Marmota (ASX:MEU) said bulk leach extractable gold test work at its Aurora Tank project in South Australia resulted in a 73% increase in assay grade on average to 87 grams per tonne (g/t) grade of gold from 50 g/t grade of gold, according to a Monday Australian bourse filing.
The firm collected the entire sample bag from a depth of 32 meters to 33 meters.
It noted that three of the five samples returned assays above 90 g/t grade of gold.
The firm said it is reviewing results received to date and preparing additional work programs and additional infill and extensional drilling.
The firm's shares rose past 5% in recent trading on Monday and earlier hit their highest since May 2022.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.