Marmota goes back to the future with Junction Dam uranium acquisition

Back to the Future, 1985, Universal Pictures share

With the increasingly bullish outlook on uranium, timing appears perfect for Marmota (ASX:MEU) to return to its uranium roots with the acquisition of the Junction Dam uranium tenement.

Marmota started out as a uranium explorer and spent more than $8m by 2014 on uranium exploration to earn 100% of the uranium rights on Junction Dam, prior to putting further exploration on ice following Fukushima. Marmota has subsequently been in the news for its Aurora Tank gold discovery that has been yielding multiple outstanding gold intersections over 100g/t gold over 1m.

With the resurgence of uranium, Marmota has now acquired the entire Junction Dam tenement from Teck Australia, Eaglehawk Geological Consulting and Variscan Mines (ASX:VAR) which ensures that it now has complete control and ownership. The previous tenement owners have received a 5% net profits royalty on production from a future Uranium mine […]

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