Could Gateway’s Montague-Boulder be another +5moz King of the Hills?
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Special Report: Drilling has uncovered multiple ‘stacked’ high grade gold lodes below the 120,000oz Montague-Boulder resource. This could be one small part of a larger scale gold system, Gateway Mining (ASX:GML) says.
Montague-Boulder is a cornerstone deposit at Gidgee, an emerging large-scale gold project in the heart of WA’s mineral-rich Murchison and Northern Goldfields.
A recent drilling program — designed to improve confidence in the existing resource and test for ‘repeats’ of the mineralisation at depth — has uncovered multiple new stacked zones of high-grade gold.
These deeper holes hit several high-grade intersections like 5m at 17.4g/t gold from 83m, and 2m at 5.6g/t gold from 178m.
The stacked lodes system shows strong early stage similarities to Red 5’s (ASX: RED) monster 5moz King of the Hills deposit:
Unlike KOTH, only 10 per cent of drilling at Montague goes deeper than 50m.
The upside is clear.
These lower repeat lodes highlight excellent potential to increase the resource at depth, Gateway managing director Peter Langworthy says.
“The results of this drilling have been outstanding, showing that these holes intersected multiple stacked high-grade lodes outside the current resource – a fantastic result,” he says.
“This has reinforced the potential both to increase the size of the Montague resource while also upgrading the resource classification.
“This is another clear indication of the enormous exploration upside at the Gidgee Project, both at our known deposits and more broadly across the project area.
“We are looking forward to receiving the balance of the results from our 2020 drilling, which should give us strong momentum moving into the resumption of exploration next year.”
This article was developed in collaboration with Gateway, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.