Marmota (ASX: MEU) has reported final assays from its maiden Greenewood drilling program that confirm multiple bonanza grades close to surface and outline a high-grade mineralised system extending for almost 900 metres along strike.
Standout results from the 1m splits included 95 grams per tonne gold from 22m downhole and 109g/t gold from 26m downhole as part of a 33m interval grading 10g/t gold from 22m downhole, along with 94g/t gold from 66m downhole within a broader 22m interval at 5.1g/t gold from 49m downhole.
The program returned nine intersections above 20g/t gold, with roughly half located between 17m and 27m from surface and the remainder between 28m and 67m from surface, establishing a near-continuous corridor of high-grade mineralisation.
Marmota described the results as among the best seen in the Gawler Craton since the Challenger discovery in 1995.
Laboratory Re-Assay Required
Marmota noted that the detailed assays took longer than expected because several gold values exceeded the upper limits of standard fire assay, and needed to be re-assayed using alternative methods designed for extremely high-grade gold.
The company said the new dataset provides a significantly clearer definition of high-grade shoots across the deposit.
Beyond the bonanza hits, the maiden program returned several thick higher-grade zones, including 11m at 4.5g/t gold from 21m downhole and 14m at 3.8g/t gold from 58m.
Marmota said the maiden results transform the geological model developed earlier by Dr Kevin Wills, confirming multiple open sections, untested shallow mineralisation, and the potential for substantial extensions.
The new intersections far exceed the best results from the brief earlier drilling conducted by previous owners before work ceased in 2018, with the company adding that the emergence of numerous high-grade shoots represents a “new paradigm” for the Greenewood discovery.
Strategic Gawler Gold Arc Position
Greenewood sits approximately 35km north-west of Marmota’s flagship Aurora Tank gold deposit and about 30km north-east of the Challenger mine.
The project forms part of the Golden Moon Joint Venture, where Marmota holds 90% ownership through its subsidiary Half Moon Pty Ltd.
Marmota’s Gawler gold holdings lie along an arc of deposits including Aurora Tank, Golf Bore, Campfire Bore, Greenewood, Mainwood, and areas near the historical Challenger operation.
The company confirmed that Stage 2 drilling, which began on 20 November, is progressing ahead of schedule with the aim of completing as many holes as possible before the Christmas break.
The updated interpretation suggests substantial potential to extend mineralisation beyond the 900m strike already outlined.
