Marmota Completes Expanded Greenewood Drilling Program at Gawler Gold

Marmota Expands Gawler Gold Project with Completed Greenewood Drilling Program

Marmota Limited (ASX: MEU) has successfully completed its maiden drilling program at the Greenewood gold discovery, significantly expanding the company's footprint in the prolific Gawler Craton. The comprehensive program delivered 146 holes totaling 15,480 metres of reverse circulation drilling, substantially exceeding initial plans of 127 holes and 10,000 metres.

The program represents Marmota's first exploration at Greenewood and the first drilling activity at the site since 2018. Samples are currently being processed with assay results expected in early October, potentially providing significant catalysts for the company.

Strategic Expansion of Marmota's Gold Portfolio

The Greenewood discovery forms part of Marmota's broader Gawler Gold project and is included in the recently formed Golden Moon Joint Venture with Coombedown Resources Pty Ltd. Marmota maintains a commanding 90% ownership in the project through its Half Moon entity.

Strategically positioned approximately 35km northwest of Marmota's flagship Aurora Tank gold deposit and 30km northeast of the Challenger Gold mine, Greenewood represents a key component in the company's growing "Arc of 6 Gold deposits" across the Gawler Craton region.

Compared to the company's more developed Aurora Tank project, Greenewood has seen minimal historical exploration with only 8,245 metres of previous drilling across 126 holes:

This latest drilling campaign nearly tripled the total metres drilled at Greenewood, significantly enhancing the project's exploration database.

Favourable Gold Market Conditions

The company highlighted that current gold market conditions strongly favour development, with gold prices (~A$5,200/oz) approximately three times higher than when the last drilling work was conducted in 2018 (~A$1,600/oz). This dramatic increase in gold prices substantially improves the economic potential of any future gold discoveries at Greenewood.

"This is Marmota's maiden program at Greenewood: it has been executed flawlessly, with excellent drilling rates, expanded twice, and still completed ahead of time. It is generating considerable excitement amongst our exploration team, and we now look forward to receiving assay results."

Dr. Colin Rose, Chairman, Marmota Limited

Understanding RC Drilling: Why It Matters for Gold Exploration

Reverse Circulation (RC) drilling, the method employed at Greenewood, represents a cost-effective technique widely used in mineral exploration. The process involves dual-walled drill rods that drive a pneumatic hammer with a tungsten-steel bit to crush the rock. Compressed air forces the sample up through the inner tube, preventing contamination while providing reliable samples for analysis.

For gold investors, RC drilling offers several advantages:

1. Cost efficiency: Significantly less expensive than diamond drilling, allowing for more extensive programs
2. Speed: Faster drilling rates enable quicker exploration of larger areas
3. Sample quality: Provides good-quality samples for resource estimation
4. Depth capacity: Typically reaches depths of 100-300 metres, ideal for defining near-surface gold deposits

The average hole depth of 106 metres at Greenewood aligns perfectly with the exploration of potential open-pit resources, the most economical form of gold mining.

Marmota's Growing Gawler Gold Portfolio

Marmota's Gawler Gold project has evolved into a multi-deposit operation with several key components:

• Aurora Tank (100% owned): The flagship deposit featuring bonanza gold grades close to surface, excellent metallurgical recoveries, and potential for low-cost, low-capex open-pit heap leach production
• Golden Moon JV deposits: Including Greenewood, located near Aurora Tank, creating economies of scope and scale
• WGCJV gold deposits at Monsoon and Typhoon (MEU: 100% of gold rights)

This growing collection of proximal gold assets creates potential operational synergies that could significantly reduce development costs and accelerate the path to production.

Timeline and Next Steps

Investors should monitor these key upcoming milestones:

• Early October 2025: Expected release of assay results from the Greenewood drilling program
• Ongoing development: Continued exploration and development across Marmota's Gawler Gold project portfolio
• Potential resource estimation: Following successful assay results, a maiden resource estimate for Greenewood could follow

Why Marmota Deserves Investor Attention

Marmota presents a compelling investment case for several reasons:

1. Expanding gold portfolio: The company is systematically building a pipeline of gold deposits in the underexplored Gawler Craton
2. Strategic asset positioning: All deposits are located within proximity to each other, creating potential operational synergies
3. Favourable market conditions: Current gold prices significantly enhance project economics
4. Exploration momentum: The expanded Greenewood drilling program demonstrates the company's confidence in the project
5. Diversified portfolio: Beyond gold, Marmota maintains titanium and uranium projects in South Australia

The successful completion of this expanded drilling program at Greenewood, coupled with the company's established success at Aurora Tank, positions Marmota for potential significant growth as assay results begin to flow in October. With gold trading near historical highs, the company's timing for accelerated exploration across its gold portfolio appears strategically sound.

For gold investors seeking exposure to advanced exploration in a tier-one mining jurisdiction, Marmota's developing story warrants close attention in the coming months as assay results from this substantial drilling program are revealed.

Ready to Uncover Marmota's Next Golden Opportunity?

Discover why Marmota's strategic expansion across the Gawler Craton could deliver significant value for investors. With gold prices at record levels and assay results from the expanded Greenewood drilling programme due in October, now is the perfect time to evaluate this emerging Australian gold story. Learn more about Marmota's growing portfolio of gold assets and investment potential by visiting www.marmota.com.au today.