Greenewood’s Bonanza Grades Raise Stakes for Marmota’s Gawler Gold Ambitions
Marmota Limited’s maiden drilling program at the Greenewood gold project in South Australia has delivered exceptional bonanza-grade gold intersections, extending a high-grade mineralised zone over 900 metres. The latest assay batch includes the highest 4m gold intersection recorded at Greenewood, underscoring the project’s growing potential.
- Second batch of assays reveals record 4m intersection at 43 g/t gold
- Maiden drilling delineates nearly continuous high-grade zone over 900m strike
- Greenewood located 35km from Marmota’s flagship Aurora Tank deposit
- Marmota holds 90% ownership in Golden Moon JV encompassing Greenewood
- Experienced project manager appointed to advance Gawler Gold Project towards production
Greenewood’s Bonanza Grades Confirm New Exploration Paradigm
Marmota Limited (ASX, MEU) has announced outstanding assay results from the second batch of its maiden drilling program at the Greenewood gold project in South Australia. The highlight is a 4-metre intersection grading 43 grams per tonne (g/t) gold, the highest recorded at Greenewood to date, surpassing previous bonanza-grade hits from the initial assay release in September.
This latest batch of assays, covering holes 95 to 146, not only confirms the presence of exceptional high-grade gold but also reveals thick mineralised intervals close to surface. The drilling has delineated a nearly continuous mineralised zone extending approximately 900 metres along strike, a significant expansion over prior exploration efforts.
Strategic Location and Ownership Bolster Project Appeal
Greenewood sits just 35 kilometres northwest of Marmota’s flagship Aurora Tank gold deposit, a project already noted for its bonanza grades and promising metallurgical characteristics. This proximity offers potential operational synergies and economies of scale, enhancing the commercial attractiveness of the Greenewood discovery.
Greenewood is part of the Golden Moon Joint Venture, where Marmota holds a commanding 90% interest through its wholly owned subsidiary. The area has seen limited drilling historically, with Marmota’s recent program representing the first significant exploration since 2018, and only about 7,000 metres of reverse circulation drilling prior to this year.
A New Chapter for the Gawler Craton Gold Belt
The Greenewood deposit is one of several key gold prospects along the so-called “Arc of Six” within the Gawler Craton, a region with a rich history of gold production including the nearby Challenger Mine. Marmota’s consolidation of multiple unmined deposits in this belt, including Mainwood, Campfire Bore, Golf Bore, and Aurora Tank, positions the company as a dominant player in a highly prospective but underexplored gold province.
Chairman Dr Colin Rose highlighted the significance of the results, noting that Greenewood’s bonanza grades and thick intersections are among the best seen in the region since the Challenger discovery. He praised the geology team’s work and pointed to the clear continuity of high-grade lodes, which now show defined form and structure, setting the stage for further resource growth.
Advancing Towards Production
Complementing the exploration success, Marmota recently appointed Paul Richardson, a seasoned mineral processing engineer with extensive operational experience, as Gawler Gold Project Manager. Richardson’s track record in taking projects into production is expected to accelerate Marmota’s transition from exploration to development, particularly leveraging the low-cost, low-capital open pit heap leach potential demonstrated at Aurora Tank.
With drilling now complete and assay results validating the new geological model, Marmota is preparing further detailed geochemical sampling and planning additional work programs to extend and define the resource. The company’s integrated approach across its Gawler Gold Project portfolio signals a strategic push to unlock value from this prolific gold belt.
Bottom Line?
Marmota’s Greenewood discovery is rapidly evolving from promising exploration to a cornerstone asset, with bonanza grades and strategic leadership setting the stage for the next phase of growth.
Questions in the middle?
- How will Marmota’s upcoming resource estimate quantify the expanded high-grade zone at Greenewood?
- What are the metallurgical characteristics of Greenewood ore compared to Aurora Tank, and implications for processing?
- What timeline and capital requirements will Marmota outline for advancing Greenewood towards production?