Marmota Limited reveals bonanza-grade gold assays up to 107 g/t from its inaugural drilling at Campfire Bore, highlighting significant high-grade zones and promising extensions.
- 107 g/t gold intersected at 57m depth in previously undrilled area
- Five intersections exceeding 20 g/t gold identified
- Thirteen high-grade intersections over 10 g/t gold including multi-meter intervals
- Stage 1 drilling completed with 86 RC holes totaling 11,690m
- Campfire Bore remains largely open for expansion, especially near surface
Bonanza Grades Confirmed at Campfire Bore
Marmota Limited (ASX: MEU) has delivered a striking update from its maiden drilling program at the Campfire Bore gold discovery in South Australia's Gawler Craton. The company reported detailed 1m split assays from holes 11 to 86 of Stage 1 drilling, revealing a bonanza-grade gold intersection of 107 grams per tonne (g/t) at 57 meters below surface, alongside multiple other high-grade zones.
This exceptional 107 g/t intercept, found in Hole 24CBRC062, marks a significant milestone for Marmota’s exploration efforts, especially as it occurred in an area previously untouched by drilling. The program also identified five intersections exceeding 20 g/t gold and thirteen intervals over 10 g/t, including notable multi-meter widths such as 5m at 12 g/t and 3m at 11 g/t.
Stage 1 Drilling and Geological Context
The Stage 1 program comprised 86 reverse circulation (RC) holes totaling 11,690 meters, representing Marmota’s first-ever drilling at Campfire Bore since previous limited efforts ended in 2018. The drilling targeted the Christie Domain within the western Gawler Craton, a region known for its Late Archaean gold mineralisation. Marmota is focusing on Challenger-style deposits, with Campfire Bore showing promising strike length exceeding 1.5 kilometers and mineralisation open along strike and at shallow depths.
Initial 4m composite assays were reported in December 2024, but the release of high-quality 1m split assays now provides a more precise understanding of the gold distribution and grade continuity. The drilling has already delineated a high-grade southern zone and identified priority open extensions to the south and east, suggesting substantial potential for resource growth.
Strategic Significance and Next Steps
Chairman Dr Colin Rose emphasised the strategic value of Campfire Bore within Marmota’s broader pipeline of gold projects in the Gawler Craton, positioning it as a follow-up to the flagship Aurora Tank discovery. The company’s 90% ownership through the Golden Moon JV with Coombedown Resources Pty Ltd underpins its commitment to advancing this emerging asset.
Looking ahead, Marmota plans to undertake Stage 2 drilling to test the open extensions highlighted by Stage 1 results, including additional holes to follow up on the high-grade intercepts. The company is also reviewing the data to refine its exploration strategy and prepare for resource estimation.
With Campfire Bore’s mineralisation remaining largely open and the presence of multiple high-grade zones near surface, Marmota’s drilling success could significantly enhance its resource base and project pipeline in a highly prospective but underexplored region.
Bottom Line?
Marmota’s bonanza-grade results at Campfire Bore set the stage for a potentially transformative gold resource expansion in 2025.
Questions in the middle?
- How will Stage 2 drilling refine the extent and continuity of high-grade zones?
- What are the implications of these results for Marmota’s overall resource and production timeline?
- Could Campfire Bore emerge as a standalone project or primarily support Aurora Tank’s development?