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Importantly, Junction Dam sits in the same paleochannel as Boss Energy’s massive Honeymoon uranium project that features a mineral resource of 36 million pounds grading 660ppm uranium oxide. The Jasons deposit at Honeymoon already hosts a JORC-compliant resource of 6.2 million tonnes at 790ppm for 10.7 million pounds of contained uranium oxide.
Highlights from Boss’ recently-completed drilling program at Jasons, close to Junction Dam, returned a 3m hit at 3221ppm uranium oxide from 105.5m, 6m going 1278ppm from 100.5m and 3.25m grading 1509ppm from 104.5m.
Marmota originally stopped work at Junction Dam in 2014 following the aftermath of the Fukushima disaster in Japan. Now, almost 10 years on, it is confident the time is right to re-evaluate and reignite the operation … and a rising tide behind uranium globally seems to support that theory.
The company has already identified four new, high-priority drill targets to the north, east and south of the Saffron resource where the geology is favourable for uranium mineralisation and is supported by stratigraphic modelling, electromagnetic surveys and gravity images.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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