Greenewood’s Bonanza Grades Spur Marmota’s Urgent Drilling Push Amid Market Watch
Marmota Limited is advancing its Greenewood gold project with a substantial Stage 2 drilling campaign following exceptional bonanza-grade results from its maiden program. The upcoming program aims to build on promising early assays that highlight Greenewood’s potential as a key asset in the Gawler Craton.
- Stage 2 drilling to commence with ~85 RC holes targeting 8,500 meters
- Stage 1 results featured multiple 4-meter intersections exceeding 40 g/t gold
- Greenewood located near Marmota’s flagship Aurora Tank deposit
- Marmota holds 90% ownership in Greenewood via Golden Moon JV
- Potential for low-cost open pit gold production supported by metallurgical testwork
Greenewood’s Early Promise
Just a month after unveiling spectacular bonanza-grade gold intersections at its Greenewood discovery, Marmota Limited (ASX, MEU) is gearing up for an ambitious Stage 2 drilling campaign. The maiden program delivered some of the highest-grade gold results seen in the Gawler Craton in decades, with multiple 4-meter intervals exceeding 40 grams per tonne (g/t) of gold. These results have set a high bar and generated considerable excitement about the deposit’s potential.
Stage 2 Drilling, Expanding the Footprint
The upcoming Stage 2 program plans approximately 85 reverse circulation (RC) drill holes, aiming to complete around 8,500 meters of drilling before the Christmas break. Marmota’s exploration team has already mobilized to site, preparing drill pads and infrastructure, with all necessary permits secured. The drill collar plan is being refined as the company awaits detailed 1-meter assay splits from Stage 1, which will guide targeting and help confirm the continuity of high-grade mineralisation.
Strategic Location and Ownership
Greenewood sits roughly 35 kilometers northwest of Marmota’s flagship Aurora Tank gold deposit and about 30 kilometers northeast of the historic Challenger Gold Mine, a prolific producer in the region. Greenewood is part of the Golden Moon Joint Venture, with Marmota holding a commanding 90% stake through its wholly owned subsidiary. This proximity to Aurora Tank offers potential operational synergies, including shared infrastructure and streamlined development pathways.
Economic Potential and Next Steps
Marmota’s Aurora Tank deposit has already demonstrated outstanding gold intersections and promising metallurgical testwork, suggesting the potential for low-cost, open-pit heap leach gold production. Greenewood’s early drilling results, featuring thick, high-grade zones close to surface, could complement Aurora Tank’s resource base and enhance the overall economics of Marmota’s Gawler Craton portfolio. The market will be watching closely for the detailed assay results from both Stage 1 and the forthcoming Stage 2 drilling, which will be critical in defining the scale and grade continuity of the deposit.
Broader Gawler Craton Context
Marmota’s Gawler gold project encompasses a series of deposits forming an arc along a major gravity anomaly in the northwest Gawler Craton. This 'arc of gold' includes several deposits such as Golf Bore, Campfire Bore, Mainwood, and the Challenger Mine, which historically produced over a million ounces of gold. Marmota’s control of these unmined deposits positions it well to capitalize on the region’s underexplored potential, with Greenewood emerging as a key focus in its 2025 exploration strategy.
Bottom Line?
As Marmota embarks on its Stage 2 drilling, the next wave of assay results will be pivotal in confirming Greenewood’s role in shaping the company’s gold production future.
Questions in the middle?
- Will Stage 2 drilling confirm the continuity of bonanza-grade gold zones at Greenewood?
- How will the detailed 1-meter assay splits from Stage 1 influence drilling targets and resource estimation?
- What are the timelines and capital requirements for advancing Greenewood towards production alongside Aurora Tank?