Gateway Launches 4,600m Diamond Drilling at Yandal Amid $22.5m Capital Raise

Diamond Drilling Kicks Off at Yandal

Gateway Mining Ltd has commenced a 4,600 metre diamond drilling program at its flagship Yandal gold project in Western Australia. This new phase of exploration is designed to complement the ongoing 44,000 metre aircore drilling campaign along the Mustang-Pony trend, signalling a step-up in the company’s efforts to delineate high-quality gold targets ahead of more extensive drilling in 2026.

The first diamond hole is underway at the Comanche prospect within the Dusk ‘til Dawn target area, located at the northern edge of this highly prospective zone. Gateway’s Executive Chairman, Andrew Bray, highlighted the strategic flexibility of the program, noting that the rig will move between Dusk ‘til Dawn, Mustang-Pony, and Great Western targets through the remainder of the year, adapting to logistical considerations and emerging results.

Strategic Targeting and Future Plans

Beyond Dusk ‘til Dawn, the drilling campaign may extend to the Haflinger target, recently announced by the company, and other promising zones identified by the aircore program. Notably, Gateway plans to drill two stratigraphic holes at Great Western to better understand the geological framework, which will inform the design of a major reverse circulation (RC) drilling program scheduled for early 2026. This approach underscores the company’s methodical strategy to build a robust geological model before committing to large-scale drilling.

Mr Bray also mentioned the possibility of adding a second diamond rig by the end of 2025, contingent on ground conditions and drilling progress, which would accelerate the completion of the program and potentially enhance the pace of discovery.

Financial Strength Supports Ambitious Exploration

Gateway Mining enters this drilling phase with a solid financial footing, holding approximately $12.1 million in cash and liquid ASX-listed securities as of the June quarter, supplemented by a recent $22.5 million capital raising. This strong capital position provides the company with the flexibility to pursue its exploration objectives aggressively and respond to promising drill results without immediate funding constraints.

The company’s updated mineral resource estimates for the Yandal project remain consistent with prior assumptions, providing a stable foundation as drilling advances. Investors will be watching closely for assay results from the diamond drilling, which will be critical in assessing the potential to expand the resource base and refine future development plans.