Marmota Limited announced that its maiden drilling campaign at the Greenewood gold discovery is progressing very well, with plans now expanded from 10,000 meters to approximately 12,500 meters. The revised program includes 139 Reverse Circulation (RC) drill holes—an increase from earlier plans—and average hole depths are around 90 meters. So far in July, 61 holes totaling 5,108 meters have been completed, with the team averaging around 284 meters per day, and drilling is expected to continue for another four to five weeks. The drilling work is part of a broader strategy to advance the company’s Gawler gold project, which has seen renewed exploration after limited previous drilling at Greenewood since 2018. Located about 35 kilometers northwest of Marmota Limited’s flagship Aurora Tank discovery, Greenewood sits within a complex geological environment that includes adjacent gold deposits from its Golden Moon joint venture with Coombedown Resources Pty Ltd, as well as other promising deposits. The timing is notable with current gold prices around A$5200, nearly three times higher than when earlier drilling occurred, highlighting the improved gold fundamentals. Marmota Limited’s updated plan effectively doubles the number of RC holes historically drilled at the site, as pre-existing drilling had only reached about 8,245 meters across various methods. Detailed illustrations provided in the release show the planned layout of the drill holes, the overall extent of the Greenewood and Mainwood deposits (spanning over two kilometers in strike), and how they relate geographically to nearby projects, including Aurora Tank and Golden Moon. This integrated approach is anticipated to create significant economies of scope and scale within the Gawler gold project complex. Market sentiment regarding this announcement can be viewed from two perspectives. On the bullish side, the expansion of the drilling program and the accelerated pace of work indicate strong operational momentum. The higher contemporary gold prices and the opportunity to significantly expand the RC hole database at Greenewood support a positive outlook for increasing resource quality and potential production returns. On the bearish side, investors may want to keep an eye on execution risks associated with the expanded scope and the inherent uncertainties of exploration drilling outcomes, which may require further capital investments and additional time before commercial production can be realized. Overall, the progress at Greenewood reflects Marmota Limited’s commitment to enhancing its Gawler gold project portfolio, leveraging favorable market conditions and strong technical indicators to support future growth.