ASX:MEU

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Marmota Starts Drilling at South Australia Gold Deposit's Extension

Marmota (ASX:MEU) said a maiden drilling program started in the Mainwood zone, which is the South Australia-based Greenewood gold deposit's extension to the south, according to a Tuesday Australian bourse filing.Greenewood is part of the Golden Moon joint venture, in which Marmota has 90% ownership via its wholly-owned unit Half Moon.The company plans to drill a total of around 220 reverse circulation drill holes for around 20,000 meters.Marmota's shares were up nearly 2% in recent Tuesday trade.

ASX:MEU

Asia63d ago

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

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.

ASX:MEU