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Market:	ASX
Sector:	Oil and Gas Exploration and Production
EPIC:	MEU
Latest Price:	0.06 (0.00%)
52-week High:	0.12
52-week Low:	0.05
Market Cap:	8.46M

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Marmota Energy

Marmota Energy (ASX: MEU) is an integrated precious metal and uranium exploration company with a pipeline of discovery opportunities.

Marmota Energy receives encouraging results from Junction Dam uranium project

Wednesday, November 04, 2009

Marmota Energy Limited (ASX: MEU) has received more encouraging results from current drilling at its new uranium prospect on the Junction Dam uranium project in mid-north South Australia.

More preliminary results were obtained from drill holes completed in the second week of drilling as part of the Company’s broad spaced maiden 25 hole drilling program.

Elevated downhole gamma readings are continuing to be returned from what has been interpreted as Eyre Formation sediments.

The Eyre Formation hosts the nearby Honeymoon Uranium Mine and Beverley Four Mile uranium project to the north of Junction Dam.

Marmota’s maiden drilling program is focusing on the south western part of the project area. Current drilling is focusing on what has been interpreted as the outer bend of the highly prospective Yarramba Palaeochannel.

New gravity surveys completed by Marmota on Junction Dam were successfully used to define a 20 km extent of the Yarramba Palaeochannel. Gravity and radon surveys have assisted greatly in drill hole target allocation.

Marmota Energy also previously intersected multiple occurrences of uranium on its adjacent Mulyungarie project. Two holes in particular intersected what is believed to be the tail of a potential roll front uranium deposit, which is planned to be further tested as part of this current phase of drilling.

On the project, Marmota has the right to earn 51% interest in the uranium rights from Teck Australia Pty Ltd, PlatSearch NL (ASX: PTS) and Eaglehawk Geological Consulting Pty Ltd.

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