Gateway Mining (ASX: GML) has confirmed it will target step-change discoveries across the Montague gold project in Western Australia as part of a new exploration push over the coming 12 months.
The company’s 2023 program aims to accelerate the growth of Montague’s 526,000 ounce resource inventory across the 1,000 square kilometre tenement package.
The upcoming exploration is well funded by a $2.5 million capital raise from investors, including $210,260 being taken up by Gateway’s directors.
A major project-wide structural and geochemical compilation and targeting study is currently underway with the help of Perth-based consultancy Model Earth.
The study will be geared towards understanding key controls and relationships between the existing deposits, as well as unearthing major new discoveries.
More intensive exploration will target prospective zones below existing mineral resources, with geophysical seismic surveys to be used to focus deep diamond drilling.
Gateway said it expects to generate new target regions where untested historic intersections include 4m at 10 grams per tonne gold from 32m, 12m at 1g/t gold from 76m, and 11m at 4.5g/t gold from 58m.
Other results included 22m at 2.3g/t gold from 61m, 13m at 2.2g/t gold from 50m, 9m at 2g/t gold from 21m, and 23m at 1g/t gold from 41m.
Ambitious plan
Gateway managing director Mark Cossom said the ambitious plan will explore existing large-scale targets and identify highly prospective unexplored discoveries.
“We are moving into an exciting new phase of exploration activity at Montague which builds on the discovery success and knowledge we have gained over recent years,” he said.
“Part of our efforts will be geared towards continued building of our shallow resource inventory while also broadening our approach across the entire tenement package to undertake programs aimed at unlocking what we believe to be significant potential for ‘step-change’ discoveries.”
The program of works will include continued exploration for shallow oxide zone deposits, including a follow-up on recent reverse circulation drilling at the Caledonian and Achilles East prospects, commissioning of a seismic survey to enable understanding of key mineralised structures below current deposits, and large-scale geochemical and scout drilling programs to test new targets generated across the broader tenement package.
Near-surface mineralisation
Gateway’s exploration activities at Montague since 2018 have demonstrated the presence of significant near-surface gold mineralisation.
The company has established mineral resources below historic open pits from the early 1990s at Montague-Boulder and Whistler, and made several new discoveries in the local area around the Montague Granodiorite intrusion.
“Remnant resources around the historic pits and new discoveries show that the Montague project is part of a major gold mineralised system with significant potential for growth,” Mr Cossom said.
“If we are successful , we hope to be able to position Gateway for a rapid acceleration of resource growth against the backdrop of a favourable outlook for the gold sector.”
