Marmota Launches Maiden Drilling at Greenewood, Doubling Exploration Scope
Marmota Limited has initiated its first-ever drilling campaign at the Greenewood gold discovery, aiming to significantly expand its Gawler Gold project footprint. The program plans 127 reverse circulation holes, potentially reshaping the company’s resource outlook near its flagship Aurora Tank deposit.
- Maiden drilling program commenced at Greenewood gold discovery
- 127 planned reverse circulation holes totaling approximately 10,000 meters
- Greenewood part of Golden Moon JV with 90% ownership by Marmota
- Drilling to continue through July and August 2025
- Gold price environment significantly more favorable than in 2018
Greenewood Drilling Kicks Off
Marmota Limited (ASX – MEU) has officially begun its inaugural drilling program at the Greenewood gold discovery, a key component of its broader Gawler Gold project in South Australia. This marks the first drilling activity at Greenewood since 2018, signaling a renewed focus on unlocking the potential of this underexplored site.
The program is ambitious, with 127 planned reverse circulation (RC) holes designed to cover approximately 10,000 meters. This effort will more than double the existing drilling footprint at Greenewood, which previously comprised just over 8,200 meters across 126 holes of various types. Early progress is promising, with drilling rates averaging over 300 meters per day.
Strategic Importance Within Gawler Gold
Greenewood sits roughly 35 kilometers northwest of Marmota’s flagship Aurora Tank gold deposit and about 30 kilometers northeast of the Challenger Gold mine. It forms part of the Golden Moon joint venture (JV) alongside Coombedown Resources Pty Ltd, with Marmota holding a commanding 90% stake. Recent ministerial consent for title transfers has cleared regulatory hurdles, enabling this drilling campaign to proceed.
The proximity of Greenewood to Aurora Tank offers potential operational synergies and economies of scale, enhancing the overall value proposition of the Gawler Gold project. Aurora Tank itself has demonstrated outstanding gold intersections and metallurgical characteristics, positioning Marmota well for future low-cost gold production.
Favorable Market and Geological Conditions
One of the most compelling aspects of this drilling campaign is the markedly improved gold price environment. The current gold price hovers around A$5,000 per ounce, roughly triple the price when Greenewood was last drilled in 2018. This price uplift significantly enhances the economic viability of any new discoveries and could accelerate project development timelines.
Geologically, Greenewood has seen relatively shallow drilling historically, with many holes not reaching depths sufficient to fully test the deposit’s potential. The new program’s deeper and more extensive drilling aims to address these gaps, potentially revealing higher-grade zones or extensions of mineralisation.
Looking Ahead
Drilling is expected to continue through July and August, with assay results eagerly awaited by investors and analysts alike. Marmota’s executive leadership, including Chairman Dr Colin Rose, has expressed optimism about the project’s trajectory, emphasizing the company’s strategy to build a pipeline of adjacent gold deposits within the Gawler Gold project.
As Marmota advances its exploration efforts, the market will be watching closely to see how Greenewood’s results complement the ongoing development of Aurora Tank and other nearby deposits. The outcome could significantly influence the company’s resource base and future production profile.
Bottom Line?
Greenewood’s maiden drilling could redefine Marmota’s gold resource landscape, with results poised to shape the next phase of growth.
Questions in the middle?
- What initial assay results will reveal about Greenewood’s gold grades and continuity?
- How will the expanded drilling impact Marmota’s overall resource estimates and project economics?
- What synergies might emerge between Greenewood and Aurora Tank in terms of development and production?
