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The company has been encouraged by its internal review of the prospect’s exploration history. The review uncovered previous third-party drilling results from 2016 and 2017 that included 1m at 53g/t gold from 30m, 1m at 37g/t gold from 48m and 1m at 29g/t from 31m.
A further three holes delivered 1m assaying 23g/t from 24m, 1m at 23g/t from 23m and 1m going 21g/t from 41m.
Previous drilling comprised 12 rotary air-blast holes for 372m, 109 reverse circulation holes for 7109m and five diamond holes for 764m.
Marmota’s new campaign will more than double Greenewood’s current complement of exploration drilling.
Marmota Limited chairman Dr Colin Rose said: “As our flagship Aurora Tank gold deposit progresses through production-related studies, we are delighted to carry out our maiden program at the nearby Greenewood gold deposit. Marmota is developing a pipeline of adjacent gold deposits, as we rapidly grow and expand our Gawler gold project.”
Marmota’s stunningly successful, fully owned Aurora Tank project is 33km east-southeast of the company’s Campfire Bore, Greenewood and Mainwood prospects, which are within its wider Golden Moon joint venture.
The Golden Moon ground also includes the Golf Bore gold prospect, which Marmota has not yet explored.
Together, the four prospects and Aurora Tank appear to occupy an arc of shallow, high-grade gold prospectivity that remains only thinly explored.
Mainwood, 1km southwest of Greenewood, may also hold gold potential. If the current Greenewood drilling program bears fruit, Mainwood would seem assured to soon be subject to Marmota’s attention.
Through its wholly owned subsidiary Half Moon, Marmota also owns all the Typhoon and Monsoon deposits, within the company’s Western Gawler Craton joint venture project.
Marmota is looking at a healthy portfolio of potentially significant gold targets at various stages of evaluation throughout its Gawler Craton tenure.
The company is not letting the grass grow under its feet, with an aggressive campaign of first-pass scout drilling lined up across its new ground to quickly identify targets that warrant early follow-up work.Is your ASX-listed company doing something interesting? Contact: [email protected]
