Gateway’s Glenburgh South Acquisition Raises Stakes Amid Benz’s 400% Share Surge
Gateway Mining Limited has acquired an 80% interest in the Glenburgh South Gold Project in Western Australia, positioning itself alongside Benz Mining Corp’s high-profile Glenburgh deposit. Early exploration hints at promising gold mineralisation, while Gateway prepares for major drilling at its flagship Yandal project.
- Acquisition of 80% interest in 620 sq km Glenburgh South Project
- Project adjacent to Benz Mining’s 510,100 oz Glenburgh Gold Deposit
- Historic and recent sampling indicate similar gold mineralisation structures
- Commitment to $1.4 million exploration over three years
- Gateway to continue flagship Yandal drilling campaign alongside new project work
Strategic Acquisition in a Hot Exploration Zone
Gateway Mining Limited (ASX, GML) has taken a significant step by acquiring an 80% interest in the Glenburgh South Gold Project, a sprawling 620 square kilometre tenement package in Western Australia’s Gascoyne region. This acquisition places Gateway right next to Benz Mining Corp’s Glenburgh Project, which has recently captured market attention with a 400% share price surge and a near $300 million market capitalisation, driven by its 510,100 ounce gold deposit.
Gateway’s Executive Chairman Andrew Bray highlighted the strategic value of the deal, noting the geological parallels between Glenburgh South and Benz’s project. Early-stage exploration, including historic stream sediment sampling and recent soil sampling, reveals a 13-kilometre gold surface anomaly on a structure identical to that hosting Benz’s deposit. Benz has also likened the area’s geology to the world-class Tropicana gold discovery, underscoring the potential scale and quality of mineralisation.
Exploration Plans and Financial Commitment
The acquisition terms include reimbursement of historic exploration costs ($200,000 cash and $235,000 in Gateway shares) and a firm commitment to invest $1.4 million in exploration over the next three years. Gateway will manage the joint venture, holding an 80% interest while the vendors retain 20%, free carried until completion of a definitive feasibility study.
Gateway intends to conduct cost-effective early-stage exploration activities such as geological mapping, surface sampling, and airborne magnetic surveys at Glenburgh South. These efforts will run concurrently with aggressive drilling campaigns at its flagship Yandal Gold Project, where a 25,000-metre aircore and 4,000-metre diamond drilling program is set to commence imminently.
Geological Context and Historical Data
The Glenburgh South Project lies within the Palaeoproterozoic Gascoyne Complex, a high-grade metamorphic belt that remains underexplored despite its similarities to the Tropicana deposit. Historic exploration by Normandy in the mid-1990s identified significant gold anomalies through stream sediment sampling, with gold grades consistent with those at Benz’s Glenburgh deposit. Recent soil sampling by Gateway has confirmed these anomalies, reinforcing the prospectivity of the area.
Complementing the geochemical data, a regional gravity survey reprocessed by Terra Resources has highlighted geophysical signatures matching those of the adjacent Glenburgh deposit. This integrated dataset provides a compelling foundation for Gateway’s exploration strategy.
Balancing Focus and Opportunity
While Gateway’s primary focus remains on advancing the Yandal Gold Project, the Glenburgh South acquisition offers a valuable second priority asset with significant upside potential. The company’s strong cash position of approximately $12.1 million as of June 2025 ensures it is well-capitalised to pursue both projects simultaneously.
Gateway’s entry into this highly prospective corridor not only diversifies its portfolio but also positions it as a key player in any future consolidation of the Glenburgh region, which has attracted considerable investor interest due to recent discoveries.
Bottom Line?
Gateway’s dual focus on Yandal and Glenburgh South sets the stage for a pivotal exploration phase that could reshape its growth trajectory.
Questions in the middle?
- Will early-stage exploration at Glenburgh South confirm the presence of economically viable gold mineralisation?
- How will Gateway balance resource allocation between the flagship Yandal project and the newly acquired Glenburgh South?
- Could Gateway’s acquisition trigger further consolidation activity in the Glenburgh region?
