Gateway Mining Limited (ASX: GML) has unveiled further high-grade gold intersections from the in-fill and step-out RC drilling program completed at its Montague-Boulder deposit within its Gidgee Gold Project in Western Australia.
The company said that consistent high-grade results from key areas of in-fill drilling have paved the way for an upgrade to the current 120koz Inferred Resource while step-out drilling showed strong growth potential.
GML said that drilling on the northern and southern flanks of the cornerstone Montague-Boulder deposit returned significant intercepts including GRC609: 5 metres @ 6.9g/t Au from 67m and GRC612: 3 metres @ 3.7g/t Au from 88m.
The company said that the new results received from in-fill drilling uncovered several outstanding high-grade intercepts including GRC588: 6 metres @ 6.2g/t Au from 96m; and GRC591: 3 metres @ 9.0g/t Au from 62m.
GML also reported exploration update and further work planned.
The 1,000km2 Gidgee Gold Project is located in the Gidgee district in the Archean Yilgarn Craton of Western Australia.
Significant targets within the Gidgee project include Kashmir, Mafic Shear Zone, Whistler, Achilles, Stockwork, Montague-Boulder, and Airport. Kashmir is 1.8km long gold-in soil anomaly.
Infill and RC drilling at Gidgee
The company had recently completed an extensive in-fill and step-out Reverse Circulation (RC) drilling program at its Montague-Boulder Inferred Mineral Resource within the Gidgee project. The overall program consisted of 47 holes for 5,239m.
Initial results from several holes completed as part of this in-fill program were previously released. Significant results that were previously released from lodes located below the existing Mineral Resource included GRC599: 5 metres @ 17.4g/t Au from 83m; GRC583: 5 metres @ 2.7g/t Au from 115m; and GRC603: 2 metres @ 5.6g/t Au from 178m.
The company has now reported further high-grade drill results.
High-grade intersections from the step out drilling to the south
The company reported that high-grade intersections were returned from several holes stepping out immediately to the south of the existing Montague-Boulder Mineral Resource.
Significant intersections from the step out drilling to the south included GRC609: 5 metres @ 6.9g/t Au from 67m (~100m south of existing Resource); and GRC612: 3 metres @ 3.7g/t Au from 88m(~160m south of existing Resource).
The company said that these results are consistent with Gateway’s emerging interpretation of a continuously mineralised, moderately dipping shear zone along the north-western margin of the Montague Granodiorite Dome.
GML said that previously announced step-out drilling along this Northwest Margin had intersected high-grade mineralisation up to 1.1km north of the existing Montague-Boulder Mineral Resource, substantially expanding the potential of this broader area.
Outstanding intercepts from in-fill drilling
GML reported that in-fill drilling within the Montague-Boulder Mineral Resource footprint was successful in confirming both the orientation and tenor of the gold mineralisation.
The company said that several excellent results were returned, including GRC588: 6 metres @ 6.2g/t Au from 96m; GRC591: 3 metres @ 9.0g/t Au from 62m; GRC625: 7 metres @ 4.6g/t Au from 112m; GRC594: 2 metres @ 4.3g/t Au from 97m; and GRC593: 6 metres @ 3.6g/t Au from 11m.
The company said that these results from within the existing Mineral Resource footprint confirm the continuity of the high-grade mineralisation, complementing the results reported just before Christmas that indicate potential for additional lodes beneath the existing interpreted positions.
GML said that all these new data will be fully interpreted and incorporated with the existing drill database, and utilised in a revised Mineral Resource Estimate for the Montague-Boulder deposit. It is anticipated that the in-fill data will allow for an upgrade in the confidence level of part of the Resource from the current Inferred category, as per the JORC Code.
Gateway Mining said that further assay results are awaited from follow-up RC drilling at the newly discovered Lower Zone on the Northwest Margin.
The company said that a new phase of drilling along the Northwest Margin, including follow-up diamond drilling targeting the Lower Zone discovery, and step-out RC drilling south of the Montague-Boulder open pit toward the Caledonian Northeast Pit is planned to commence in mid-February 2021.
Managing Director Peter Langworthy, said: “Our excitement about the potential of the Northwest Margin of the Montague-Granodiorite, both north and south of the cornerstone Montague-Boulder deposit, has continued to build over the Christmas-New Year period with the receipt of these outstanding new results.
Step-out drilling to the south has delivered significant high-grade intercepts up to 160m south of the current 120koz Mineral Resource boundary, demonstrating the clear potential for the Resource to grow further in this area.
Importantly, the location and orientation of these new zones is entirely consistent with our emerging interpretation of a continuously mineralised, moderately dipping shear zone along the Northwest Margin.
In-fill drilling within the current Inferred Resource has delivered results that also support our geological interpretation and which will support an upgrade to a portion of the Inferred Resource when we recalculate the Montague-Boulder Mineral Resource Estimate.
We are now eagerly awaiting the final batch of assays from the pre-Christmas drilling, which is targeting the area around the Lower Zone discovery to the north. With a strong balance sheet and a clear understanding of where we need to go next, 2021 is set to be a really exciting year for Gateway shareholders.”