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Marmota Limited ( (AU:MEU) ) just unveiled an announcement.
Marmota Limited has launched a major reverse circulation drilling campaign at its Greenewood gold prospect in South Australia, targeting the Mainwood zone to the south in its first program in this area. The campaign plans around 220 holes totaling roughly 20,000 metres, with the aim of significantly extending the mineralised gold strike to about 2 kilometres as drilling progresses through May and June.
The company highlights that Greenewood has been delivering some of the strongest gold assays seen in the Gawler Craton since the Challenger deposit discovery in 1995, including bonanza grades close to surface and thick high-grade intersections. If the new program successfully extends mineralisation, it could materially enhance Marmota’s resource potential and strengthen its strategic position in one of Australia’s key gold provinces.
More about Marmota Limited
Marmota Limited is an Australian mineral exploration company focused on gold exploration in South Australia’s Gawler Craton. The company is advancing its Greenewood gold discovery, which has delivered high-grade, near-surface results with strong continuity along strike, positioning Marmota as an emerging player in the region’s gold sector.
Average Trading Volume: 2,904,536
Technical Sentiment Signal: Buy
Current Market Cap: A$155M
Learn more about MEU stock on TipRanks’ Stock Analysis page.