Marmota (ASX: MEU) has commenced its first drilling program at the Greenewood gold discovery within the Gawler gold project, located in South Australia. The company reported that drilling crews are making “excellent progress”, advancing at an average rate of 300 metres per day. Marmota is an Australian mining company focused on gold exploration and development. Its flagship project is the Gawler gold project in South Australia.
The drilling program will consist of 127 holes, totaling 10,000 metres, with an average depth of 79 metres per hole. The company anticipates that drilling will continue into August. Dr Colin Rose, Chair, expects the Greenewood campaign will further grow Marmota’s Gawler gold project and help develop a pipeline of adjacent gold deposits.
The Greenewood deposit is part of the Golden Moon joint venture (JV), in which Marmota holds a 90% equity stake through its subsidiary Half Moon, alongside Coombedown Resources. Marmota received ministerial consent in June for the transfer of title relating to Golden Moon tenements EL5998 and EL6569. Greenewood is located approximately 30 kilometres north-east of the historic Challenger gold mine and 35km north-west of Aurora Tank.
The Greenewood deposit was initially discovered by Tyranna Resources (ASX: TYX) in 2016 and divested to Marmota in 2020. Past drilling at the deposit has returned multiple high-grade gold intersections. Marmota aims to develop Greenewood’s potential for low-cost, open-pittable operations, suggesting the company envisions a potentially straightforward and economical extraction process.
