Total
0
Shares
Gateway Mining (ASX:GML) - Managing Director, Peter Langworthy - The Market Herald
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Gateway Mining (GML) has received results from an additional two in-fill reverse circulation (RC) drill holes at the Montague-Boulder Resource
  • Drilling was undertaken to test the continuity of multiple high-grade mineralised areas that have previously been defined
  • Results peaked at 16g/t gold and analysis has outlined a northwest plunging trend of gold mineralisation
  • The company is no preparing for a second major aircore drilling program at the Gidgee Project
  • This program will follow-up on significant results and complete first-pass testing of new targets defined via recent soil sampling
  • Gateway has dropped 9.52 per cent on the market and shares are trading for 1.9 cents each

Gateway Mining (GML) has received results from an additional two in-fill reverse circulation (RC) drill holes within the Montague-Boulder Resource.

Drilling was undertaken to test the continuity of multiple high-grade mineralised areas that have previously been defined.

Results include eight metres at 5.2g/t gold from 124 metres including four metres at 9g/t gold and four metres at 16g/t gold from 69 metres.

The data outlines a northwest plunging trend of gold mineralisation and highlighted the potential for strong continuity.

"The combination of the successful in-fill drilling program together with a review of the structural controls has led us to a significant rethink of the potential of the Montague-Boulder deposit," Managing Director Peter Langworthy said.

"While we were aware of the presence of high-grade gold domains, we now have a much clearer picture of the continuity and significance of these high-grade domains and, more importantly, their growth potential," he said.

RC drilling is continuing to expand on these recent results and the rig will then move to complete a series of traverses between Montague-Boulder and Whistler where up to 6g/t gold has been uncovered.

Gateway Mining is now preparing for a second major aircore drilling program at the Gidgee Project.

This program will follow-up on significant results and complete first-pass testing of new targets defined via recent soil sampling.

Gateway has dropped 9.52 per cent and shares are trading for 1.9 cents each at 12:49 pm AEST.

GML by the numbers
More From The Market Herald

" Legacy Iron Ore (ASX:LCY) extends work at South Laverton Gold Projects

Legacy Iron Ore (LCY) has provided an update of exploration activities at its South Laverton Gold Projects in Western Australia.
Southern Gold (ASX:SAU) - Managing Director, Simon Mitchell - The Market Herald

" Southern Gold (ASX:SAU) begins drilling at Deokon

Southern Gold (SAU) has begun drilling at the Nettle Zone at the Deokon Gold-Silver Project in South Korea.
Kin Mining (ASX:KIN) - Managing Director, Andrew Munckton - The Market Herald

" Kin Mining (ASX:KIN) highlights regional exploration plans in WA

Kin Mining (KIN) has highlighted some drilling plans at a number of deposits located outside of its Cardinia Gold Project (CGP) in Western
Apollo Consolidated (ASX:AOP) - Managing Director, Nick Castleden (right) - The Market Herald

" Apollo Consolidated (ASX:AOP) intersects further gold at Cleo

Apollo Consolidated (AOP) has intersected further widespread gold mineralisation at the Cleo discovery.