Gidgee is shaping up into a game-changing gold play for Gateway

Special Report: Gateway’s Gidgee project is looking like a potential game changer after follow-up drilling extended thick, high-grade gold mineralisation by 70m to the south.

This is clearly highlighted by the top intersection of 7m grading 11.7 grams per tonne (g/t) gold from a depth of 97m that follows up on previous drilling to the north that also returned high-grade gold.

With the new intersection, Gateway Mining’s (ASX:GML) drilling has now defined mineralisation over a strike of about 220m. But there is still room to grow as both the northern and southern ends remain open.

Better – the dual intersections at hole GRC550 in the north also demonstrate that there is potential for stacked zones of gold mineralisation to occur where shear zones intersect the ultramafic unit.

“We now have better understanding of the controls on the high-grade gold mineralisation, and we see clear potential for multiple stacked lodes both within and adjacent to this newly recognised ultramafic intrusion,” managing director Peter Langworthy said.

“The quality of these intersections in terms of grade and thickness clearly demonstrates that we are working on a very significant gold system along the margin of the Montague Granodiorite.

“While its size potential will ultimately depend on the width of the key ultramafic unit, which will naturally pinch and swell along strike, we see outstanding potential to define shallow ounces very quickly.”

Next steps

Gateway will mobilise a reverse circulation rig to Gidgee to start drilling in mid-February.

This will focus initially on the Lower Zone of the Northwest Margin before moving in a staged manner to test the highly prospective contact zone south of Montague over an approximate 800m strike length and then onto the Achilles Prospect.

The company will also carry out diamond drilling from late February to provide detailed information on the stratigraphy and structure in this position.

It will then drill a series of stratigraphic diamond holes that are partly funded by the state government’s Exploration Incentive Scheme grant.

Subject to results from this follow-up drilling, the company expects to move onto full-scale drilling to define resources in the coming months.

Results are also pending for a further three RC holes that were completed as a first-pass test of one of the targets generated from the aircore drilling program.

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.