The mineralised system presents a clear, high priority exploration target. Pic via Getty Images.
Golden smiles all round after new mineralised zone turned up at Gateway’s Achilles prospect
Mining
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Gateway Mining says recent RC drilling results from the Achilles prospect have highlighted the immense potential of this highly mineralised corridor within the 526,000oz Montague Gold Project in WA.
Strong intercepts of up to 12m at 5.6g/t gold have defined a new, large-scale mineralised zone at Achilles which extends over 150m width and 600m strike length – and has strong potential to add to the existing 99,000oz Mineral Resource at the prospect.
“The new intercepts, which sit to the east of the existing Achilles Resource, define a large, mineralised zone which we believe has excellent potential to add to the existing Resource base at Montague,” Gateway Mining (ASX:GML) MD Mark Cossom said.
Achilles East will now form part of a major push to explore large scale targets in proximity to the existing Montague mineral resource.
Montague prospective for large scale deposits
The current Mineral Resource at Achilles consists of shallow oxide zone mineralisation largely located along strike to the north of the historical Rosie open pit, mined by Herald Resources in 1993.
“The high-grade intercepts we have reported often occur within broader lower-grade intervals of mineralisation which correlate well with historic intercepts along the granodiorite of up to 142m at 0.4g/t Au and 120m at 0.4g/t Au,” Cossom says.
“This suggests that this part of the Montague Granodiorite could become a target for large-scale bulk mineralisation, similar to that seen at major granodiorite-hosted deposits such as Tarmoola/King of the Hills.
“While our strategic focus is on shallow, high-grade deposits, this serves to remind investors that the Montague Project is also prospective for much larger scale gold deposits.
“We will evaluate the potential to pursue this broad-scale style of mineralisation in future drilling campaigns.”
Near-surface extensions a bonus
Notably, drilling has also highlighted immediate near-surface extensions to the existing Achilles oxide deposit, with significant intersections along strike including 9m at 1.0g/t Au from 9m and 6m at 1.0g/t Au from 14m.
“In addition, we have also identified immediate near-surface extensions to the existing oxide deposit at Achilles, highlighting the opportunity to add shallow ounces to the existing 99koz Mineral Resource,” Cossom said.
“The results continue to highlight the Montague Gold Project’s outstanding untapped exploration potential in one of the world’s great gold mining provinces.”
This article was developed in collaboration with Gateway Mining Limited, 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.
