Marmota Limited has released a detailed update on its Greenewood Gold deposit, part of its Golden Moon joint venture with Coombedown Resources, emphasizing the promising exploration potential of this asset. The deposit, located approximately 35 km northwest of the flagship Aurora Tank gold discovery, features historical drilling conducted by a previous operator between 2016 and 2017. While earlier work totaled only about 7,000 metres of Reverse Circulation drilling, the technical review completed by Dr Kevin Wills has now been formally presented by Marmota in preparation for its maiden drilling program at Greenewood. The announcement provides technical details that highlight several high-grade gold intercepts close to the surface, with drill results showing notable intervals such as a 1 m intercept at 53 grams per tonne (g/t) gold that is part of a wider 14 m interval averaging 6 g/t, as well as a 1 m intercept at 37 g/t contained within a 22 m interval averaging 4 g/t. Other intercepts include 1 m at 29 g/t within a 5 m interval averaging 10 g/t, 1 m at 23 g/t from two separate drill holes, and 1 m at 21 g/t as part of a 13 m interval averaging 3.4 g/t. These technical indicators, detailed in an updated table within the release, underline the significance and wide extent of the mineralisation, despite the modest historical drilling footprint. Further context is provided on the deposit’s geology and exploration history. Discovered following follow-up drilling from anomalous RAB results dating back to 2003, Greenewood lies along an 500-meter mineralised strike that is open in all directions. With most significant intercepts occurring within 100 metres of the surface, the deposit has considerable room for resource expansion. Additionally, the current gold price of around A$5200, which is triple the level at the time of earlier drilling, provides an attractive economic backdrop that enhances the asset’s value proposition. The release also underscores the strategic proximity of Greenewood to Marmota’s flagship Aurora Tank deposit, offering economies of scale in exploration and potentially low-cost, open pit production opportunities. Marmota’s thorough report encompasses hundreds of pages of cross-sectional analysis and outlines plans for further drilling aimed at testing lateral and depth extensions across this underexplored gold target. From a sentiment perspective, the technical fundamentals and near-surface high-grade intercepts are bullish indicators for investors. The open-ended nature of the mineralisation and significant upside potential due to limited historical drilling add to the optimistic outlook, especially in the context of improved gold prices. On the other hand, the relatively early stage of exploration and the necessity for additional drilling and resource definition studies present a note of caution, leading to a more bearish view for those preferring established deposits with extensive drill histories. Overall, investors are encouraged to weigh the substantial growth potential against the inherent risks of early-stage exploration.