The discovery of a significant new zone of mineralisation has solidified Gateway’s belief that its Gidgee project in Western Australia is a large, high-grade gold system.
The zone was intersected in reverse circulation and diamond drilling between the historical Montague-Boulder and Northeast open pits with assays returning hits of 3m grading 11.5 grams per tonne (g/t) gold from 177m in GRC698 and 3m at 5g/t gold from 314m in GDD023.
Gateway Mining (ASX:GML) says this new zone is interpreted as an extensive, moderately dipping structure with a series of steep “Link Structures” that were first identified in recent RC drilling to the south and appear to correspond with extensive lines of historical shafts.
Adding further interest, the results appear to correspond to the previously discovered Gordon’s Lode about 550m to the north below the current resource at Montague-Boulder where drilling returned hits such as 4m at 24g/t gold from 241m and 2m at 5.6g/t gold from 178m.
“We are continuing to build the picture of a high-grade, large scale gold system along the Northwest Margin which represents a huge opportunity for our shareholders,” managing director Mark Cossom said.
“These latest results have returned two outstanding high-grade, high-tenor intercepts approximately 300m apart between the Montague-Boulder and Northeast pits – a fantastic result.”
He added that not only does the gap between the intercepts, as well as down-dip and up-plunge, remain completely open, they also line up almost exactly with the very high-grade mineralisation intersected in the Gordon’s Lode.
With no effective drilling between these two positions, the company clearly believes there is potential for more gold to be found.
“We now have multiple positions along the 2.5km long Northwest Margin where we see a clear opportunity to rapidly delineate potentially economic shallow mineralisation,” Cossom added.
“Once we receive the final outstanding results from the recent drilling, we will undertake a broad strategic review of the entire area to determine the most effective forward pathway to drill out resources and unlock the full potential of the Gidgee Project.”
Gidgee drilling
Gateway’s recently completed RC and diamond drill campaign on the 2.5km long Northwest Margin has already identified the new Evermore prospect to the north, as well as new mineralisation in the 800m strike length between the 120,000oz Montague-Boulder resource and the Northeast open pit.
This area had been largely untested prior to the company’s drilling.
Drilling identified the Link Structures over a strike length of about 500m.
Notably, they remain open along strike and down-dip.
In addition, the GDD023 diamond hole, which was drilled as part of the Western Australian government’s Exploration Incentive Scheme, has illuminated the extensive structurally controlled gold system present along the Northwestern Margin.
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.