Gateway Mining Hits High-Grade Gold at Untested Cowza Contact

Discovery at Previously Untested Mafic-Intermediate Contact

Gateway Mining Limited (ASX:GML) has struck promising high-grade gold mineralisation at the Cowza prospect within its Yandal Gold Project, Western Australia. The maiden aircore drilling targeted a geological contact that had eluded previous explorers; the mafic-intermediate volcanic interface; and delivered encouraging results including 4 metres at 4.7 grams per tonne (g/t) gold from 96 metres and 4 metres at 3.0 g/t gold from 76 metres.

This discovery is significant because all historic drilling at Cowza had focused too far west on a footwall position, missing the primary contact that is now proving to host robust mineralisation. The current drilling intersected gold mineralisation over an 800-metre section of a 2.5-kilometre structure, which remains open to the north and south, suggesting further upside potential as exploration progresses.

Structural Parallels with Millrose Gold Deposit

Gateway’s Chief Executive Officer, Richard Pugh, drew attention to the geological resemblance between Cowza and the nearby Millrose Gold Deposit, located about 25 kilometres to the south. Historic Cowza drilling sits in a position analogous to Millrose West, which is a lower-grade footwall zone, while the newly intersected mafic-intermediate contact at Cowza aligns with the higher-grade main Millrose deposit.

The analogy extends to the structural setting, where the Cowza shear zone flexure resembles the flexure at Millrose that hosts high-grade mineralisation. Notably, the high-grade intercepts at Cowza are comparable to those that led to the Wanamaker discovery near Millrose, including a 4-metre intercept at 4.7 g/t gold, highlighting the prospect’s potential to host substantial mineralisation.

Regional Scale Upside and Untested Targets

Cowza lies approximately 4.5 kilometres south of Celia South, another recent Gateway discovery, both situated on the extensive Celia Shear Zone. Magnetic data reveals a 4.5-kilometre gap between these two prospects marked by strong demagnetisation, indicative of intense hydrothermal alteration; a classic signature of gold systems. Gateway plans to drill this gap shortly, aiming to link the two mineralised zones and extend the known gold system.

The company’s growing portfolio of prospects at Yandal, including Haflinger, Mustang, Hummer, Rubicon, Great Western, and Horse Well, underscores the scale of exploration success. Gateway’s forthcoming results from Great Western and the mobilisation of a second reverse circulation (RC) rig early next quarter signal an aggressive push to delineate and expand these discoveries.

Strong Financial Position Supports Exploration

Gateway remains well capitalised to pursue its 2026 exploration program, with $15.7 million in cash and $5.6 million in liquid ASX securities at the end of the March quarter. This financial strength provides a solid foundation for the planned infill and extensional drilling campaigns designed to test the newly identified mafic-intermediate contact and surrounding targets.

While the initial aircore drilling results are compelling, Gateway acknowledges that further drilling is required to fully understand the geometry and extent of the mineralisation. Downhole intercepts reported are not true widths, and ongoing RC drilling will be critical to refining resource estimates and assessing economic potential.