Gateway Mining Logo

Gidgee Mineral Resource Increases 87% To 449,000oz

New discoveries at Evermore and Achilles North, plus extensions to the Montague-Boulder deposit drive material growth in the Project Resource inventory

Gateway Mining Limited (ASX: GML) (Gateway or Company) is pleased to report a significant increase in the Mineral Resource for its 1,000km2 Gidgee Gold Project, within the Murchison gold district of Western Australia.


HIGHLIGHTS

  • 87%increaseintotalMineralResourcesfortheGidgeeGoldProjectto449,000oz,including a high-grade Indicated Resource of 81,000oz @ 3.4g/tAu:

Gateway Resource Estimate

  • Updated Mineral Resources located predominantly in the upper 100m – representing high- quality shallow ounces with a significant oxide component.
  • Updated 163,000oz Mineral Resource estimated for the Montague-Boulder deposit, including an Indicated Resource of 67,000oz @ 4.0g/tAu:

Gateway Resources reported

The updated Indicated and Inferred Mineral Resource of 8.165Mt at 1.7g/t Au for 449,000 contained ounces encompasses four deposits and represents an 87% increase on the previous Inferred Resource of 240,000 ounces for the cornerstone Whistler and Montague-Boulder deposits.

The upgrade is based on extensive exploration activities undertaken over the past 18 months, including new Mineral Resources at Evermore and Achilles North/Airport as well as upgrades to the Montague-Boulder deposit.

Importantly, it includes a robust maiden Indicated Resource of 743,000t at 3.4g/t for 81,000 contained ounces.

Click here for the full ASX Release

This article includes content from Gateway Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

GML:AU
The Conversation (0)
Tempest Minerals

TEM | Yalgoo Update - Further Excellent Iron Results

Tempest Minerals Limited (ASX: TEM) is pleased to update that recent RC drilling at the Remorse Target has identified the presence of thick, high-grade, magnetite-hosted iron in initial assays which has now been confirmed with multiple drill holes over several kilometres of strike length. The Remorse Target is situated within the Company’s 100% owned Yalgoo Project which has multiple world-class iron ore operations nearby.

Keep reading...Show less
Great Boulder Resources

Divestment of Non-Core Whiteheads Gold Project

Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to provide an update regarding its Whiteheads Gold Project located 40km north of Kalgoorlie, Western Australia.

Keep reading...Show less
Sarama Resources

Sarama Announces Equity Placement of up to A$2M and Issue of Equity for Debt

Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSXV:SWA) is pleased to announce it has received binding commitments to undertake a A$2 million (before costs) equity placement (the “Placement”).

Keep reading...Show less
Rio Silver

Rio Silver


Keep reading...Show less
M&A graphic.

Orla to Buy Musselwhite Gold Mine from Newmont for US$850 Million

Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

The purchase, valued at US$810 million, with two additional contingent payments of US$20 million each, will set Orla up as a diversified North American gold producer as it marks the company's entry into Canada.

The first contingent payment will be made if the spot gold price exceeds US$2,900 per ounce in the first year after the transaction closes, and the second will be made if the price exceeds US$3,000 in the second year after closure.

Keep reading...Show less

Latest Press Releases

Related News

×