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Gateway Mining (ASX:GML) - Managing Director, Peter Langworthy - The Market Herald
Managing Director, Peter Langworthy
Source: Boardroom Media
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  • Results from follow up drilling at Gateway Mining's (GML) Gidgee Project in West Australia have yielded a significant gold mineralisation extension
  • Key findings include seven metres at 11.7g/t gold one metre at 9.5g/t gold
  • GML has tipped the new untested zone at Gidgee as its highest priority target with follow up drilling expected to commence in February
  • Gateway Managing Director, Mr Peter Langworthy said the findings provide confirmation that the company has an emerging high-quality gold discovery
  • Gateway shares are up 8.06 per cent on the back of the announcement, trading at 3.4 cents each

Results from follow up drilling at Gateway Mining's (GML) Gidgee Project in West Australia have yielded a significant gold mineralisation extension.

The assay results are from a reverse circulation (RC) drilling program back in November 2020, which targeted a 1.6-kilometre stretch of potential mineralisation between the Montague and Whistler Gold Deposits.

Key findings include seven metres at 11.7g/t gold from 97 metres and one metre at 9.5g/t gold from 124 metres.

The findings build on previous results announced by Gateway, which include 15 metres at 3.0g/t gold and 10 metres at 9.2g/t gold.

GML has tipped the new untested 'lower zone' at Gidgee as its highest priority target, with an along strike mineralisation stretching approximately 220 metres.

According to the explorer, it demonstrates excellent potential for stacked multiple zones of high-grade mineralisation.

In terms of next steps for the project, evaluation is scheduled to commence in mid-February with a follow-up program of RC drilling. A diamond drill rig is expected to arrive at the project at the end of February.

Gateway Managing Director Peter Langworthy said the findings provide confirmation that the company has an emerging high-quality gold discovery.

"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," he explained.

"The next phase of drilling that is scheduled to commence in mid-February will include both RC and diamond drilling and is aimed at delineating the full potential of this position as quickly as possible," he concluded.

Gateway shares are up 8.06 per cent on the back of the announcement, trading at 3.4 cents each at 1:50 pm AEDT.

GML by the numbers
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