Gateway Mining Hits Strong Zones of Shallow Oxide Gold at Achilles Prospect

THE DRILL SERGEANT: Gateway Mining (ASX: GML) claimed to have defined a sieable zone of shallow oxide gold mineralisation over a strike length of at least 400 metres at the Achilles prospect, part of the company’s 100 per cent-owned Gidgee gold project in Western Australia.

Gateway Mining made the claim on the back of Reverse Circulation (RC) drilling results from the Achilles prospect, which it said had marked a strong start to its recently completed 11,000m RC drilling program.

Results include:

GRC446
21 metres at 2.1 grams per tonne gold from 32m, including 7m at 5.2g/t gold;

GRC447
13m at 3.4g/t gold from 5m, including 3m at 12.5g/t gold;

GRC430
11m at 3g/t gold from 32m;

GRC432
7m at 2.2g/t gold from 60m;

GRC435
6m at 3.8g/t gold from 17m;

GRC437
10m at 3.8g/t gold from 31m;

GRC443
6m at 2.1g/t gold from 22m; and

GRC426
19m at 1.3g/t gold from 29m.

The company said a substantial number of assay results remain outstanding from the program, and are expected to be progressively received and reported over the coming weeks.

“This program of RC drilling is a great starting point for our evaluation of the Achilles prospect,” Gateway Mining managing director Peter Langworthy said in the company’s announcement to the Australian Securities Exchange.

“We have already defined a significant zone of near-surface mineralisation over a strike length of at least 400 metres, including a large component of oxide and transitional mineralisation, and we have significantly improved our understanding of the key controls on the mineralisation which can be applied in a wider context.

“Ultimately though we see the Achilles area as part of a major gold system that requires ongoing systematic programs of exploration.

“Our growing understanding of the controls on the gold mineralisation, combined with the quality of our datasets we now have available to us, means that we are now moving a lot closer towards unlocking the broader potential of this hugely prospective but remarkably under-explored project.

“All of the evidence we are accumulating is pointing towards the potential for a very large gold system on these tenements, and we feel that we are now getting a lot closer to pin-pointing its overall dimensions and identifying the areas of significant economic interest.”

 

Web: www.gatewaymining.com.au