logo-loader
Gateway Mining Ltd

Gateway Mining hits more high-grade gold within Gidgee project

Strong results confirm the presence of a high-grade gold structure down dip of the Montague open pit.

1547443125_Gold-nuggets-shutterstock_635578745.jpg
Potential exists to expand zones of remnant gold mineralisation

Gateway Mining Ltd (ASX:GML) has received high-grade gold results from the Montague deposit of its Gidgee project in WA, confirming growth potential.

A recently completed reverse circulation drilling program was designed to test the down-dip extensions of the Montague Gold deposit.

Shallow, high-grade results

There were strong intersections returned from shallow positions, within 100 metres of the surface.

Key results include 5 metres at 11.5 g/t gold from 104 metres, 2 metres at 5.80 g/t from 75 metres 9 metres at 4.24 g/t from 89 metres and 5 metres at 4.47 g/t from 70 metres.

They show that the mineralised shear zone extends from the immediate base of the historical Montague open pit.

Potential for extensions

There is also clear potential for significant extensions as the deposit remains open down-dip and along strike.

These add to previous results of 7 metres at 3.91 g/t from 70 metres within 15 metres at 2.1 g/t along with 4 metres at 24.1 g/t from 239 metres in the Gordon’s Lode.

READ: Gateway Mining’s high-grade gold results will lead to maiden resource at Gidgee

Gateway’s managing director Peter Langworthy said the pre-Christmas drilling highlighted the opportunity for high-grade mineralisation in the base of the open pit to develop into a highly significant gold system.

“Montague is another example of the type of high-grade gold endowment that we believe exists across the Gidgee project and the drilling results have bolstered our view of the emerging opportunity,” he said.

“Onto something exciting”

“The results clearly indicate that the mineralisation is getting stronger at depth and remains totally open along strike.

“When you consider that we also have a new high-grade discovery in the Gordon’s Lode, in a parallel position to the main sheer zone at depth, it is clear that we are onto something exciting.”

RC drilling to test extensions

A program of step-out RC drilling is planned to test the extensions of the mineralisation, which, subject to permitting, will begin before the end of this quarter.

Langworthy said: “We now also believe that there is serious potential to delineate additional zones of mineralisation in the base of the rest of the open pit.

“Any potential future cut-back will need to be designed to access this mineralisation as well.”

- Jessica Cummins 

 

Quick facts: Gateway Mining Ltd

Price: $0.02

Market: ASX
Market Cap: $28.69 m
Follow

Add related topics to MyProactive

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

NO INVESTMENT ADVICE

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Northern Minerals in strategic discussions with government...

Northern Minerals Ltd (ASX:NTU) CEO George Bauk tells Proactive the Australia-based dysprosium mining company will be talking to government agencies in Washington next week to determine how the company can be a supplier to the United States. Currently, China is the world's most dominant...

1 day, 15 hours ago

3 min read