Gateway Mining Drills High-Grade Results at Julias to Underpin Impending Resource
THE DRILL SERGEANT: Gateway Mining (ASX: GML) reported “outstanding” new high-grade assay results from in-fill Reverse Circulation (RC) drilling completed within the company’s Gidgee gold project in the Murchison Region of Western Australia.
The drilling was undertaken on the emerging Julias oxide gold deposit and was carried out to provide regular data coverage across the 500 metres of strike length at the main Julias oxide zone.
A total of 46 holes of RC drilling were completed over the Julias discovery, primarily targeting oxide mineralisation within the top 70m with holes designed to in-fill existing RC drilling.
Results included:
GRC796
11m at 6 grams per tonne gold from 58m;
GRC781
4m at 6.1g/t gold from 30m;
GRC811
8m at 3.2g/t gold from 60m; and
GRC845
4m at 4g/t gold from 57m.
“The Julias oxide deposit has rapidly emerged as one of the most exciting new discoveries at the Gidgee gold project,” Gateway Mining managing director Mark Cossom said in the company’s SX announcement.
“The recent in-fill RC program has well and truly lived up to expectations, delivering consistent high-grade results across the currently defined 500 metres strike length of the deposit.
“The oxide mineralisation has been clearly defined and we now have sufficient data to commence work on a Mineral Resource Estimate, which we are aiming to complete later this quarter and add to our overall Gidgee Resource inventory.
“Importantly, we believe that this will represent just the first step at Julias, as the oxide zone has been traced for a further 700 metres to the south-west.
“Detailed RC drilling is required over this extension before we can advance it to resource status, and we intend to progress this work as a priority over the rest of this year.
“The drilling completed at Julias has established this deposit as having potential to make a material contribution to our resource inventory at Gidgee, and we are looking forward to completing the work to make this happen.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: info@gatewaymining.com.au
