Gateway Mining has expanded its aircore drilling campaign at the Yandal Gold Project to 44,000 metres, targeting structurally complex shear zones with high gold potential. A diamond rig is set to commence follow-up drilling shortly.
- Aircore drilling program increased from 25,000m to 44,000m
- Focus on Mustang Shear Zone and structurally complex Pony Target
- Diamond drilling rig arriving next week for Dusk ‘til Dawn targets
- Targets include 8km strike length with plans to expand to 22km
- Company well capitalised with $12.1m cash and recent $22.5m capital raise
Gateway’s Expanded Exploration Ambitions
Gateway Mining Limited (ASX – GML) has announced a significant upsizing of its aircore drilling program at the Yandal Gold Project in Western Australia. Originally planned as a 25,000-metre campaign, the program has now been expanded to 44,000 metres, reflecting the company’s confidence in the prospectivity of the Mustang Shear Zone and the adjacent Pony Target area.
The Mustang Shear Zone, spanning at least 22 kilometres, is a key structural feature along the eastern margin of the Archaean Basement granitoid. It shares geological similarities with the Celia Shear Zone on the western margin, a known host to high-grade gold mineralisation. Gateway’s management highlights the greater structural complexity and scale at Mustang, which they believe could translate into more substantial gold deposits.
Targeting Structural Complexity for Gold
The Pony Target, located immediately north of Mustang, is particularly intriguing due to the convergence of the Mustang and Celia shear zones. This junction is complicated by the presence of three discrete intrusions, Pony, Colt, and Haflinger, and a series of northeast-trending structures. These geological features have created multiple dilational zones over a 4.5-kilometre strike, which are considered prime environments for gold accumulation.
Previous exploration in this area was limited to shallow, widely spaced rotary air blast drilling, which did not penetrate the main structures. Gateway’s current aircore program aims to drill deeper and more systematically, using a rig capable of coring the ends of holes to obtain fresh rock samples. This approach should provide a clearer picture of the mineralised structures and help refine targets for subsequent reverse circulation and diamond drilling.
Diamond Drilling and Capital Strength
Complementing the aircore program, a diamond drilling rig is scheduled to arrive on site towards the end of next week. This rig will initially focus on the Dusk ‘til Dawn targets but remains flexible to test promising results emerging from the Mustang-Pony aircore drilling. Diamond drilling is critical for confirming mineralisation at depth and providing high-quality samples for assay.
Financially, Gateway is well positioned to execute its exploration plans, holding approximately $12.1 million in cash and liquid ASX-listed securities as of the June quarter. This strong balance sheet is bolstered by a recent $22.5 million capital raising, underscoring investor confidence in the company’s strategy and the potential of the Yandal Gold Project.
Looking Ahead
The expanded drilling program and the arrival of diamond drilling equipment mark a pivotal phase for Gateway Mining. The company’s focus on structurally complex shear zones with proven geological analogues suggests a methodical approach to unlocking significant gold mineralisation. While assay results are pending, the scale and sophistication of the current exploration effort could materially enhance Gateway’s resource base and market valuation.
Bottom Line?
Gateway’s ambitious drilling campaign at Yandal sets the stage for potentially transformative gold discoveries.
Questions in the middle?
- What initial assay results will reveal about gold grades and mineralisation continuity?
- How will the structural complexity at Mustang-Pony influence resource modelling and mine planning?
- What are the timelines and criteria for expanding drilling beyond the current 8km strike length?