GATEWAY MINING LIMITED For personal use only
ASX Announcement
ASX: GML
23 May 2022
Flametree Lights Up at Gidgee With Major Oxide Gold
Trend Confirmed by Air-core Drilling
Drilling outlines a significant +2km long mineralised trend close to existing Resources
HIGHLIGHTS
- First air-core results for 2022 confirm the major trend of shallow, oxide gold mineralisation extending over 700m south-west of the Julias oxide discovery. Significant new air-core intersections include:
▪ | GWAC1034: | 4m | @ 8.3g/t Au from 56m |
▪ | GWAC1023: | 5m | @ 1.9g/t Au from 36m |
▪ | GWAC1029: | 8m | @ 1.0g/t Au from 40m, and |
9m | @ 1.0g/t Au from 84m |
- Results from the adjacent historic Flametree target increase confidence in the presence of high- grade oxide gold mineralisation, with significant assays including:
▪ | GWAC1056: | 3m @ 5.4g/t Au from 51m |
▪ | GWAC1053: | 4m @ 2.5g/t Au from 69m |
- Systematic Reverse Circulation (RC) completed at the main Julias oxide target area, with all assay results pending.
- Preparations underway for re-commencement of RC drilling at Gidgee, aimed at increasing the current 449,000oz JORC (2012) Indicated and Inferred Mineral Resource.
Gateway Mining Ltd
B1/431 Roberts Road | LinkedIn: @gateway-mining |
Subiaco WA 6008 | Twitter: @gateway_mining |
www.gatewaymining.com.au |
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Gateway's Managing Director, Mr Mark Cossom, said: "Our 2022 exploration field season at Gidgee is off to a flyer with air-core drilling along strike from the exciting Julias gold discovery returning significant oxide intercepts over a 700m zone to the south-west of Julias.
"Together with exciting high-grade results at the adjacent Flametree target, this is emerging as a large-scale mineralised system extending over a total strike length of more than 2km - an exciting opportunity to delineate new, shallow resources and grow our overall gold inventory at Gidgee.
"With results pending from recently completed systematic RC drilling at Julias and a new phase of RC drilling about to begin, shareholders can look to an exciting period of significant news-flow as we work to grow our existing 449,000oz resource and take the Gidgee Project to the next level."
Gateway Mining Limited (ASX: GML) (Gateway or Company) is pleased to report highly encouraging initial assay results from air-core drilling completed in March 2022 at its 449,000oz1 Gidgee Gold Project located in the Murchison Region of Western Australia.
Results have been received from drilling carried out south along strike from the exciting Julias oxide gold target area, as well as the adjacent historic Flametree oxide gold target.
A total of 42 holes for 3,226m of air-core were drilled along the Julias South trend, and 34 holes for 2,833m of air-core were drilled at the Flametree target area (Figure 2) (see Table 1 and Appendix A for detail).
At Julias, mineralisation is contained in a heavily weathered sedimentary rock sequence, associated with a moderately dipping gossanous quartz-breccia fault zone. The mineralisation is present at shallow depths, as shown in the schematic cross-section Figure 3. The prospective horizon is visually distinct and has been successfully traced for over 1.2km and is open to the north-west.
This most recent round of air-core drilling successfully followed up on the previously reported air-core results, increasing the confidence on the orientation and tenor of mineralisation present. Significant results returned include:
▪ | GWAC1034: | 4m | @ 8.3g/t Au from 56m |
▪ | GWAC1023: | 5m | @ 1.9g/t Au from 36m |
▪ | GWAC1029: | 8m | @ 1.0g/t Au from 40m, and |
9m | @ 1.0g/t Au from 84m | ||
▪ | GWAC1040: | 4m | @ 1.2g/t Au from 84m |
▪ | GWAC1028: | 7m | @ 1.0g/t Au from 48m |
▪ | GWAC1027: | 2m | @ 2.0g/t Au from 30m, and |
3m | @ 1.5g/t Au from 76m | ||
▪ | GWAC1030: | 4m | @ 1.5g/t Au from 24m |
▪ | GWAC1033: | 4m | @ 1.0g/t Au from 76m |
These results are entirely consistent with previous air-core results returned the Julias South trend, including2:
▪ | GWAC0965: | 24m | @ 1.4g/t Au from 16m |
▪ | GWAC0961: | 8m | @ 1.3g/t Au from 32m |
▪ | GWAC0957: | 4m | @ 1.4g/t Au from 16m |
Importantly, these air-core programs have successfully defined an expansive zone of shallow oxide gold mineralisation over a strike length of over 700m to the south of the exciting Julias target, where recent RC drilling by Gateway has demonstrated substantial zones of high-grade, near surface gold3:
▪ | GRC762: | 11m | @ 2.6g/t Au from 24m |
▪ | GRC763: | 10m | @ 3.0g/t Au from 38m, and |
12m | @ 2.4g/t Au from 60m | ||
▪ | GRC761: | 9m | @ 3.5g/t Au from 67m |
▪ | GRC758: | 9m | @ 3.4g/t Au from 55m |
- 8,165,000t @ 1.7g/t u for 449,000ozs Indicated and Inferred. See ASX Release dated 14 December 2021.
