Marmota Resources has revealed bonanza gold grades in its maiden drilling campaign for the Greenewood deposit in South Australia.
Across two batches of reverse circulation drilling totalling 15,480m, and 146 holes at an average depth of 106m, the company said it had now “clearly delineated a nearly continuous high-grade discovery” along a mineralised zone that extends over 900m in strike.
The latest assays include the hightest 4m intersection ever recorded at Greenewood. That assay showed 4m at 43 grams per tonne (g/t) gold from a 64m downhole.
Other assay results revealed 24m at 12 g/t gold from a 20m downhole, and 16m at 6.5 g/t gold from a 20m downhole.
The drilling campaign is the first at the Greenewood site since 2018, and extends on limited (less than 7000m) reverse circulation drilling campaigns prior to that.
The Greenewood deposit is located around 35km northwest of Marmota’s flagship Aurora Tank gold deposit, and 30km northeast of the Challenger mine. Owned by Barton Gold, this active mine has already produced over a million ounces of gold.
Greenewood, Aurora Tank, and Challenger are part of the ‘Arc of Six’ gold deposits along the flanks of the major Y-shaped gravity anomaly in the NW Gawler Craton. The remaining two deposits, both owned by Marmota, are named Campfire Bore and Golf Bore.
Marmota chairman Colin Rose said Greenewood was yielding some of the best gold results in the Gawler Craton since the discovery of the Challenger deposit.
“The results feature high grades, close to surface, with excellent continuity along strike,” he said.
“[The maiden drilling program] is progressing beyond our best expectations and expanding the mineralisation in every direction.”
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