Marmota Limited has pushed its Greenewood gold project drilling beyond 20,000 metres in just three months, significantly extending high-grade mineralisation and advancing its maiden scoping study.
- Over 20,000 metres drilled since April 2026
- 188 new RC holes across Greenewood and Mainwood zones
- Drilling extends mineralised strike potential to 2km
- Greenewood/Mainwood part of Golden Moon JV with 90% Marmota ownership
- Maiden scoping study underway to define indicated resource
Drilling Milestone Accelerates Greenewood Resource Growth
Marmota Limited (ASX:MEU) has blasted past 20,000 metres of new reverse circulation (RC) drilling at its Greenewood gold discovery in South Australia, all completed since April 20, 2026. This rapid drilling pace, with 188 holes across the main Greenewood zone and its southern Mainwood extension, marks a step-change in the project’s scale and ambition.
The Greenewood discovery, part of the Golden Moon joint venture where Marmota holds 90%, has already delivered some of the Gawler Craton’s most impressive gold grades since the Challenger deposit was found in 1995. The current program aims to extend mineralisation along strike, potentially doubling the gold-bearing corridor to 2 kilometres, and to increase drilling density to support an indicated resource classification for an upcoming scoping study.
Expanding the High-Grade Footprint to North and South
Drilling has pushed northeast beyond previous maps, indicating the Greenewood zone remains open in multiple directions. Meanwhile, the maiden drilling campaign at Mainwood, the southern extension, is targeting a contiguous high-grade gold zone that has seen only limited historical drilling, less than 4,000 metres of RC holes before Marmota’s recent efforts.
This maiden Mainwood program is particularly notable given the absence of traditional surface calcrete anomalies that typically guide exploration in the region. Greenewood’s discovery without such a surface signature highlights new exploration potential within the Gawler Gold project, which hosts Marmota’s flagship Aurora Tank deposit just 35 kilometres southeast and the historic Challenger Gold Mine about 30 kilometres southwest.
Strategic Positioning Amid Gold Market Volatility
Marmota’s Chairman, Dr Colin Rose, emphasised the company’s strong position to navigate recent gold price volatility, which has been influenced by geopolitical tensions around the Strait of Hormuz. He noted that the high-grade cores typical of Marmota’s deposits, including Greenewood, Aurora Tank, and Campfire Bore, offer operational flexibility. As gold prices fluctuate, the company can adjust mining plans to include or exclude lower-grade halo material, a luxury not afforded by predominantly low-grade deposits.
This adaptability has allowed Marmota to maintain uninterrupted drilling momentum, with no material impact on operational assumptions underpinning the scoping study. The company views the current environment as an opportunity to accelerate resource growth and strengthen its project fundamentals.
Path to Scoping Study and Resource Definition
The drilling density achieved so far is designed to feed into Marmota’s maiden scoping study for the Gawler Gold project, which commenced late last year. With 188 holes drilled out of an originally planned 220, the program is likely to expand further, reflecting the encouraging results and ongoing exploration upside.
While assay results from this latest drilling batch are pending, the company’s previous announcements have revealed bonanza-grade gold intersections exceeding 40 grams per tonne and thick mineralised zones. This drilling campaign is transforming Greenewood and Mainwood from promising discoveries into potentially significant gold resources that could underpin future development.
Bottom Line?
Marmota’s rapid drilling surge at Greenewood is reshaping the project’s scale and resource potential, setting the stage for a pivotal scoping study update.
Questions in the middle?
- How will upcoming assay results influence the size and grade of the Greenewood resource?
- Will the drilling program extend beyond the planned 220 holes to further expand mineralisation?
- How might Marmota leverage proximity to Aurora Tank to optimise future development and production?