New palaeochannels discovered: Marmota

  Initial work has commenced on Marmota Energy’s Ambrosia and Mulgathing tenements in northern South Australia.Marmota said the company had already received preliminary data from the surveying completed to date. The preliminary gravity data have been used to delineate previously unknown palaeochannels that have the potential for sandstone-hosted uranium on the Mulgathing tenement and the delineation of extensions to the significant palaeochannel system running through the Ambrosia tenement. Marmota said the data would greatly aid the company in refining its planned drilling program, as well as providing for additional targets. The company said the data will assist future drilling activities, particularly on the Mulgathing tenement, where there has been a significant improvement in delineating palaeochannel drainage systems. Preliminary infill data acquired on Ambrosia has further enhanced discrete coincident magnetic, gravity and geochemical anomalies, offering Marmota additional bedrock (IOCGU) targets for drill testing. With the survey completed ahead of schedule Marmota said it would accelerate drill testing of targets on Ambrosia and Mulgathing late in the first quarter of 2008