Marmota Energy has recently entered into a second uranium partnership with Teck Australia Pty Ltd (a subsidiary of major international mining group Teck Resources), with the announcement of an agreement to explore for uranium on the Rudall East project in Western Australia.
The new WA-focused joint venture will give Marmota Energy access to 2,736 square kilometres of uranium-prospective tenements in a well established uranium province. Under the terms of the agreement, Marmota will undertake A$1 million of exploration expenditure over three years to earn a 51% equity interest in the uranium rights across seven adjoining tenements, subject to the satisfaction of Traditional Owner requirements by December 2012.
The Rudall East project covers the eastern extension of the Patterson Orogen, which hosts the nearby Cameco-Mitsubishi JV owned Kintyre uranium deposit, a 56.4M lbs U3O8 inferred resource. It is located in the Rudall River/Paterson area of Western Australia and is a region highly prospective for unconformity and sandstone-hosted uranium mineralisation. Previous exploration over the project includes good quality Airborne Electromagnetic (AEM) survey date, acquired by the Federal Government as part of the 'Onshore Energy Security Program'. The AEM survey has delineated buried palaeochannels and unconformity contacts, both of which are important for uranium targeting in the project area.
Further information on the project will be available soon.