- See ASX Release dated 21 October 2021.
- See ASX Release dated 27 January 2022.
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Following on from this successful air-core program and confirmation of the orientation and grade distribution of oxide gold mineralisation at Julias South, a program of RC drilling will be planned to assess the potential for delineation of a shallow oxide gold Mineral Resource.
At the adjacent Flametree target, drilling in several historic campaigns (including Gateway in early 2020) intersected several zones of high-grade oxide gold mineralisation. These historic intersections include4:
▪ | GWAC0267: | 5m | @ 10.4g/t Au from 52m |
▪ | GWAC0256: | 4m | @ 3.8g/t Au from 20m |
▪ | GWAC0247: | 5m | @ 3.8g/t Au from 23m |
▪ | VCRC0001: | 7m | @ 5.0g/t Au from 29m |
▪ | VRC031: | 5m | @ 7.0g/t Au from 31m |
▪ | VRC048: | 4m | @ 4.0g/t Au from 30m |
▪ | VRC068: | 6m | @ 6.3g/t Au from 40m |
Mineralisation is encountered in several horizons within the heavily oxidised profile at Flametree. Air-core drilling in this current program was aimed at confirming the orientation of mineralisation with respect to the Julias trend, as the existing drill coverage has been completed in a variety of orientations.
Several high-grade oxide intersections were returned:
▪ | GWAC1056: | 3m @ 5.4g/t Au from 51m |
▪ | GWAC1053: | 4m @ 2.5g/t Au from 69m |
▪ | GWAC1070: | 9m @ 1.0g/t Au from 64m |
▪ | GWAC1073: | 4m @ 1.7g/t Au from 32m |
▪ | GWAC1062: | 4m @ 1.1g/t Au from 84m |
The intersection in GWAC1056 (3m @ 5.4g/t Au) was returned directly along strike from GWAC0267 (5m @ 10.4g/t Au) in the same orientation as the Julias South trend (Figure 1). As shown in Figure 1, there are clear gaps in the current drill pattern between Flametree and Julias South. The prevalence of significant oxide gold in this area makes this an important future drill target for further air-core drilling.
Additional Recently Completed Drilling
These results are the first from a significant drill campaign that was recently completed at Gidgee. This campaign comprised a 16,000m air-core program that targeted Julias South and Flametree, as well as the north-eastern extensions to Julias and several regional targets.
Results from the balance of this air-core program (approximately 9,000m) are still pending.
In addition, a significant 7,000m RC drilling program was also completed. As shown in Figure 2, a significant RC drill pattern was completed at the main Julias oxide gold target. In addition, RC drilling was completed at Kashmir extending along strike from results returned in January 2022, as well as a maiden drill campaign at the Monarch target.
All assays from RC drilling are also pending.
Upcoming Exploration
Preparations are underway for a major RC drill campaign across the primary target areas within 5km of the existing Mineral Resources at Gidgee.
Drill programs will initially focus on extensions of existing Resources at Evermore, Montague-Boulder and Achilles, as well as systematic testing of the eastern margin of the Montague Granodiorite for the first time. It is anticipated that further drilling will be planned to follow-up on recently completed programs, as the assay data comes to hand.
4 See ASX Release dated 4 March 2020.
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Figure (1): Julias South-Flametree target areas with historic | Figure (2): Julias South-Flametree target areas with recently |
drilling and new air-core results. Note the +2km corridor of | completed air-core and RC drill patterns. |
shallow oxide mineralisation intersected to date. |
Figure (3): Julias South air-core drilling cross section 6,968,800mN. Note the shallow nature of mineralisation and depth of
weathering.
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This released has been authorised by:
Mark Cossom
Managing Director
For and on behalf of
GATEWAY MINING LIMITED
Competent Person Statement
The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled or reviewed by Mr Stuart Stephens who is a full-time employee of Gateway Mining Ltd and is a current Member of the Australian Institute of Geoscientists. Mr Stephens owns options in Gateway Mining Ltd. Mr Stephens has sufficient experience, which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Stephens consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
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Gateway Mining Ltd. published this content on 22 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 May 2022 23:05:04 UTC.
