Gateway Mining Identifies New Gold Corridors

THE DRILL SERGEANT: Gateway Mining (ASX: GML) has identified extensive new regional gold corridors outside of the main gold trend at the company’s 100 per cent-owned Gidgee gold project in Western Australia.

Gateway Mining recently completed a program of reconnaissance aircore drilling, which it claims has identified a series of highly prospective gold corridors that present a major opportunity for new discoveries, particularly shallow oxide gold deposits.

The company has now identified four gold corridors covering a cumulative strike length of approximately 20 kilometres, opening up a major new exploration opportunity within the Gidgee project beyond currently defined resources.

The Flametree prospect is part of an interpreted gold-base metal corridor that has demonstrated potential for near-surface oxide gold.

Recent regional aircore drilling at Flametree intersected shallow oxide gold mineralisation which remains open in all directions, within this broader trend.

Key results include:

5 metres at 10.4g/t gold from 52m;

4m at 3.8g/t gold from 20m;

9m at 1.1g/t gold from 17m;

5m at 3.8g/t gold from 23m;

3m at 3.5g/t gold from 44m;

17m at 0.8g/t gold from 69m, including 11m at 1g/t gold; and

5m at 1.9g/t gold from 39m.

Further aircore drilling to test a coincident gravity-magnetic target at the Ashes prospect intersected ferruginous quartz veining in sandstones, with anomalous results including:

8m at 0.7g/t gold from 24m, including 4m at 1.2g/t gold.

Gateway explained that the AC drilling program was designed to test a number of prospective targets away from the primary Montague Granodiorite intrusion and its associated mineralisation.

While the highly mineralised margins of the granodiorite margin remain a priority focus for upcoming programs of exploration and resource extension, the company is also committed to systematically evaluating the potential of the wider Gidgee gold project.

“While our core strategic focus remains to unlock the significant potential that exists around the margin of the Montague Granodiorite and along strike from the existing Resources, we also see outstanding potential to make new discoveries outside of the main mineralised contact,” Gateway Mining managing director Peter Langworthy said in the company’s announcement to the Australian Securities Exchange.

“The outcomes of the aircore program and our recent regional work has vindicated this belief and highlighted the enormous opportunity to make major new discoveries in completely new areas.

“This supports our view that the Gidgee project forms part of a major gold system and we are now developing a broader pipeline of targets with the potential to deliver a quantum increase in our overall Resource position.

“We are very pleased with the results of this aircore program.

“The results confirm the potential for a major shallow oxide gold system within a series of major structural corridors that have not really ever been systematically tested.

“This presents an outstanding shallow target for cost-effective aircore drilling, which we are planning to resume in parallel with an ongoing process of target ranking and evaluation that will underpin our broader exploration programs for the rest of this year.

“We look forward to presenting the full results of this work in the near future.”