New discoveries at Evermore and Achilles North, plus extensions to the Montague-Boulder deposit drive material growth in the Project Resource inventory

Gateway Mining Limited (ASX: GML) (Gateway or Company) is pleased to report a significant increase in the Mineral Resource for its 1,000km2 Gidgee Gold Project, within the Murchison gold district of Western Australia.


HIGHLIGHTS

  • 87%increaseintotalMineralResourcesfortheGidgeeGoldProjectto449,000oz,including a high-grade Indicated Resource of 81,000oz @ 3.4g/tAu:

Gateway Resource Estimate

  • Updated Mineral Resources located predominantly in the upper 100m – representing high- quality shallow ounces with a significant oxide component.
  • Updated 163,000oz Mineral Resource estimated for the Montague-Boulder deposit, including an Indicated Resource of 67,000oz @ 4.0g/t Au:

Gateway Resources reported

The updated Indicated and Inferred Mineral Resource of 8.165Mt at 1.7g/t Au for 449,000 contained ounces encompasses four deposits and represents an 87% increase on the previous Inferred Resource of 240,000 ounces for the cornerstone Whistler and Montague-Boulder deposits.

The upgrade is based on extensive exploration activities undertaken over the past 18 months, including new Mineral Resources at Evermore and Achilles North/Airport as well as upgrades to the Montague-Boulder deposit.

Importantly, it includes a robust maiden Indicated Resource of 743,000t at 3.4g/t for 81,000 contained ounces.

Click here for the full ASX Release

This article includes content from Gateway Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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