Current SP – 3.5c
Shares – 150 m
Options – 29m (variety of expiries and strike prices)
Cash – $2.2m
Market Cap – $5.25m
Western Spur Iron Project
•Western Spur is located north east of Leigh Creek coal mine and railway head.
•Iron ore outcrops located 13 km from the Strzelecki Track, a major arterial road servicing gas fields to the north.
•125 Mt first stage hematite exploration target.
•Grades of iron from outcrop sampling ranging up to 60% Fe.
•Drill testing planned for July 2012.
•100% owned by Marmota Energy.
Melton Copper-Gold Projects
•Significant copper grades intersected in drilling at the Melton copper-gold project on South Australia’s Yorke Peninsula.
•Results include 9 metresat 1.03% copper including 1 metreat 2.25% copper and 0.46 g/tonnegold intersected in drill hole MIRDD08.
•Significant grades of silver up to 112.1 g/tonne with elevated rare earths also returned from assay.
•Broad zone of copper mineralisation extending for at least 1.3 km defined in the partially drill tested Miranda target.
•Miranda target is up to 3kmin length.
•Eight drill holes have been completed at Miranda.
Indooroopilly Project
•A number of ready to drill targets have been identified on the project with strong coincident geochemical and geophysical anomalism for copper and gold.
•The Moonbitarget has been identified as the highest priority target with a magnetic high and coincident gold and copper in calcreteanomalies over a sizeable area covering 5.5km x 4.5km.
•The project is strategically located west of Kingsgate’s Challenger Gold Mine, which produces 100,000oz gold annually.
•Good access to the 570km²tenement is gained along the Challenger Mine road and local station tracks.
•Project awarded funding by the Department for Manufacturing, Innovation, Trade, Resources and Energy (DMITRE).
Aurora Tank Project
•100% owned by MEU
•‘Aurora Tank’ is located north east of Kingsgate’s Challenger Gold Mine.
•Good potential for Archaean ‘Challenger’ style gold mineralisationand covers a prominent magnetic anomaly interpreted as banded iron formation within the Christie Gneiss.
•Calcrete sampling defined a 2200m long zone of anomalous gold.
•Previous drillholes intersected gold mineralisedgneiss, RCAT-8 (4m @ 0.6g/t Au) and RCAT-13 (4m @ 1.6g/t Au).
•Further drill testing planned in late 2012.
Nevada Gold Projects
Angel Wing
•Marmota Energy in strategic partnership with high grade gold producer RameliusResources Limited (ASX: RMS) for gold project generation in the gold fields of Nevada.
•The latest results, from a 15-hole drilling program returned consistent gold intercepts in multiple holes supported by strong silver grades.
•Potential bonanza zones will now be targeted at Angel Wing after successful assay results more than doubled the strike length and increased the depth extent of known gold mineralisation at the Angel Wing project.
•Surface rock chip sampling has returned encouraging assay results up to 3m @ 17.1g/t Au (Ramelius’ check sampling returned 3m @ 25.2g/t Au + 89.2g/t Ag).
•Ramelius’ 1m rock chip samples returned assays up to 57.7g/t Au with coincident elevated silver values (up to 232ppm Ag).
•2011, drill holes gold and silver grades were returned from assay of up to 1.53 Au (g/t) and 147 Ag (g/t).
•The results of the 2011 drilling more than doubled the strike length and increased the depth extent of known gold mineralisation in the DaVinci vein.
•2012 drilling scheduled to commence June.
Junction Dam Uranium JV
•High grades from assay of up to 8142 ppmU3O8, uranium deposit defined with significant expansion potential along a 15 km strike length.
•Adjacent to operating ISL mine, close to Broken Hill.
•Strong positive disequilibrium factor ranging up to 2.2 facilitating an upward revision of Saffron deposit size.
•JV with TeckAustralia, PlatSearch, and EaglehawkConsulting, where Marmotahas earned 87.3%of the uranium rights on Junction Dam.
Maiden Inferred Resource for Saffron
•4.36 million tonnes of mineralisation
•Estimated to contain some 1,510 tonnes of U3O8(3.33 million pounds) with strong positive disequilibrium
•Two mineralised sand layers of the Eyre Formation (basal and upper) intersected
•Average grade 437 parts per million (.044%) eU3O8and 248 parts per million (.025%) eU3O8for the basal and upper layers respectively
•Strong positive disequilibrium ranging between 1.22 and 2.25
•High grade results from assay up to 8142 ppmU3O8from sonic cored holes
2012 drilling results
•Saffron deposit footprint increases to approximately eight times the size of the nearby Honeymoon uranium deposit area.
•Campaign results also confirm contiguous grade continuity with adjoining Bridget deposit on Saffron’s northern boundary, for a total combined strike length of 6.5km.
•Key areas of mineralisation identified at the large scale Yolanda prospect including drill hole YORM028 achieving a significant 5.5 metre intercept of mineralisationwith GT of 0.15 m%eU3O8.
•Further mineralisation inventory at Bridget and Yolanda offering significant expansion potential increasing exploration target for Junction Dam 15Mt to 25Mt @ approx 400 to 700 parts per million (ppm) U3O8, for 10,000t to 15,000t U3O8 or 22Mlb to 33Mlb U3O8~
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