- Gateway Mining (GML) confirms 700-meter gold zone as part of its Gidgee gold project in WA
- The company recently completed a core drilling that focused on the Julias South and Flametres areas.
- The recently discovered 700-meter zone of oxide gold can be found south of the Julias target and intercepted four meters of gold 8.3 g / t
- Dr. Mark Kossam says the 2022 Giji field season is “over” and plans the next recirculation drilling program, which will also focus on upgrading the MRE
- Shares of the company traded 4.76 percent for one cent after the market closed
Gateway Mining (GML) has confirmed a shallow trend towards gold as part of the Gidgee Gold project in the Murchison region of Western Australia.
The company received analyzes as a result of a recently completed core drilling program that focused on the Julius South trend and the Flametree target area.
Drilling of the core in Julias is what determined the trend of mineralization of gold oxide, which extends 700 meters south of the target of Julias.
The analysis from the 700-meter zone on Julia-South includes four meters at 8.3 g / t of gold from 56 meters, five meters at 1.9 g / t of gold from 36 meters and eight meters at 1 g / t of gold from 40 meters .
Drilling on the Flametree target also yielded some high results: three meters at 5.4 g / t gold from 51 meters, four meters at 2.5 g / t gold from 69 meters and nine meters at 1 g / t gold from 64 meters.
Managing Director Mark Kosam said the Gateway exploration program for 2022 in Giji “fits the flyers” with the unveiling of a 700-meter gold zone in Julias South.
“Together with the exciting high-end results at the nearby Flametree target, it emerges as a large-scale mineralized system that extends to a total strike length of more than two kilometers – an exciting opportunity to identify new, smaller resources and grow our total gold inventory in Giji,” said Giji. .
Looking ahead, Gateway Mining is planning a reverse circulation drilling program (RC) to update Gidgee’s existing mineral resource estimate by 449,000 ounces.
“Given the results of the recently completed systematic RC drilling in Julias and the new phase of RC drilling that is about to begin, shareholders can expect an exciting period of significant news flow as we work to increase our existing resource to 449,000 ounces and take the Gidgee project to the next level.” .
At the close of the market, the company’s shares fell by 4.76 percent to one cent.