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Marmota’s Gawler Gold Project Gains Momentum as Maiden Greenewood Drilling Set to Begin

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By Imelda Cotton - 
Marmota ASX MEU Gawler Project Maiden Greenewood Drilling
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Marmota (ASX: MEU) is in the final stages of preparation for a maiden drilling campaign at the Greenewood discovery within its Gawler gold project in South Australia that forms part of the Golden Moon joint venture.

The company has planned a reverse circulation (RC) program comprising 127 holes for a total of 10,000 metres to hole depths averaging 79m, the first exploration at Greenewood since 2018.

All regulatory permits have been granted and Marmota’s exploration team – which has been mobilised to site to prepare drill pads, tracks and sumps – expects to commence within the week.

Joint Venture Ownership

Marmota, through its wholly-owned subsidiary Half Moon, received ministerial consent last month for 90% ownership of the Golden Moon tenements including Greenewood through a joint venture with Coombedown Resources.

Greenewood is located 35 kilometres north-west of the company’s flagship Aurora Tank gold discovery, offering obvious economies of scope and scale for the Gawler gold project.

The deposit has been subject to just 8,245m of previous rotary air blast, RC and diamond drilling and Marmota’s new campaign will represent more than double the total number of all RC holes completed by past owners.

Advancing to Plan

Marmota chair Dr Colin Rose said the Gawler project was advancing to plan.

“As our wholly owned Aurora Tank deposit progresses through production-related studies, we are delighted to commence our maiden campaign at the nearby Greenewood discovery,” he said.

“We are working hard to develop a pipeline of adjacent gold assets as we rapidly grow and expand our Gawler project.”

Aurora Tank Intersections

Marmota has previously reported outstanding gold intersections from Aurora Tank, including multiple bonanza gold grades close to surface.

Strong metallurgical recoveries at the project indicate the potential for low-cost, low capex open-pit heap leach gold production.

Dr Rose said underlying gold fundamentals were performing in the company’s favour, with the current gold price sitting approximately three times higher than when Greenewood was last drilled.