GREENWOOD HITS KEEP GROWING FOR MARMOTA

High-grade Stage 2 assays return gold grades above 40g/t as drilling expands the Greenewood discovery in South Australia’s Gawler Craton.

Marmota Limited (ASX:MEU) has reported a new batch of high-grade gold assay results from Stage 2 drilling at its Greenewood discovery in South Australia’s Gawler Craton, with multiple intersections returning bonanza-grade gold and mineralisation remaining open along strike and at depth.

The latest detailed 1m split assays follow earlier 4m composite results and include dozens of high-grade intercepts from the maiden drilling campaign at Greenewood.

Among the standout results were:

41g/t gold from 82m downhole in hole 25GWRC241
40g/t gold from 84m downhole in hole 25GWRC249
28g/t gold from 74m downhole in hole 25GWRC215
27g/t gold from 86m downhole in hole 25GWRC210
26g/t gold from 36m downhole in hole 25GWRC208

The company said Greenewood is continuing to deliver some of the strongest gold results seen in the Gawler Craton since the Challenger gold deposit discovery in 1995.

Across Stages 1 and 2 of drilling, Marmota has now recorded:

6 intersections above 40g/t gold
18 intersections above 20g/t gold
55 intersections above 10g/t gold
119 intersections above 5g/t gold

Several broader gram-metre intersections were also highlighted from the combined Stage 1 and Stage 2 programs, including:

33m at 10g/t gold from 22m downhole in hole 25GWRC046
22m at 5.1g/t gold from 49m downhole in hole 25GWRC099
21m at 2.6g/t gold from 22m downhole in hole 25GWRC162
12m at 5.4g/t gold from 19m downhole in hole 25GWRC160
9m at 7.1g/t gold from 82m downhole in hole 25GWRC249

Marmota said a key feature of the latest drilling is the extension of multiple high-grade zones, particularly toward the north-east, supporting the view that the orebody extends in several directions and remains open at depth.

Stage 3 drilling has already commenced and is targeting further major extensions at Greenewood.

Marmota Chairman, Dr Colin Rose, said:

Greenewood just keeps growing and getting better and better with each stage of our maiden program. I am delighted with the results. We have achieved phenomenal speed and progress in developing Greenewood, not just with the outstanding results, but achieving in 6 months what previously took 3 years to drill at Aurora Tank. And even in the face of fuel uncertainty and conflict, we are keeping that pace up, with the new Stage 3 program targeting major extensions already well underway, and progressing extremely well.

And so far, Greenewood keeps expanding with each stage of drilling, and keeps rewarding Marmota and our shareholders with each and every program. It is a very exciting program, a very exciting project, particularly as part of our Gawler Gold project that is yielding bonanza gold grades across multiple adjacent deposits. We are very fortunate to have such great assets, and to have the strongest financial position in the Company’s history and so able to execute and deliver the promise of those assets to our shareholders. The next few months are likely to be some of the most interesting in the Company’s history.