Marmota Strikes Bonanza Gold at Greenewood with Exceptional Grades
Marmota Limited (ASX: MEU) has announced exceptional assay results from its maiden drilling program at the Greenewood gold discovery, delivering multiple bonanza-grade gold intersections. These findings significantly enhance the company's growing gold portfolio in South Australia's Gawler Craton. The Marmota Ltd Greenewood gold findings represent a major milestone for the company's exploration efforts in the region.
The second batch of assays has yielded truly exceptional gold grades, including the project's highest recorded intersection of 4m @ 43 g/t gold from 64m downhole. This spectacular result forms part of a wider intercept of 28m @ 6.5 g/t gold from 44m downhole.
These latest results build on the already impressive first batch of assays announced four weeks ago, which included 4m @ 38 g/t gold from 24m downhole (within a broader zone of 24m @ 12 g/t gold).
Stunning High-Grade Results Confirm Major Discovery
The maiden drilling program has now clearly delineated a nearly continuous high-grade discovery at Greenewood along a mineralised zone extending over 900 meters in strike length, with many of the best intersections occurring close to the surface.
"Greenewood is yielding some of the best gold results seen in the Gawler Craton since the discovery of the Challenger deposit. The results feature high grades, close to surface, with excellent continuity along strike, and including exceptional thick high-grade intersections," said Marmota Chairman, Dr. Colin Rose.
Furthermore, the Marmota Ltd Greenewood gold findings have delivered remarkable consistency in gold grades across the deposit, suggesting a robust and potentially economical resource for future development.
Consistent High-Grade Hits Across the Deposit
The drilling program has delivered remarkable consistency in gold grades across the deposit. Standout thick intersections from the program include:
| Intersection | Downhole Depth | Hole |
|---|---|---|
| 28m @ 6.4 g/t gold | from 44m | 25GWRC099 |
| 24m @ 12 g/t gold | from 20m | 25GWRC046 |
| 28m @ 5.6 g/t gold | from 24m | 25GWRC094 |
| 16m @ 6.5 g/t gold | from 20m | 25GWRC101 |
| 16m @ 3.3 g/t gold | from 20m | 25GWRC105 |
What's particularly encouraging is that 12 out of the 17 best thick intersections reported come from the second batch of assays, despite this batch accounting for only approximately one-third of the holes in the program. This suggests the potential for further high-grade mineralisation as exploration continues.
Strategic Location Within Marmota's Gold Portfolio
The Greenewood gold deposit is located approximately 35km northwest of Marmota's flagship Aurora Tank gold deposit and around 30km northeast of the historically significant Challenger Gold Mine, which produced over one million ounces of gold.
This strategic positioning creates obvious economies of scope and scale that significantly enhance the overall value proposition of Marmota's Gawler Gold Project. As a result, the Marmota Ltd Greenewood gold findings take on additional importance within the company's broader regional strategy.
Greenewood is part of the Golden Moon JV, where Marmota holds 90% ownership through its wholly-owned subsidiary Half Moon Pty Ltd.
Understanding Bonanza Gold Grades
Bonanza gold grades, typically defined as ore containing more than 31 grams of gold per ton (more than one troy ounce per ton), are relatively rare in the gold mining industry and can dramatically enhance the economics of a gold project.
These extremely high-grade zones can significantly improve the overall grade of a deposit, potentially reducing the amount of ore that needs to be processed to produce an ounce of gold. This can lead to:
- Lower processing costs
- Reduced environmental footprint
- Improved project economics
- Enhanced cash flow
The presence of multiple bonanza-grade intersections at the Marmota Ltd Greenewood gold findings suggests the potential for high-grade shoots within the broader mineralised system, which could become priority targets in future mining scenarios.
A New Paradigm for Greenewood
According to Marmota, these exceptional results represent a "new paradigm" for Greenewood. Prior to the recent drilling, a review authored by Dr. Kevin Wills identified numerous open sections, open intersections, untested mineralisation at shallow depth, and possibilities for significant extensions.
The results from Marmota's maiden program have validated these concepts, revealing numerous high-grade shoots, some with considerable length, that far exceed the best results from the initial discovery.
Strategic Position Within the Gawler Gold Belt
Greenewood is one of the "Arc of Six" gold deposits along the flanks of the major 'Y'-shaped gravity anomaly in the NW Gawler Craton. This arc includes:
- The Challenger Mine (produced over 1 million ounces of gold)
- Mainwood
- Greenewood
- Campfire Bore
- Golf Bore
- Aurora Tank gold deposits
Remarkably, Marmota now owns all five of the unmined gold deposits in this arc, either 100% or 90%, giving it unparalleled dominance in this prospective gold region. This comprehensive control makes the Marmota Ltd Greenewood gold findings even more significant in the broader context of regional development potential.
Accelerating Path to Production
The company recently appointed highly-experienced mineral processing engineer Paul Richardson as Gawler Gold Project Manager, with the express purpose of advancing Marmota's Gawler Gold projects to production.
Richardson brings significant operational experience, having previously served as Operations Manager for St Barbara Mines, General Manager for Mount Gibson Gold, and General Manager for Pacmin Mining at the Carosue Dam gold mine.
"Paul specialises in taking projects into production and is already making outstanding progress with Marmota," noted Dr. Rose.
This appointment underscores the company's commitment to transitioning from exploration to production, leveraging the exceptional Marmota Ltd Greenewood gold findings to create shareholder value.
Why Investors Should Follow Marmota
Marmota has positioned itself as a dominant player in the Gawler Craton gold district with a multi-deposit strategy that reduces development risk and creates significant operational synergies.
The company now controls every unmined gold deposit within a 10,000 km² area of the Gawler Craton along the Gawler Gold Belt, and has delivered bonanza grades at three of these deposits:
- Aurora Tank
- Campfire Bore
- Greenewood
With shallow, high-grade gold mineralisation at multiple deposits, experienced leadership in both geology and mine development, and a clear path toward production, the Marmota Ltd Greenewood gold findings represent a compelling opportunity for investors seeking exposure to advanced gold exploration in a tier-one mining jurisdiction.
The latest results from Greenewood further strengthen the company's position and highlight the exceptional potential of its growing gold portfolio in South Australia. With an experienced mine developer now leading the charge toward production, Marmota appears well-positioned to transform its gold discoveries into a viable mining operation.
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