Marmota finds near-surface high-grade gold in first Mainwood assays

Mainwood assays reveal a continuous high-grade zone

Marmota Limited (ASX:MEU) has opened the assay book on its first drilling campaign south of the Greenewood gold discovery with a batch of results that includes several high-grade intersections close to surface. The strongest result so far is 4 metres at 15 grams per tonne gold from 24 metres downhole in hole 26MWRC177, forming part of a broader 16-metre interval grading 4.2g/t gold.

A second hole, 26MWRC014, returned 4 metres at 14g/t gold from 32 metres within 20 metres at 3.1g/t. Other results include 4 metres at 13g/t in hole 26MWRC013, 4 metres at 9.4g/t in 26MWRC173 and 4 metres at 8.8g/t in 26MWRC144. Marmota also reported several wider intervals, including 8 metres at 5.2g/t and 8 metres at 5.0g/t.

Only the first 15 sections have been assayed

The results relate to sections 1 to 15 of 84, with drilling still under way across the reported area. Marmota describes the early pattern as an almost continuous high-grade mineralised zone, extending from near surface into fresh rock. That interpretation is based on the plan and section views in the release, rather than on a new mineral resource estimate.

The reported grades come from initial 4-metre composite samples. The intersections are downhole lengths, and Marmota says exact true widths remain unknown, although they are expected to be similar to the reported lengths because the mineralised zones are approximately normal to the hole inclinations. The company applied a 2g/t gold cut-off when reviewing and highlighting the results.

31,000-metre program targets resource growth

Mainwood is part of the Golden Moon joint venture, in which Marmota holds a 90% interest, and sits about 35 kilometres northwest of the company’s Aurora Tank gold deposit. The 2026 Stage 3 program covers approximately 31,000 metres across 320 planned reverse-circulation holes, with completion expected in early October.

The stated objectives are to test northern and southern extensions, grow the resource and increase drilling density sufficiently to support an indicated resource for the Gawler Gold scoping study. Marmota says the Mainwood results already address the southern-extension, resource-growth and drilling-density objectives, while northern extension and depth results are due in a separate announcement.

Assay pipeline becomes the next test

The release is the first in a series of planned assay announcements, so the geological picture remains incomplete. The current results are encouraging for continuity across the tested sections, but they do not establish a mineral resource, reserve, mining plan or economic viability. Further 4-metre composites, potential follow-up 1-metre splits and results from the remaining sections will determine whether the early high-grade pattern holds across the broader Mainwood extension.