Marmota Continues to Deliver Outstanding Gold Grades from Greenewood as Gawler Gold Strategy Advances

Marmota (ASX: MEU) has delivered some of the best gold results seen in the Gawler Craton in decades, with maiden drilling at its Greenewood discovery intersecting thick, near-surface zones of high-grade mineralisation across a 900-metre strike.

The results highlight Greenewood’s emergence as a major new discovery within Marmota’s expanding Gawler Gold project area, and reinforce the company’s strategy of developing a cluster of open-pittable deposits in South Australia’s north-west.

Executive chair Dr Colin Rose said the results represent a “new paradigm” for Greenewood and provide the foundation for the company’s next phase of growth across its gold deposits.

Bonanza Grades Define New Discovery

The 146-hole, 15,480m reverse circulation program confirmed near-continuous mineralisation at Greenewood, which sits about 35km north-west of Marmota’s flagship Aurora Tank gold deposit and 30km north-east of the historical Challenger mine.

Among the best results were 4m at 43 grams per tonne gold from 64m, 24m at 12g/t from 20m, and 28m at 6.4g/t from 44m.

The company believes the consistent high grades, coupled with continuity across both ends of the deposit, show clear potential for a large, shallow, open-pit development.

Greenewood sits within the Golden Moon joint venture, where Marmota holds a 90% interest through subsidiary Half Moon.

The project – which received ministerial consent earlier this year – represents the first drilling at the site since 2018.

Strengthening the Gawler Gold Team

During the quarter, Marmota appointed experienced mining executive Paul Richardson as project manager to lead the development of its Gawler Gold portfolio, beginning with Aurora Tank.

Mr Richardson has more than 36 years of experience in mine development and processing, including senior roles at Mount Gibson Gold, Pacmin Mining, and St Barbara (ASX: SBM).

Dr Rose said Mr Richardson’s appointment underscores Marmota’s intent to advance from discovery to production.

“Paul has been engaged with the express purpose of taking our Gawler Gold project to production,” he said.

“His experience across mining and processing operations gives us the capability to unlock the full value of these assets.”

Marmota’s contiguous gold deposits – including Aurora Tank, Greenewood, Campfire Bore, Mainwood, and Golf Bore – provide scope for integrated development and shared infrastructure within a single regional hub.

Titanium Discovery Gains Expert Oversight

Parallel to its gold advances, Marmota continued to progress its titanium discovery at Muckanippie, engaging mineral sands specialist Richard Stockwell of Placer Consulting to oversee geological characterisation and resource development.

Mr Stockwell described the project as one of the most significant new heavy mineral sand discoveries globally.

“The high heavy mineral grade and broad intercept widths place the Muckanippie titanium project among the most exciting new finds,” he said.

Marmota plans to conduct follow-up drilling and metallurgical test work to define the mineral assemblage and assess development options across Marmota’s broader tenement holdings in the region.

Favourable Market Conditions Support Growth

Gold prices climbed sharply during the September quarter, surpassing $6,000 per ounce and trading near $6,300 by quarter’s end, adding further strength to the economics of the company’s near-surface gold deposits, particularly given Aurora Tank’s demonstrated recoveries in prior metallurgical test work.

The company also noted continued improvement in uranium prices and increasing interest in its Gawler and Junction Dam assets.

Marmota’s upcoming priorities include the first detailed 1m assays from Greenewood, maiden resource estimation, and further definition of its titanium mineralisation.

Dr Rose said the results provided the company with strong momentum heading into 2026.

“The potential of our Gawler Gold project continues to grow with every round of drilling—we have an outstanding opportunity and are focused on turning these discoveries into production,” he added.