Gateway Mining has identified a 3km undrilled gold target at Pewy, where geophysical features and nearby aircore results resemble the setting that preceded its Cowza discovery. First-pass drilling is scheduled for early October, backed by the company’s recently completed $45 million placement.
- 3km demagnetised gold target defined at Pewy
- Aircore results of 8m at 1.0g/t Au and 4m at 1.4g/t Au near the target
- Pewy lies along the same mafic-intermediate contact as Cowza, Celia South and Ward
- First-pass aircore drilling scheduled for early October
- $45 million placement strengthens Gateway’s exploration funding
Pewy emerges as Gateway’s next major drilling target
Gateway Mining Limited (ASX:GML) has found what it describes as a Cowza look-alike at Pewy, a 3km-long gold target on the Celia Shear in Western Australia. The central demagnetised corridor has never been drilled, leaving the company with a sizeable exploration concept to test rather than a defined discovery.
The target sits along the same mafic-intermediate volcanic contact that hosts mineralisation at Cowza, Celia South and Ward. Gateway’s interpretation also identifies northeast-trending cross structures at Pewy, a combination the company says matches the structural setting present before its Cowza discovery hole returned 41 metres at 2.0g/t gold from 104 metres, including 9 metres at 7.5g/t.
Gold results point towards the untested corridor
Recent aircore drilling has supplied the early geological encouragement. The strongest result within the Pewy area so far was 8 metres at 1.0g/t gold from 84 metres in SCAC0003, immediately south of the main demagnetised zone. Drilling to the north at Ward returned 4 metres at 1.4g/t gold from 48 metres on the same favourable contact.
Gateway says the results on either side of the undrilled corridor may indicate that gold tenor increases towards its centre. That is a useful exploration vector, but it remains an interpretation based on widely spaced aircore drilling. The reported intervals are downhole lengths, and the true widths of the mineralisation are not yet known.
October aircore campaign will test Pewy’s centre
Aircore contractors have been engaged, with first-pass drilling due to begin in early October. The program will test the central demagnetised zone, refine the geometry of the mafic-intermediate contact and generate targets for later reverse-circulation and diamond drilling.
Pewy forms the southern end of an emerging roughly 30km mineralised trend running through Celia South, Cowza and Ward. Gateway says more than 13km of high-grade plunging lodes have now been defined across Celia South, Cowza and Ward, while Pewy represents the next 3km of the same structural and lithological architecture.
Capital raising gives Gateway room to accelerate
The exploration push is supported by the successful completion of Gateway’s $45 million placement. The company also reported $15.1 million in cash and liquid assets at 30 June 2026, giving it funding to advance work at Pewy, continue reverse-circulation drilling at Cowza and prepare for the arrival of two diamond rigs.
The comparison with Cowza is central to the investment case, but it is not a substitute for drilling. Pewy’s next test is whether the promising geology and peripheral aircore results translate into continuous, economically meaningful mineralisation within the untouched corridor. October drilling should begin to answer that question.
Bottom Line?
Pewy offers Gateway a large, well-funded exploration catalyst, but the key evidence still lies ahead: drilling the 3km corridor itself and establishing whether the Cowza analogy extends beyond the map.
Questions in the middle?
- Will first-pass drilling confirm continuous mineralisation through the central demagnetised corridor?
- Do the reported aircore intervals represent meaningful widths and grades once tested with deeper drilling?
- How quickly can Gateway convert the $45 million placement into results across Pewy, Cowza and the wider Yandal pipeline?