Marmota Limited’s maiden drilling at Greenewood delivers exceptional high-grade gold assays, including multiple hits over 40 g/t and thick mineralised intersections. The discovery remains open along strike and at depth as Stage 3 drilling advances.
- Multiple intersections exceeding 40 g/t gold
- Up to 21m thick high-grade mineralisation
- Deposit open along strike and at depth
- Stage 3 drilling targeting southern extensions underway
- Greenewood part of Golden Moon JV with 90% Marmota ownership
Outstanding High-Grade Gold Intersections Confirm Greenewood’s Potential
Marmota Limited (ASX:MEU) has revealed a series of stellar gold assay results from its maiden drilling program at the Greenewood discovery in South Australia’s Gawler Craton. The latest detailed 1m split assays from Stage 2 drilling include multiple bonanza-grade hits exceeding 40 g/t gold, with intercepts up to 21 meters thick, confirming a near-continuous, high-grade mineralised system.
Among the standout results are 41 g/t from 82m downhole in hole 25GWRC241, 40 g/t from 84m in 25GWRC249, and 28 g/t from 74m in 25GWRC215. The program has so far yielded six intersections over 40 g/t gold, 18 over 20 g/t, and 55 over 10 g/t, illustrating the deposit’s exceptional grade and scale.
Mineralisation Extends Along Strike and at Depth
The Greenewood deposit is shaping up as one of the most significant gold finds in the Gawler Craton since the Challenger discovery in 1995. Notably, the high-grade zones are developing and extending northeast along strike, with mineralisation remaining open both laterally and at depth. This continuity is evident in the first long-section view of the deposit and sectional cross-sections, which suggest a geometry favourable for open-pit mining.
Stage 3 drilling commenced recently and is focused on southern extensions in an area known as Mainwood, aiming to extend the mineralised strike to approximately 2 kilometres. Early reports indicate the program is progressing well, building on the momentum from the earlier stages. This drilling push is part of a broader strategy to unlock Greenewood’s full potential within the Golden Moon Joint Venture, where Marmota holds a 90% stake.
Greenewood’s Strategic Position and Growth Outlook
Greenewood sits roughly 35km northwest of Marmota’s flagship Aurora Tank gold deposit and about 30km northeast of the Challenger Gold Mine, creating operational synergies and economies of scale. The maiden drilling program has transformed Greenewood from a lightly explored prospect into a robust target with near-surface bonanza-grade gold and thick mineralised intervals, some exceeding 30 meters at 10 g/t or more.
This rapid progress is underscored by the fact that Marmota’s maiden program achieved in six months what took three years at Aurora Tank. The company’s Chairman, Dr Colin Rose, highlighted the pace and quality of discovery despite external challenges such as fuel uncertainty and geopolitical conflicts.
The drilling techniques employed, primarily reverse circulation (RC) drilling with detailed 1m sampling and fire assay analysis, have delivered high-quality data supporting resource estimation and mining studies. Quality control measures, including duplicate sampling and laboratory standards, affirm the reliability of the assay results.
Greenewood’s mineralisation style and geology align with the broader Gawler Gold project, which comprises an arc of deposits along a major gravity anomaly in the northwest Gawler Craton. This regional context, combined with the outstanding grades and continuity demonstrated so far, positions Marmota well for advancing towards resource definition and scoping studies.
The company’s ongoing Stage 3 drilling campaign, targeting the Mainwood extension, follows a major capital raise last year that fuels the aggressive exploration push. The program aims to delineate the deposit’s southern limits and further enhance the project’s scale and economic potential, building on the strong foundation laid by Stages 1 and 2.
These developments come after a series of promising results from Marmota’s other gold deposits in the region, including Aurora Tank, Golf Bore, and Campfire Bore, which collectively contribute to a new paradigm of growth for the company’s Gawler Gold project.
With mineralisation remaining open and the company executing at pace, Marmota’s Greenewood discovery is evolving into a key asset that could reshape the gold exploration landscape in South Australia.
Bottom Line?
Greenewood’s expanding high-grade zones and ongoing drilling suggest a compelling growth story, but precise resource size and economic viability remain to be confirmed.
Questions in the middle?
- How will Stage 3 drilling results impact the overall resource estimate at Greenewood?
- What are the potential timelines and capital requirements for advancing Greenewood towards production?
- How might Greenewood’s proximity to Aurora Tank influence future development strategies and cost structures?