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Marmota to Launch Maiden Drilling Program at South Australia Gold Project's Mainwood Zone; Shares Jump 4%

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Marmota (ASX:MEU) said a major drilling program is about to start, targeting the Mainwood zone, an extension to the south of the Greenewood deposit at its Gawler Craton Gold Project in South Australia, according to a Tuesday Australian bourse filing.

The company said the reverse circulation drill program comprises about 220 planned holes totaling roughly 20,000 meters, with the potential to extend the mineralized gold strike to two kilometers, the filing added.

Essential diesel fuel supplies for the program have arrived at the site, with Marmota's team having departed Adelaide to prepare pads, tracks, and sumps, and drilling is expected to commence next week, the filing added.

The company's shares jumped 4% in recent Tuesday trade.

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