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Marmota Limited (ASX:MEU)

ALERT: Price-sensitive ASX Announcement for MEU
Current share price for MEU : $0.079 0.028 (54.90%)+
Announcement
Release
9 Oct 2025 8:29AM
Price at Release
$0.051
Full Release
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Summary
Marmota Limited announced outstanding results from their maiden drilling program at Greenewood, located in South Australia, with the second batch of assays yielding bonanza gold grades. The program demonstrated high-grade gold intersections, including the highest recorded at Greenewood of 4 meters at 43 g/t gold. The drilling identified a nearly continuous high-grade mineralization zone extending over 900 meters. This program follows the initial batch of assays revealing promising results. Greenewood is part of the Golden Moon JV, with Marmota holding a 90% interest. The program's success highlights Greenewood's potential for expansion and development, complementing Marmota’s other deposits in the Gawler Craton, including the flagship Aurora Tank. The company plans further exploration and development, aiming to transition the discovery into production.
Key Points
  • Greenewood maiden drill program reveals bonanza gold grades.
  • Second batch of assays includes highest gold intersection at Greenewood.
  • Continuous high-grade zone extends over 900 meters.
  • Marmota owns 90% of Greenewood through Golden Moon JV.
  • Proximity to Aurora Tank offers synergies in development.
  • New discoveries exceed initial expectations and highlight expansion potential.
  • Marmota aims to develop and produce from the Gawler Gold Project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.