URANIUM - Major increase to Junction Dam resource

Marmota Energy says further significant intersections of uranium from drilling at the Junction Dam project in South Australia have confirmed a major increase to the size of the Saffron deposit.

Recent drill holes have intercepted uranium mineralization to the east and south beyond the current deposit boundary. Marmota says this offers significant expansion potential by increasing the Saffron zone of mineralization to 2.4km by 1.5km, or eight times the size of the nearby Honeymoon uranium deposit site.

Saffron is one of four prospects identified by Marmota at the Junction Dam project, 50km west of Broken Hill. Drill intercepts at the Bridget and Yolanda deposits have confirmed mineralization continuity across the three deposit areas, prompting the company to revise its exploration target at Junction Dam to 15-25 million tonnes @ about 400-700ppm uranium. One drill hole at Yolanda intersected mineralization over a massive 5.5 metre interval with a peak grade of 772ppm uranium.

Marmota’s managing director Dom Calandro says, “Junction Dam is developing into a large in-situ leach (ISL) uranium deposit, with potential to become one of the next significant new uranium developments within a world-class ISL province.”

www.marmotaenergy.com.au