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Gateway Mining (ASX:GML) - Managing Director, Peter Langworthy - The Market Herald
  • 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.


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