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.

A birds-eye view of Marmota Limited’s peak downhole gold grades from 1m intervals at its latest Greenewood deposit in South Australia’s Gawler Craton.

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.

With the underlying gold price nearly triple the A$1680 per ounce it was in 2018 when Greenewood was last explored, the company says it can now revisit historical cut-off grades of 0.5g/t and 0.8g/t gold to aggressively expand the resource

Greenewood’s unveiling comes hot on the heels of Marmota’s decision to fast-track its Gawler gold project this week. The company says it is doubling down at Aurora Tank, where recent bulk leach metallurgical tests confirmed 93 per cent gold recoveries for exceptional bonanza grades, including 4m at 36g/t and 1m intervals soaring as high as 94g/t.

The remarkable results validated a low-cost, low-capex heap leach operation often unseen, where processing of soft-ground ores could pave a swift path to cashflow.

Marmota says it will still be pouring resources into its recent high-grade Muckanippie discovery, where low-cost aircore drilling uncovered titanium-rich leucoxene across a substantial 9km of strike, signalling a second high-potential commodity play that will not break the bank.

With gold prices soaring near record highs around A$5,000/oz, the timing couldn’t be better for Marmota to shine a spotlight on its trove of gold deposits at Gawler. The accelerated programs will no doubt involve plenty of work with the rotary truth diviner at Greenewood and a maiden resource at Aurora Tank in a market hungry for high-grade gold results and potential near-term gold production.

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