Gateway Mining's (ASX: GML) shares jumped another 23.7% on Friday to close at $0.16 on heavy volume of over 1.5 million shares, as investors await drilling assays.
The value of Gateway has continued to firm recently, and is up from around $0.08 a month ago and $0.05 in July this year.
The pending assays are from a reverse circulation drilling program at its Gidgee project in the Yilgarn Craton of Western Australia, with intersections of massive sulphides returned from a number of holes.
Interestingly, the presence of chalcopyrite throughout large sulphide intersections confirms the company’s opinion that there are very significant copper systems throughout the tenement package.
Gateway's tenements have all the hallmarks of a significant new VMS province, along with existing gold mineralisation throughout the project.
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