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Multiple “bonanza” grades and several thick gold intersections have seen Marmota’s (ASX:MEU) maiden drilling at the Greenewood gold discovery at Gawler Craton in South Australia “progress beyond best expectations.”
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“Greenewood is yielding some of the best gold results seen in the Gawler Craton since the discovery of the Challenger deposit,” Marmota’s chairman, Colin Rose, declared to the market early on Thursday.
Excitement is at an all-time high in Marmota’s halls, Dr Rose said. “Greenewood is progressing beyond our best expectations, yielding high grades and thick intersections close to surface, expanding mineralisation in every direction – and with high-grade lodes already displaying form and structure.”
“We now have highly prospective open gaps to fill in and extend out to grow the resource, and we can’t wait to finish the job,” Dr Rose concluded.
The “bonanza” results that have Marmota’s bosses excited included the Greenewood discovery’s highest four-metre intersections to date; four metres at 43 grams per tonne gold from 62 metres downhole in hole 25GWRC099.
The hits formed part of a wider intercept of 28 metres at 6.2g/t gold from 44m, surpassing the previous high of 4m at 38g/t gold reported in early September.
Greenewood lies around 35 kilometres northwest of Marmota’s flagship Aurora Tank gold project and 30 kilometres beyond the historic Challenger gold mine. Marmota already carries a 90% interest in the discovery.
MEU is selling at 6.3cps; it’s already climbed +24% today.
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