Gateway Mining Hits Project Record Gold Returns with Sampling at Yandal
Gateway Mining (ASX: GML) has expanded its recently acquired Yandal gold project in Western Australia with new sampling results returning a project record of 24.4 grams per tonne.
The recent exploration work has also uncovered a significant soil anomalism across an unexplored portion of the great western splay structure at Yandal.
The new results from initial first-pass soil and lag samples have successfully mapped a 3.5-kilometre-long primary mineralised trend adjacent to the Great Western intrusion and along a recently identified shear structure.
Further Sampling Planned
Gateway is undertaking additional programs at Yandal covering a further 2,000 soil locations, with the first follow up program now complete and another program to commence next week.
The new sampling work will assess the potential to connect the new anomalism to the south-east and the Horse Well gold camp.
Gateway is also expecting results of an induced polarisation survey at the Dusk ‘til Dawn prospect in the coming weeks, and has completed gravity surveying at Great Western with inversion modelling of the data currently underway.
High-Grade Potential
Executive chair Andrew Bray said the program – the first proper sampling conducted along the Great Western splay corridor – had found that mineralisation remained open in multiple directions.
“These results also make it clear that previous drilling at Great Western was too far to the east and, as such, the main target corridor remains entirely untested,” Mr Bray said.
“Great Western represents a potentially more compelling exploration terrain than the Horse Well camp as it is significantly larger in scale and also substantially more geologically complex.”
“Horse Well sits on the main regional Celia shear structure, and quite often in the goldfields you see the more significant deposits located on the secondary splay structures, hence our excitement at targeting Great Western and Mustang.”
New CEO Appointment
The results have provided a perfect start for new chief executive officer Richard Pugh, whom Gateway appointed to the role earlier this week.
The highly experienced geologist has played an instrumental role in the exploration growth at Yandal in his previous role as geology manager of the project under former owner Strickland Metals (ASX: STK).
Gateway – which acquired Yandal from Strickland Metals for $45 million in a deal that closed last month – is capitalised to undertake its planned 2025 and 2026 exploration, with cash and liquid ASX-listed securities of approximately $12.1m, as at the end of the June quarter.