Marmota's Greenewood Discovery: Bonanza Gold Grades Fuel Open-Pit Mining Potential
Marmota Limited (ASX: MEU) has made a remarkable gold discovery at its Greenewood project in South Australia's Gawler Craton. The find features bonanza grades, suggesting potential for economical open-pit mining operations.
The mineralisation at Greenewood is close to the surface, with many intersections starting at depths of just 20-40 meters. This shallowness suggests potential for low-cost open pit mining with favourable strip ratios. The drilling program has delineated a nearly continuous high-grade gold zone, extending over 900 meters in strike length and remaining open in multiple directions. Marmota has reported exceptional grades, including a 4-meter intersection at 43 grams per ton gold from 64 meters, within a broader 28-meter section averaging 6.5 grams per ton gold. These grades are among the highest seen in the region since the Challenger deposit discovery in 1995. Marmota controls multiple promising gold assets, including Greenewood and Aurora Tank, creating significant strategic value and potential for district-scale development. The company has dispatched samples for detailed assaying, with results expected in approximately one month.
Marmota's Greenewood gold discovery, with its bonanza grades and favourable mining conditions, significantly improves the economics of a potential mining operation. The company's strategic position within the 'Arc of Six' gold deposits and its experienced leadership make it a compelling opportunity for gold investors. Upcoming assay results will further clarify the project's potential.
