Gateway Mining reveals monster discovery at Gidgee
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Special Report: Gateway Mining has made a substantial, wide-spaced, high-grade discovery at its Gidgee project in Western Australia, with one intersect hitting a remarkable 10 metres at 9.2 grams per tonne gold.
The hole was drilled by Gateway (ASX:GML) as part of a reverse circulation drilling campaign designed to test for mineralisation between its cornerstone Whistler and Montague-Boulder deposits at Gidgee.
The area features a 1.6km mineralised trend, and early drilling has intersected mineralisation across a number of significant structures.
Standout assays include 15m at 3g/t gold from 140m and the headline figure of 10m at 9.2g/t gold from 140m in GRC550; as well as 10m at 2.5g/t gold from 114m in GRC538.
Those two holes sit 150m from one another.
The new mineralised structure has been labelled the Lower Zone, below previous wide-spaced shallow drilling, and structures remain open in all directions.
Gateway Managing Director Peter Langworthy said the results highlighted significant mineralisation in the area.
“The quality of these intersections in terms of grade and thickness provide a clear demonstration that we are working on a very significant gold system along the margin of the Montague granodiorite,” he said.
“This is an area with considerable scale potential over a strike length of up to 2km, which already includes the existing resources at Montague and Whistler.
“It is important to reiterate that the thick intercepts in holes 550 and 538 are 150m apart, which shows the size of the structures we are dealing with.
“There is plenty of scope to drill out significant zones of mineralisation between and around those intercepts.”
A number of drilling results are yet to be returned from the current program which is ongoing until the end of the month, and Gateway expects the assays to keep flowing over the next few weeks.
“We consider this to be a major exploration breakthrough for the Gidgee project,” Mr Langworthy said.
The Montague lodes at Gidgee are interpreted as the northern extension of the structures which host the Montague-Boulder mineral resource, and occur moderately dipping in the immediate hanging wall of the Lower Zone about a kilometre south of the resource.
Drill results from this area returned some significant results, including:
These results are complementary to assays released in September, which included 6m at 6g/t gold from 54m in GRC496; and 10m at 1.5g/t gold from 37m in GRC488.
Drilling in this area is typically wide-spaced, at 100m by 80m, and the company will now look to carry out systematic infill to better define the high-grade domains within the broader mineralised structure.
Gateway Mining flagged a resource upgrade at Montague-Boulder in September. Earlier this month, the company announced it had identified the Achilles prospect at Gidgee – a high grade gold target which further enhances the potential of the project.
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.