Uranium Projects
Junction Dam
Junction Dam is Marmota’s flagship uranium project on the tenement immediately adjacent to the Boss Honeymoon uranium mine, being 1 of only 3 operating uranium mines in Australia. The uranium-bearing palaeochannel starts off on Marmota’s side of the boundary, passes through Marmota’s uranium deposits at Yolanda, Saffron and Bridget, continues to Honeymoon, and then travels again into Marmota’s Junction Dam tenement which bookends both sides of Honeymoon.
Junction Dam already has an Inferred Uranium Resource of 5.4 million pounds (Saffron area) at an average grade of 557 ppm U3O8 and an Exploration Target of 22 to 33 million pounds U3O8. No drilling has been carried out since 2013, more than 10 years years ago. Marmota is excited to be preparing the Junction Dam re-start program, and to be working with uranium expert Mark Couzens in designing the program.
Key Recent Releases
- 17/06/2024 Letter to Shareholders
- 07/03/2024 Huge uranium potential on MEU side of Jasons
- 05/02/2024 Bridget shows enormous uranium potential
- 06/11/2023 Marmota engages Uranium Expert - 6 Nov 2023
Summary of exploration
Ground based geophysical surveys (gravity, electromagnetics – EM) assisted greatly with drill targeting at Junction Dam. These geophysical techniques highlighted the Yarramba Palaeochannel which hosts the uranium mineralisation at Junction Dam.
In total, 222 rotary mud drill holes have been drilled at the Junction Dam project. 11 sonic drill holes have also been drilled. Downhole gamma readings indicating high grade uranium mineralisation hosted within carbonaceous and pyritic sediments of the Eyre Formation are regularly encountered at the project area. Sands of the Eyre Formation offer an ideal environment for sandstone-hosted uranium. The strike length of mineralisation at the project has now extended to approximately 15 kilometres.
Quantitative Evaluation of Minerals by SCANning electron microscopy (QEMSCAN) has been undertaken on mineralised samples from the sonic drilling program. Uranium minerals, uraninite and autinite are confirmed to be present, analogous to the uranium minerals present at Honeymoon. The QEMSCAN studies also indicated that up to 98% of the uranium is potentially leachable.