Greenewood Drilling Yields 44m at 2.3 g/t Gold and 24 g/t Bonanza Grades
Marmota Limited’s maiden drilling program at Greenewood in South Australia reveals bonanza-grade gold and extensive mineralisation, with follow-up drilling set to expand the discovery further.
- Stage 2 drilling returns thick gold intersections up to 44m at 2.3 g/t
- Bonanza grades reaching 24 g/t gold near surface
- Discovery extends beyond previously barren historical drill holes
- Mineralisation remains open in all directions with potential 2km strike extension
- Major follow-up RC drilling program planned for March 2026
A New Chapter in Gawler Craton Gold Exploration
Marmota Limited (ASX: MEU) has delivered a compelling update from its maiden drilling campaign at the Greenewood gold discovery, located in South Australia’s prolific Gawler Craton. The latest assay results from Stage 2 drilling reveal thick, high-grade gold intersections, including a standout 44 metres at 2.3 grams per tonne (g/t) gold and bonanza-grade hits up to 24 g/t. These results not only extend the known mineralised system but also confirm its continuity and openness in all directions, setting a new benchmark for exploration success in the region.
Breaking New Ground Beyond Historical Limits
Significantly, Marmota’s drilling has uncovered substantial gold mineralisation beneath areas previously deemed barren by historical drilling efforts in 2017. By drilling deeper than earlier programs, Marmota has identified thick, rich gold zones along strike to the north-east, highlighting the potential for further extensions. This discovery challenges prior assumptions and underscores the value of modern, targeted exploration techniques in unlocking the Gawler Craton’s hidden potential.
Strategic Location and Synergies
Greenewood sits approximately 35 kilometres northwest of Marmota’s flagship Aurora Tank gold deposit and about 30 kilometres northeast of the Challenger Gold Mine, which historically produced over a million ounces of gold. The proximity of these deposits offers promising economies of scale and scope, potentially streamlining future development and production. Marmota holds a 90% interest in Greenewood through its Golden Moon Joint Venture, positioning the company well to capitalise on this emerging gold corridor.
Looking Ahead: Expanding the Mineralised Footprint
Building on these encouraging results, Marmota plans to commence a major reverse circulation (RC) drilling program in March 2026. The primary objective is to extend the Greenewood mineralisation southwards into the Mainwood area, potentially stretching the strike length to around 2 kilometres. This follow-up drilling will be critical in defining the deposit’s scale and advancing it towards resource estimation and development studies.
A New Paradigm for Greenewood
The maiden drilling program has transformed the understanding of Greenewood, revealing a nearly continuous high-grade mineralised system with multiple bonanza-grade shoots close to surface. These findings represent some of the best gold intersections in the Gawler Craton since the Challenger discovery in 1995. With assay results from detailed 1-metre splits from Stage 2 drilling pending, the market awaits further clarity on the deposit’s quality and economic potential.
Bottom Line?
Marmota’s Greenewood discovery is rapidly evolving, with upcoming drilling poised to unlock its full potential and reshape the Gawler Craton gold landscape.
Questions in the middle?
- How will the pending 1-metre split assay results from Stage 2 drilling influence resource estimates?
- What are the metallurgical characteristics and potential processing pathways for Greenewood ore?
- How might the planned March drilling program impact the timeline for resource definition and development?
