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Goldman Maiden drilling in the Mainwood zone returns multiple shallow composite intersections as work continues across 84 sections.
Marmota Limited (ASX:MEU) has reported the first assay results from maiden drilling south of its Greenewood gold discovery in South Australia’s Gawler Craton.
The initial results cover sections 1 to 15 of an 84-section program in the Mainwood zone. Marmota said the drilling had outlined a near-continuous mineralised system extending south of Greenewood, with several shallow, high-grade intervals.
All results in this first release are initial four-metre composite assays. Selected intersections include:
- 16m @ 4.2g/t Au from 24m, including 4m @ 15g/t Au from 24m (26MWRC177)
- 20m @ 3.1g/t Au from 32m, including 4m @ 14g/t Au from 32m (26MWRC014)
- 4m @ 13g/t Au from 28m (26MWRC013)
- 16m @ 2.7g/t Au from 56m, including 4m @ 9.4g/t Au from 64m (26MWRC173)
- 4m @ 8.8g/t Au from 32m (26MWRC144)
Marmota’s follow-up program comprises more than 31,000 metres across about 320 RC holes. Drilling is aimed at testing northern and southern extensions, growing the resource and increasing drill density to support an Indicated resource for the Gawler Gold Scoping Study.
The company said this was the first in a series of planned assay releases. The Greenewood and Mainwood zones form part of the Golden Moon joint venture, in which Marmota holds a 90% interest through its wholly owned subsidiary.
Marmota chairman Dr Colin Rose:
This is Marmota’s maiden drill program to the south of Greenewood (in the Mainwood zone). The discovery of contiguous high-grade gold, so close to surface, first in the Greenewood zone, and now also in the Mainwood zone, is very exciting. It massively extends the strike of the deposit, and it is a wonderful start to the inflow of assays. Today’s announcement reports assay results from sections 1 to 15 (out of 84 sections), it is the first of a series of assay announcements to follow … and we are already achieving all our objectives.
Greenewood/Mainwood keeps expanding with each stage of drilling, and it keeps rewarding Marmota and our shareholders. A key objective of the program is to grow the resource, and to increase the density of drilling to enable an indicated resource that is necessary for the Gawler Gold Scoping study. We are very fortunate firstly to have outstanding assets, and secondly to have the strongest financial position in the Company’s history, the combination of which is enabling us to rapidly execute and deliver the promise of those assets to our shareholders.
