Marmota unveils bonanza gold at newest Gawler project
Marmota Limited has dropped a flurry of near surface bonanza gold intervals from its Greenewood deposit in South Australia following a review of the deposit which remains untouched since 2018.
The company says its high-grade Greenewood play is one of seven in the sprawling Gawler Craton gold hub crown in South Australia. Located just 35km northwest of the company's flagship Aurora Tank project, Greenewood is shaping up as an underexplored ounce booster, boasting numerous bonanza-grade intercepts from a little over 8000 metres of near surface drilling.
Marmota's internal review at Greenewood was spearheaded by renowned geologist Dr. Kevin Wills—credited with discovering the nearby Challenger gold mine that is now owned by ASX-listed Barton Gold. The review pointed to Greenewood as a vastly underexplored asset with near-surface, high-grade gold with serious potential for a low-cost open-pit mining.
Greenewood has already delivered a string of eye-catching 1m intervals from just 8245m of RC and other drilling. Standout results include intervals as high as 53 grams per tonne (g/t) gold from just 30m, another bonanza 37g/t assay from 48m and several +20g/t intervals all from depths of no more than 41m.
Marmota says its near-surface hits are screaming for resource definition and follow-up expansion drilling considering just how little testing Greenewood has seen.
By contrast, Marmota's flagship Aurora Tank project nearby has seen more than 70,000m of RC drilling, while Greenewood's meager 7,000m of RC in particular suggests its potential is only just starting to be uncovered.
The company says the deposit's 500m of strike remains open in all directions, setting the stage for significant potential resource definition.
The company says it is now finalising drilling programs to grow Greenewood.
Greenewood sits within Marmota's massive 10,000-square-kilometer Gawler hub, forming part of the 'Arc of Six' gold deposits along a regional gravity anomaly alongside the company's Aurora Tank, Mainwood, Campfire Bore, Golf Bore and Barton's Challenger deposit. Marmota holds all five of the unmined deposits in the region, cementing its foothold in a gold-rich area overlooked for production potential.
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