Identifies Potential For High-Grade Discovery Within Gidgee Gold Project
Gateway Mining Limited (ASX: GML) has intersected multiple new stacked zones of high-grade gold mineralisation immediately beneath the existing 120,000oz Montague-Boulder Inferred Mineral Resource, within its 1,000 sq. km Gidgee Gold Project in Western Australia.
The results are part of a Resource in-fill and extensional Reverse Circulation (RC) programme completed at this cornerstone deposit by Gateway in November. The overall programme consisted of 47 holes for 5,239m, with holes drilled to systematically in-fill the existing Mineral Resource area on nominal 40m x 40m spacing.
Several holes were extended to test for potential repeats of the mineralisation below the interpreted Resource structures. Further results from this programme are still outstanding.
Managing Director, Peter Langworthy, said the potential for additional structures within both the main mafic volcanic host-rock sequence, as well as within the Montague Granodiorite body itself has been recognised as a result of Gateway’s systematic evaluation of the existing known mineralisation along the Northwest margin of the Granodiorite Dome.
He said that while these holes only represent initial testing of the host sequences below the existing Resource, they do highlight the potential for significant additional mineralisation to be defined within the footprint of the existing Mineral Resource estimate.
New structures below the mafic volcanic hosted shear zone lodes were intersected at depth with several high-grade intersections returned including: 5 metres @ 17.4g/t Au from 83m and 2 metres @ 5.6g/t Au from 178m
“We completed an extensive in-fill drilling program at Montague-Boulder towards the end of our 2020 campaign aimed at upgrading the existing Inferred Resource at this cornerstone deposit,” Mr Langworthy said.
“While a large number of results from this programme are still outstanding, we have received significant results from a number of holes specifically designed to target the potential for additional mineralised structures below the existing 120,000oz Resource envelope.
“The results of this drilling have been outstanding, showing that these holes intersected multiple stacked high-grade lodes outside the current Resource – a fantastic result. This has reinforced the potential both to increase the size of the Montague Resource while also upgrading the resource classification.”
“This is another clear indication of the enormous exploration upside at the Gidgee Project, both at our known deposits and more broadly across the project area.
“We are looking forward to receiving the balance of the results from our 2020 drilling, which should give us strong momentum moving into the resumption of exploration next year.”