In a groundbreaking first drilling campaign, Marmota Ltd has uncovered a series of high-grade gold intersections at its Campfire Bore project near Coober Pedy, South Australia. Among the standout results is a 4-meter section grading 16 grams per tonne (g/t) of gold from a depth of just 56 meters, affirming the site’s potential for significant resource growth.
Encouraged by the findings, the company has expanded its initial drilling program from 16,500 meters to over 20,000 meters. Marmota’s management is optimistic, with Executive Chairman Dr. Colin Rose stating, “We are delighted to already be finding new high-grade gold extensions in the first stage of our first-ever drilling program at Campfire Bore.”
Other notable results from the campaign, part of the Golden Moon joint venture (JV), include:
- 4 meters at 9.4 g/t gold from 101 meters.
- 4 meters at 9.1 g/t gold from 139 meters.
- A broader 16-meter section averaging 2.7 g/t gold, including a 4-meter interval at 8.6 g/t gold from just 42 meters.
Strategic Potential in a Historic Mining Region
The Campfire Bore site, located 30 kilometers east of Marmota’s flagship Aurora Tank gold project, has not been drill-tested since 2018, when gold prices were significantly lower. The area had been historically underexplored, with previous drilling limited to shallow depths of 20–30 meters.
With gold currently trading above AUD 4,000 per ounce, the newly acquired project is seen as a strategic addition to Marmota’s portfolio. The company envisions Campfire Bore as a strong contender to rival Aurora Tank, particularly given its promising near-surface gold zones extending over a 1.5-kilometer strike length.
Dr. Rose emphasized Marmota’s strategy, stating, “Marmota is progressing a pipeline of gold deposits in the Gawler Craton to follow on after Aurora Tank.”
Building Momentum
The Aurora Tank project has already demonstrated exceptional potential, with recent shallow drilling uncovering high-grade deposits, including intersections of 50 g/t, 34 g/t, and 29 g/t. To date, over 60,000 meters of drilling at Aurora Tank have identified a significant open-pittable resource.
By contrast, the Campfire Bore project has undergone just 10,000 meters of drilling, revealing 109,000 ounces of near-surface gold. Early results from the initial 86 reverse circulation (RC) drill holes at Campfire Bore are fueling Marmota’s aggressive expansion plans, with stage-two drilling already on the horizon.
Towards a Gold Production Hub
Marmota aims to fast-track development at Campfire Bore and the broader Golden Moon JV area, envisioning a gold production hub anchored in the rich Gawler Craton. The combination of shallow, high-grade gold resources across multiple deposits could position Marmota as South Australia’s next low-cost gold producer.
As drilling continues and gold prices remain robust, Marmota’s exploration momentum and resource-building efforts underline its commitment to capitalizing on market conditions and unlocking the full potential of its assets.
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