gold mineralisation within its recently formed Golden Moon joint venture (JV), located near the company’s flagship Aurora Tank gold project just 30km to the east.
Marmota has completed the first phase of reverse circulation (RC) drilling at Campfire Bore, which saw 86 holes drilled for a total of 11,690m.
Marmota says it has expanded the maiden drill program at its Campfire Bore gold discovery in SA’s Gawler Craton.
Samples from stage 1 are currently in the lab, with results anticipated by early December.
Management says Campfire Bore has “enormous potential to grow” having experienced minimal drilling of only near-surface gold, with some of the historic drilling only occurring in the top 20m – 30m from surface.
‘This is our first program at Campfire Bore we are trying to develop a better understanding of the location of high-grade mineralisation’
Marmota executive chairman Dr. Colin Rose said:
The company will now move to flesh out the emerging Campfire Bore, with its belief the deposit could quickly rival the potentially open pittable gold at its flagship nearby Aurora Tank project.
Marmota’s Executive Chairman Dr Colin Rose said: “Drilling at Campfire Bore has been progressing very well, with up to 450m of RC drilling in a day. This is our first program at Campfire Bore: we are trying to develop a much better understanding of the location of high-grade mineralisation at Campfire Bore. We are very much looking forward to receiving assay results from the Stage 1 drilling.”
Aurora Tank has recently undergone 7500m of drilling for a total of now more than 60,000m, in comparison to Campfire Bore where only 10,000m of drilling to date has already exposed some 109,000 ounces of near surface gold.