The company’s drilling program focused on the northern part of the project area. All holes intersected the prospective Namba and Eyre Formations, which host other known uranium deposits in the region. The Namba Formation in the region is known to contain favourable lithologies of carbonaceous silts, clays and minor sands and is the upper unit within the palaeochannels of the region. The lower sequences of the palaeochannels is known to contain fluvial carbonaceous, pyritic sand including fine grained beds of clays as well as lignites.
Significant gamma anomalism from the downhole geophysics was encountered in six holes with a cut off equivalent grade of about 100ppm eU3O8, with 12 other holes returning positive results for uranium mineralisation within the seven square kilometre target area. The best intersection was in hole MURM0124 showing two distinct peaks from the downhole gamma tool, indicating equivalent grades of 256 ppm eU3O8 (1122 counts per second) and 173 ppm eU3O8 (761 counts per second.) Marmota Energy interprets this as the limbs of a ‘classic roll front’ downhole gamma signature. Marmota Energy believes that this drill hole in particular has intersected the two limbs of the tail of potential roll front style uranium mineralisation.
Follow up drilling is planned in October 2009 within the Mulyungarie project, which will be designed to test the full extent of any potential mineralised zone. This zone may continue on to the adjacent Junction Dam joint venture project area, which also will be tested as part of this program.
