Drilling work under way. Source: Gateway Mining
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Gateway Mining (GML) confirms a 700-metre gold zone within its Gidgee gold project in WA
  • The company recently completed aircore drilling which focused on the Julias South and Flametree areas
  • The newly discovered 700-metre oxide gold zone can be found to the south of the Julias target and intercepted four metres of 8.3g/t gold
  • MD Mark Cossom says the 2022 field season at Gidgee is “off to a flyer” and is planning a follow-up reverse circulation drilling program which will also target an MRE update
  • Company shares are trading down 4.76 per cent at one cent at market close

Gateway Mining (GML) has confirmed a shallow gold trend within the Gidgee gold project in Western Australia’s Murchison region.

The company received assays from a recently completed aircore drilling program which focused on the Julias South trend and Flametree target area.

Aircore drilling at Julias is what defined the oxide gold mineralised trend which extends for 700 metres to the south of the Julias target.

Assays from the 700-metre zone at Julias South include four metres at 8.3g/t gold from 56 metres, five metres at 1.9g/t gold from 36 metres, and eight metres at one g/t gold from 40 metres.

Drilling at the Flametree target also returned some high-grade results of three metres at 5.4g/t gold from 51 metres, four metres at 2.5g/t gold from 69 metres, and nine metres at one g/t gold from 64 metres.

Managing Director Mark Cossom said Gateway’s 2022 exploration program at Gidgee is “off to a flyer” with drilling uncovering a 700-metre gold zone at Julias South.

“Together with exciting high-grade results at the adjacent Flametree target, this is emerging as a large-scale mineralised system extending over a total strike length of more than two kilometres – an exciting opportunity to delineate new, shallow resources and grow our overall gold inventory at Gidgee,” Mr Cossom said.

Looking ahead, Gateway Mining is planning a reverse circulation (RC) drilling program to update Gidgee’s existing 449,000-ounce mineral resource estimate.

“With results pending from recently completed systematic RC drilling at Julias and a new phase of RC drilling about to begin, shareholders can look to an exciting period of significant news-flow as we work to grow our existing 449,000-ounce resource and take the Gidgee project to the next level.”

Company shares were trading down 4.76 per cent at one cent at market close.

GML by the numbers
More From The Market Herald
Cavalier Resources (ASX:CVR) - Executive Technical Director, Daniel Tuffin

" Cavalier Resources (ASX:CVR) begins PFS at Crawford

Cavalier Resources (ASX:CVR) has begun a pre-feasibility study (PFS) at the Crawford Gold Project within the…
Ten Sixty Four (ASX:X64) - Outgoing Managing Director, Paul Ryan Welker

" Ten Sixty Four (ASX:X64) terminates services agreement of former MD, Paul Ryan Welker

Ten Sixty Four (ASX:X64) has terminated the executive services agreement of former Managing Director Paul Ryan…

" M3 Mining (ASX:M3M) identifies drill targets at Edjudina

M3 Mining (ASX:M3M) has identified prospective gold-in-soil anomalies at the Edjudina gold project 150 kilometres northeast…

" Good Drinks Australia (ASX:GDA) commences the sale of Molson Coors and Magners

Good Drinks Australia (ASX:GDA) begins to sell the Miller Chill, Miller Genuine Draught, Coors, Molson Canadian…