Marmota Energy Limited
Marmota Energy listed on the ASX on Wednesday 21 November 2007: code "MEU"
Marmota has been formed to capitalise on, and add value to, the opportunity presented through joint ventures with Monax Mining Limited. Marmota intends to create a South Australian explorer with a clear strategy to add shareholder value in the heart of one of the world’s most prospective uranium regions. Benefiting from the “first mover” advantage created by Monax Mining Limited, Marmota will inherit what it believes to be one of South Australia’s most prospective uranium exploration portfolios.
Since the late 1970s very little exploration for uranium-only resources has been conducted in Australia due to previous unfavourable government policies and market demand leaving open previously identified prospective areas for uranium exploration. Particularly in South Australia, where Marmota has utilised the available information in its tenement selection processes reducing its exploration risk across its stable of tenements, Marmota is in a strong position to employ state of the art exploration methods underpinned by the latest research on palaeochannels and related sedimentary basins.
Marmota’s primary focus is the discovery of large tonnage low operating cost uranium systems. In Australia, these predominantly occur within sandstone-hosted deposits. Deposits of this type, such as the Beverley uranium mine in South Australia, constitute about 18% of world uranium resources and 7% of Australia’s uranium resources. Tenements in which Marmota has an interest are dominated by such potential sandstone uranium hosting tenements.
Marmota’s tenement interests cover in excess of 7,000 square kilometers in the Gawler and Curnamona Cratons. We are currently negotiating to significantly increase the size of these holdings in a highly prospective part of the State.