Montague-Boulder gold deposit about to get a whole lot bigger, Gateway says
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Special Report: Exceptional drill intersections of up to 16g/t gold and a review of the underlying geology prompts Gateway Mining (ASX:GML) to re-evaluate the 120,000oz Montague-Boulder deposit’s massive potential.
Montague-Boulder is a cornerstone deposit at Gateway’s 1000sqkm Gidgee gold project, an emerging large-scale gold system in the heart of WA’s mineral-rich Murchison and Northern Goldfields.
Two ‘in-fill’ drill holes — designed to test the continuity of a number of high-grade gold domains at Montague-Boulder — hit 8m at 5.2g/t from 124m (including 4m at 9g/t) and 4m at 16g/t from 69m.
Anything above 5g/t is generally considered high grade.
“While we were aware of the presence of high-grade gold domains within the broader 120,000oz Inferred Resource, we now have a much clearer picture of the continuity and significance of these high-grade domains and, more importantly, their growth potential,” Gateway managing director Peter Langworthy says.
“As part of ongoing work to upgrade and expand the current Montague-Boulder Resource, we see a significant opportunity to establish a very high-grade, high-value component to the Resource which could be of significant strategic value to Gateway moving forward.”
Importantly, recent analysis of structural data shows this deposit could get a lot bigger.
“The key breakthrough has been understanding the strong north-west plunge to the gold trend and confirmation of both the continuity and quality of the mineralisation within these high-grade domains,” Langworthy says.
“This stockwork-hosted mineralisation is emerging as an important exploration target at the Gidgee Project in its own right as our exploration programs gather momentum.”
The drill rig will continue spinning around Montague-Boulder before some holes are completed between Montague-Boulder and Whistler West, where drilling intersected 6m at 6.0g/t Au from 54m about 1.1km from the Montague-Boulder pit.
Gateway says drilling will continue until the Christmas/New Year break.
“RC drilling is back in full swing, currently underway at Montague-Boulder, before systematically moving along the highly prospective 1.1km to the north,” Langworthy says.
“We are also awaiting results from the recently completed large-scale air-core program.
“Overall, we feel that we are now making great forward strides in terms of our geological understanding of the potential of the Gidgee Project, and we are confident that we will able to generate some exciting results in the weeks and months ahead.”
This story was developed in collaboration with Gateway Mining, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.