Highlights

  • Marmota completed 337 reverse circulation holes totalling 32,085 metres across Greenewood and Mainwood in its 2026 programme.
  • The company reported a combined mineralised strike exceeding two kilometres following northern and southern drilling extensions.
  • Northern hole 26GWRC035 returned eight metres at 11.5 grams per tonne gold from 184 metres downhole.
  • Mainwood hole 26MWRC177 returned 16 metres at 4.2 grams per tonne gold from 24 metres downhole.
  • Remaining composite assays and detailed one-metre results are needed before resource modelling advances.

Marmota Limited (ASX:MEU) explores gold, titanium and uranium opportunities in South Australia, with its Gawler Gold portfolio including the Greenewood and Mainwood prospects. In an announcement dated 26 October 2026, the company reported results from the northern extension of its completed Stage 3 Reverse Circulation Drilling programme. Together with southern results released on 1 October, the findings have expanded the interpreted gold-bearing system, although additional assays and geological assessment remain necessary.

Stage 3 Drilling Expands the Tested Gold Corridor

The 2026 drilling programme comprised 337 holes for 32,085 metres, according to Marmota’s 26 October announcement. Of that total, 110 holes and 13,068 metres were drilled in the Greenewood zone, while 227 holes and 19,017 metres were completed at Mainwood. The programme finished in mid-October, after the September reporting quarter.

Marmota Limited (ASX:MEU) stated that the Greenewood–Mainwood mineralised trend now extends for more than two kilometres, with the known high-grade strike approximately doubled by the latest northern and southern extensions. The company reported gold occurrences from within 16 metres of surface to a depth of 240 metres.

Northern Intercepts and Southern Mainwood Results

The northern results included eight metres at 11.5 grams per tonne (g/t) gold from 184 metres downhole in hole 26GWRC035, including four metres at 15 g/t. Hole 26GWRC034 returned eight metres at 10 g/t from 152 metres, including four metres at 18 g/t. Another hole, 26GWRC016, intersected 12 metres at 4.5 g/t from 132 metres.

At Mainwood, previously reported Stage 3 results included 16 metres at 4.2 g/t gold from 24 metres in 26MWRC177, including four metres at 15 g/t. Hole 26MWRC014 returned 20 metres at 3.1 g/t from 32 metres, while 26MWRC149 recorded 28 metres at 2.1 g/t from 36 metres. These intervals are reported downhole lengths; true mineralised widths were not established in the announcement. The results also principally represent initial four-metre composite assays, meaning detailed one-metre splits may refine the grade distribution.

Resource Work, Ownership and Remaining Uncertainty

Greenewood and Mainwood form part of the Golden Moon joint venture, in which Marmota holds a 90% interest. The prospects are located in the Gawler Craton, about 35 kilometres northwest of the company’s Aurora Tank gold deposit. Marmota Limited (ASX:MEU) has identified Greenewood and Mainwood as components of its wider Gawler Gold planning work, which includes a scoping study.

The company said remaining four-metre composite results and subsequent one-metre assays would feed into its Gawler Gold resource model. It also identified closer-spaced drilling as part of the work needed to support higher-confidence resource classification. An interpreted extension in strike length does not automatically establish additional recoverable ounces, a new resource estimate or commercial Mining feasibility.

Key Insights

Marmota Limited (ASX:MEU) has completed a substantial 2026 drilling campaign and reported gold intersections at both ends of the Greenewood–Mainwood trend. The results broaden the geological picture but remain exploration evidence rather than a completed resource upgrade. Outstanding assays, one-metre sample analysis and resource modelling are the next important steps in assessing the significance of the expanded strike.