Marmota Limited's maiden drilling at Greenewood delivers impressive near-surface gold intersections, reinforcing the project's potential within South Australia's Gawler Craton gold belt.
- Maiden drilling program completed 146 RC holes totaling 15,480m
- Initial assays reveal thick high-grade gold intersections including 24m at 12 g/t Au
- Greenewood lies 35km from Marmota’s flagship Aurora Tank deposit
- 52 assay results still pending, with further detailed sampling planned
- Greenewood part of Golden Moon JV with Marmota holding 90% ownership
Strong Start for Greenewood Drilling
Marmota Limited (ASX:MEU) has announced a promising start to its maiden drilling campaign at the Greenewood gold discovery in South Australia. The initial batch of assay results from 146 reverse circulation holes, totaling over 15,000 metres, has revealed multiple thick, high-grade gold intersections close to surface. Notably, one hole returned 24 metres at 12 grams per tonne (g/t) gold starting from just 20 metres depth, underscoring the potential for economically significant mineralisation.
Strategic Location and Ownership
Greenewood is strategically located approximately 35 kilometres northwest of Marmota’s flagship Aurora Tank gold deposit, itself known for outstanding gold grades and promising metallurgical characteristics. The Greenewood project is part of the Golden Moon Joint Venture, where Marmota holds a commanding 90% interest. This proximity to Aurora Tank offers potential operational synergies and economies of scale that could enhance future development prospects.
Validation of Geological Potential
Prior to drilling, a detailed review by geologist Dr Kevin Wills highlighted numerous open sections and untested mineralisation at shallow depths within Greenewood. The recent assay results validate these geological interpretations, revealing multiple high-grade shoots with lengths surpassing earlier discovery results. This new data suggests a paradigm shift in understanding Greenewood’s mineralisation, with significant upside potential as further assay results from 52 remaining holes are awaited.
Robust Exploration Methodology
The drilling program employed industry-standard reverse circulation techniques, with rigorous sampling and quality control protocols. Samples were composited over 4-metre intervals and assayed using fire assay methods, ensuring reliable and representative data. The company has committed to follow-up detailed 1-metre sampling to refine the geological model and support resource estimation efforts.
Broader Gawler Craton Context
Greenewood is one of several deposits along the so-called “Arc of Six” gold deposits in the northwest Gawler Craton, a region historically underexplored yet highly prospective. Marmota’s ownership of multiple unmined deposits in this belt, including Aurora Tank and Campfire Bore, positions the company well to leverage regional infrastructure and expertise. The company’s executive chairman, Dr Colin Rose, emphasised the strength of the combined portfolio and the exciting potential for low-cost, open-pit gold production in the near future.
Bottom Line?
With high-grade results exceeding expectations and more assays pending, Greenewood could soon reshape Marmota’s growth trajectory in the Gawler Craton.
Questions in the middle?
- How will the pending assay results impact the overall resource estimate at Greenewood?
- What are the next steps for metallurgical testing and economic assessment of the Greenewood deposit?
- Could operational synergies with Aurora Tank accelerate development timelines?