New discoveries suggest ‘large, prospective gold system’ at Gidgee, Gateway says
Link copied to
Gateway Mining (ASX:GML) hits shallow, high-grade gold over ~400m as systematic drilling “continues to uncover exciting new growth opportunities” at the +240,000oz Gidgee project.
Results from a major 35,000m drilling campaign at ‘Gidgee’, an emerging large-scale gold system in the heart of WA’s mineral-rich Murchison and Northern Goldfields, are so far very promising.
Drilling between the historic ‘Montague-Boulder’ and ‘Northeast’ open pits has returned several high-grade intersections within a newly defined shallow, steeply-dipping zone of mineralisation, including:
▪ 26 metres @ 2.1g/t Au from 64m, including: 5 metres @ 7.9g/t Au from 76m
▪ GRC671: 4 metres @ 4.5g/t Au from 32m; and 2 metres @ 5.9g/t Au from 11m
This new zone is 400m long and still growing.
In addition to this new high-grade discovery, drilling down-dip of the shallow ‘Northeast’ pit — last mined in 1992 — intersected a significant 9 metres @ 2.6g/t gold from 59m.
These excellent results continue to validate the exploration strategy executed since August 2020, which has now resulted in multiple new discoveries.
These include the exciting ‘Evermore’ prospect between the Montague-Boulder and Whistler open pits, where further assay results are awaited.
“The latest assay results from the recent RC drill program have defined significant new zones of high-grade mineralisation between the historic Montague-Boulder and Northeast open pit pits, outlining a steeply-dipping mineralised position similar to the one we see at Evermore to the north,” Gateway managing director Mark Cossom says.
“The presence of these multiple mineralised orientations is further evidence of the large, prospective gold system that is present along the entire Northwest Margin of the Montague Granodiorite.
This opens up another significant opportunity to target the steeply dipping mineralised positions with appropriately angled RC drilling, particularly as historic drilling of the interpreted structure to the north has been ineffective, Cossom says.
“We are looking forward to receiving more results from the recent RC drilling, which should continue to flow through over the coming weeks – helping to refine the best opportunities for us to advance the Gidgee Project to the next stage.”
This article was developed in collaboration with Gateway, 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.