Marmota Ltd (ASX:MEU) has reported further wide, high-grade gold intercepts from its maiden drilling program at the Greenewood discovery in South Australia’s Gawler Craton, with the mineralised system now stretching around 900 metres and remaining open in all directions.
The latest Stage 2 reverse circulation (RC) results include intersections of up to 44 metres at 2.3 g/t gold from 16 metres downhole, including 4 metres at 16 g/t, and 36 metres at 3.0 g/t from 64 metres, including 4 metres at 18 g/t. Other standout results feature 32 metres at 3.2 g/t gold, including 4 metres at 24 g/t, and 20 metres at 4.3 g/t gold from 24 metres downhole.
Greenewood – Plan Overview – Projection to surface
Stage 2 drilling has delivered longer and thicker intersections than Stage 1, highlighting a near-continuous high-grade mineralised system close to surface, Marmota said.
Importantly, recent drilling extended beneath shallow historical holes from 2017 that had returned barren results, with Marmota’s deeper follow-up holes intersecting significant gold mineralisation below those earlier drill depths.
Expansion plans advancing
Greenewood, about 35 kilometres northwest of Marmota’s flagship Aurora Tank deposit, forms part of the Golden Moon joint venture, in which Marmota holds a 90% interest.
Location of Greenewood and Golden Moon JV deposits adjacent to Marmota’s flagship Aurora Tank deposit
A follow-up RC drilling program is scheduled to begin in March, targeting southern extensions in the Mainwood area and potentially extending the strike length of the system towards 2 kilometres.
Marmota said the results represent some of the strongest gold intersections seen in the Gawler Craton since the discovery of the Challenger deposit in the mid-1990s.
Location of Greenewood, the Gawler Gold Belt and Marmota’s gold deposits