viewGateway Mining Ltd

Gateway Mining’s 24.2 g/t of gold over 4 metres reveals potential new discovery at Gidgee project

The Gordon Lode has been revealed while drilling under the historical Montague open pit.

Gateway believes the Gidgee project has golden potential

Gateway Mining Ltd (ASX:GML) believes a 4-metre intersection grading 24.2 g/t gold from 241 metres indicates the potential for a new high-grade discovery at the Gidgee Gold Project in Western Australia.

The discovery, which will be named the Gordon Lode, was made during a drilling campaign below the historical Montague open pit.

A 9-hole program for 1,398 metres was recently completed aimed at testing the strength and controls of mineralisation below the pit with other high-grade results also returned.

Results ‘add to understanding’

Gateway managing director Peter Langworthy said: “We continue to be excited by the results this drilling program is generating, as well as the key geological information it is providing.

“This allows us to better understand the potential scale of the mineralised system,” he said.

The Gidgee project is in WA’s Mid-West near Ramelius Resources Limited’s (ASX:RMS) (FRA:RRZ) assets in Mt Magnet and Blackham Resources Ltd’s (ASX:BLK) ground in Wiluna.

Shear shows ‘continuity’

The company said the initial results demonstrated that the mineralised Boulder Shear showed strong continuity when targeted beneath the historical open pit and remained open down-dip and along strike.

Other strong results are 15 metres at 2.1g/t gold from 70 metres, including 7 metres at 4 g/t gold; 5 metres at 3.1 g/t from 59 metres; 5 metres at 3.5 g/t from 70 metres and 8.2 metres at 1.4 g/t from 47 metres.

Historical intersections taken at the base of the open pit include 8 metres at 9.8 g/t from 25 metres and 13 metres at 3.1 g/t from 20 metres.

READ: Gateway Mining Calls halt in trade pending gold results

Langworthy said: “The work at Montague is a first-pass that provides confidence that we are starting to understand the key controls on the geology and the associated mineralisation.

“We are now in a position to target this position systematically to gain a full understanding of its greater potential.”

Gordon Lode discovery

He said the company was also excited by what the potential new discovery, Gordon Lode, might evolve into in the future.

The discovery highlights the potential of the wider Montague gold system and the Gidgee project, which had not been explored due to lack of deeper drilling in the area.

Gateway said it was clear there were “multiple mineralised structures with the potential to host high-grade gold mineralisation”.

The company is planning follow-up drilling at the prospect and is awaiting results from the Caledonian prospect where 11 holes for 1,291 metres have been completed.

Quick facts: Gateway Mining Ltd

Price: 0.013 AUD

Market: ASX
Market Cap: $17.42 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Bulls, Bears and Brokers: Alto Capital’s Tony Locantro picks five...

Alto Capital investment manager and stock market commentator Tony Locantro speaks to Proactive about the stock markets reaction to the Dow Jones crash as well as the top five investments to look out for this week.  Locantro also provides his views on the real-estate markets'...

in 21 hours, 12 minutes

3 min read