Gateway’s Montague-Boulder gold deposit is poised for growth
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Special Report: Gateway is confident about upgrading the 120,000oz resource at its Montague-Boulder gold deposit after infill drilling returned consistent high-grade results.
Notable results such as 6m grading 6.2 grams per tonne (g/t) gold from a depth of 96m and 3m at 9g/t gold from 62m confirm the continuity of high-grade mineralisation and complements previous drilling that identified potential for “repeats” of mineralisation at depth.
Additionally, Gateway Mining’s (ASX:GML) reverse circulation drilling on the northern and southern flanks of the deposit have returned significant hits such as 5m at 6.9g/t gold from 67m about 100m south of the existing resource and 3m at 3.7g/t gold from 88m about 160m south of the resource.
These results are consistent with the company’s interpretation of a continuously mineralised, moderately dipping shear zone along the north-western margin of the Montague Granodiorite Dome.
Managing director Peter Langworthy says the results at Montague-Boulder delivers on the “big picture” potential of the Gidgee gold project in the heart of WA’s mineral-rich Murchison and Northern Goldfields.
“Step-out drilling to the south has delivered significant high-grade intercepts up to 160m south of the current 120,000oz mineral resource boundary, demonstrating the clear potential for the resource to grow further in this area,” he added.
“Importantly, the location and orientation of these new zones is entirely consistent with our emerging interpretation of a continuously mineralised, moderately dipping shear zone along the Northwest Margin, which we also saw in the significant Lower Zone discovery made late last year some 1.1km to the north of the current resource.
“We believe we now have a much better handle on what controls the mineralisation along this prospective horizon, which should help us to target the next phase of drilling.”
He added that the infill drilling results will support an upgrade of a portion of the current inferred resource when the Montague-Boulder resource is recalculated.
Gateway is currently waiting on final assay results from the last phase of drilling under the November 2020 RC campaign that followed up on significant intersections returned from the Lower Zone within the Northwest Margin about 1.1km north of the Montague-Boulder Resource.
Once these results are received, the company will launch a major new program of RC and diamond drilling across the Northwest Margin in February.
RC drilling will target further increases in the mineralised footprint identified on the Northwest Margin while four deep diamond holes will generate important lithological as well as structural geology data around the Montague Granodiorite Dome.
The diamond drilling is part funded by the Western Australian government’s Exploration Incentive Scheme.
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.