Marmota Ltd (ASX:MEU) has delivered what it describes as one of the most significant gold discoveries in the Gawler Craton in decades, with final 1-metre assays from its maiden drilling program at Greenewood returning exceptional bonanza-grade gold over a strike approaching 1 kilometre. The company confirmed individual grades up to 109 g/t gold, alongside thick continuous zones from near surface — including 33 metres at 10 g/t gold from 22 metres in hole 25GWRC046.
The detailed 1-metre splits — reassayed using specialised methods after exceeding laboratory detection limits — outline a well-defined corridor of high-grade shoots. Highlights include 95 g/t gold at 22 metres, 109 g/t gold at 26 metres in hole 25GWRC046, and 94 g/t gold at 66 metres in hole 25GWRC099.
Across the program, Marmota recorded nine intersections above 20 g/t and 28 above 10 g/t, with several high-grade results occurring between 17 and 31 metres below surface. Thick intervals include:
- 33m at 10 g/t Au from 22m (25GWRC046)
- 2m at 5.1 g/t Au from 49m (25GWRC099)
- 11m at 4.5 g/t Au from 21m (25GWRC101)
- 18m at 3.2 g/t Au from 21m (25GWRC112)
Greenewood – Detailed 1m splits Plan Overview Projection to surface.
Plan and section views released by the company show a dense spread of high-grade assay points with strong strike continuity, supporting comparisons to the early days of the Challenger discovery.
Expanding scale and continuity across the system
The July–August 2025 maiden program comprised 146 reverse-circulation holes for 15,480 metres, expanding Greenewood into a coherent mineralised system nearly 900 metres long. The gold zone appears near-continuous along strike and remains open in both directions.
Geologically, the mineralisation sits within the Christie Domain of the western Gawler Craton, hosted in Archaean meta sediments and banded iron formations. Sectional views show consistent high-grade zones at both the southern and northern ends of the trend, indicating multiple shoots with meaningful vertical extent.
Stage 2 drilling, which began in November, aims to test strike extensions and additional shallow positions identified in a 2025 geological review. That review highlighted numerous untested gaps and shallow targets left unresolved after drilling ceased in 2018 for non-geological reasons. The latest assays strongly validate those targets.
Strategic position in Marmota’s ‘Arc of Gold’
Greenewood sits within the Golden Moon Joint Venture (Marmota 90%) and is strategically located 35 kilometres northwest of Aurora Tank and 30 kilometres northeast of the former Challenger mine. It forms a key part of Marmota’s broader “Arc of Gold” — a cluster of aligned gold systems including Aurora Tank, Campfire Bore, Golf Bore, Mainwood and others.
Location of Greenewood and Golden Moon JV deposits adjacent to Marmota’s flagship Aurora Tank deposit.
Aurora Tank continues to deliver outstanding high-grade intersections with encouraging metallurgical recoveries, positioning it as a potential low-capex, heap-leach operation. Greenewood’s proximity to Aurora Tank strengthens the economic case for shared development pathways and processing synergies across Marmota’s Gawler Craton footprint.
Location of Greenewood, the Gawler Gold Belt and Marmota’s gold deposits.
New growth phase for the project
Marmota says results from the maiden program constitute a “new paradigm” for Greenewood, with grades and thicknesses far surpassing historic drilling. The confirmation of near-surface bonanza grades over long strike lengths positions Greenewood as a standout emerging deposit in the Gawler Craton.
With Stage 2 drilling advancing ahead of schedule and the mineralised system remaining open, the company expects to continue building on what it now calls a spectacular new discovery, with further updates to come as drilling progresses.