Marmota Expands Maiden Drilling at Gawler Project’s Greenewood Gold Deposit to 12,500m
Marmota (ASX: MEU) has expanded its maiden drilling program at the Greenewood discovery within the company’s Gawler gold project in South Australia.
Marmota has upgraded the reverse circulation scope of work from 127 drill holes for 10,000 metres to 139 holes for 12,500m, at average downhole depths of 90m.
A total of 61 holes have already been drilled for 5,108m, with the drilling team currently averaging around 284m per day, and the company expects the campaign will continue for another five weeks.
Golden Moon JV
Featuring more than 2km of strike, Marmota’s Greenewood/Mainwood gold deposit forms part of the Golden Moon joint venture, in which Marmota holds 90% equity through subsidiary Half Moon alongside private company Coombedown Resources.
The deposit is located approximately 30km north-east of the historical Challenger gold mine and 35km north-west of Marmota’s flagship Aurora Tank gold deposit.
Aurora Tank has previously returned multiple bonanza grades of over 100 grams per tonne near surface in five different zones.
‘Economies of Scope and Scale’
Marmota chair Dr Colin Rose said the proximity of the Gawler project to Aurora Tank creates “obvious economies of scope and scale” for the company.
“Our Gawler project is progressing beautifully with our flagship Aurora Tank deposit progressing through production-related studies and our maiden program now underway at the nearby Greenewood deposit,” he said.
“Our aim is to develop a pipeline of adjacent gold deposits as we rapidly grow and expand our Gawler gold project.”
Ministerial Consent
Marmota received ministerial consent in June for the transfer of title relating to Golden Moon tenements EL5998 and EL6569 that include four of the Arc of Six gold deposits along the flanks of a major Y-shaped gravity anomaly in the north-west Gawler Craton.
The Arc comprises the Mainwood, Campfire Bore, Golf Bore and Aurora Tank discoveries (all owned by Marmota) and the Challenger mine, which output over one million ounces of gold for 16 years from 2002.
North-east trending, moderate-to-steeply dipping structures that extend to depth and typically contain high-grade gold mineralisation host the six deposits.