Gateway finds potential new high-grade gold zone at Evermore
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New drill results have confirmed the continuity of high-grade mineralisation at the Evermore prospect within Gateway’s Gidgee gold project in WA.
This would typically be a good result, but the drilling also includes a 4m intersection grading 10.1 grams per tonne (g/t) gold from a depth of 132m that is located between historical intercepts of 7m at 11.7g/t gold from 97m and 12m at 5.6g/t gold from 78m.
Where it differs from the other results is that this intersection in GRC635 potentially represents a new mineralised structure that is steeply east-dipping and outside of the targeted moderately west-dipping shear zone.
Gateway Mining (ASX:GML) says this has opened up the potential to delineate high-grade mineralisation at depth at Evermore with the company adding that the majority of reverse circulation drilling to date has only sporadically tested the prospective structure because of its easterly orientation.
Other intersections have further confirmed the consistency of mineralisation within the moderately west-dipping shears, which can be traced over the entire 1.6km strike at Evermore.
While the current phase of drilling has been completed with all samples submitted for assay, a significant number of results – including all diamond core samples – are still pending.
“We are continuing to put the pieces of the geological puzzle in place at the exciting Evermore prospect, where we are continuing to see all the indicators of a major gold system,” managing director Mark Cossom said.
“The combination of these new assays, together with visual observations from diamond drilling, gives us growing confidence that we are getting a lot closer to unravelling the geological code in this exciting area.
“Perhaps even more importantly, the recent diamond drilling has opened our eyes to what appears to be a steeply easterly-dipping structure below the previously delineated west-dipping shear zone.”
He added that five holes were completed at the end of the program to test this interpretation, which if confirmed would open up the potential to delineate high-grade mineralisation at depth over a significant area.’
The drilling was completed as part of a broader RC and diamond drilling program targeting Evermore and other prospective areas of the Northwest Margin target area at Gidgee.
Drilling at Evermore was designed to infill around the significant high-grade intersections from the 2020 RC campaign within the Lower Zone to confirm the company’s geological understanding of the mineralisation controls.
It was also aimed at stepping out from these intersections both along strike and down-dip, testing the newly defined layered mafic-ultramafic intrusion along the margin of the Montague Granodiorite.
Gateway had noted last month an independent review of assay data had indicated that gold present at prospect areas across the Gidgee project are very likely to be free milling at grind sizes typical of conventional Western Australian CIL/CIP treatment plants.
Free milling ore requires only simple crushing, grinding and cyanide leaching without the need for roasting, meaning that capital and processing costs are likely to be much lower.
This article was developed in collaboration with Gateway Mining, 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.