Following a successful A$6 million capital raising, Gateway Mining Limited (ASX: GML) has commenced a new programme of Reverse Circulation (RC) drilling at its 100%-owned Gidgee Gold Project in the Murchison district of Western Australia.
The 2,500m programme is designed to follow-up on recently reported high-grade air-core results from the Julias target, as well as to commence systematic testing of the Kashmir target. Testing of this next generation of targets is consistent with Gateway’s strategy of systematically advancing prospective areas within 5km of its existing Mineral Resources along the margin of the Montague Granodiorite dome.
The programme is expected to take approximately two weeks to complete. The results will be critical in advancing this next generation of targets.
Assay results are also imminent from the RC programme completed in September. This drilling comprised systematic extensional drilling along strike of Achilles North which will be included in the maiden Mineral Resource estimate, as well as holes to test extensions to the mineralisation at the Evermore discovery and the recently identified granodiorite-hosted mineralisation below the Montague-Boulder Mineral Resource.
\Work is continuing on schedule for the update to the Project-wide Mineral Resources, including updated Mineral Resources for the Montague-Boulder and Whistler deposits, and maiden Resources for the Evermore and Achilles North/Airport deposits.
Managing Director, Mark Cossom, said the Mineral Resource update is due to be delivered during December 2021.
“Following our recent A$6 million raising, we are really pleased to have secured an RC rig to undertake a further focused 2,500m programme across two of our next- generation targets at Gidgee to wrap up our 2021 field season,” Mr Cossom said.
“These focused, campaign-style programs have proven to be the most effective and efficient way of advancing exploration, particularly in light of the long turnaround times for assay results at the moment. This program will test two exciting new targets at Julias and Kashmir, with results expected to be available early next year.
“In the meantime, shareholders can look forward to the Project-wide Mineral Resource upgrade for Gidgee. Work on this is well advanced and we expect to deliver the updated Resource within the coming weeks.”
For further information please visit: https://www.gatewaymining.com.au/
