Gateway to fly big airborne geophysical survey in new WA gold hunt
Meanwhile, Gateway completed the first diamond drilling at the Comanche target in the Yandal project yesterday to a depth of 398.8 m in a 4,600 m program.
The hole was drilled on a westward azimuth and confirms possible potassic alteration in the conglomerate at the margins of the intrusive from Dusk to Dawn. This is reflected geophysically by a classically induced polarization anomaly approximately 300 m wide, calling for drilling.
In response to this initial success, Gateway plans to further investigate the Comanche site before the end of the year with a second bore that will be in the inverse azimuth of the first, thus drilling the intruding object and accurately determining its composition and nature of contact.
Meanwhile, the rig was shifted to the company’s Haflinger target for two shear holes, a 1km-wide IP charge anomaly located between two fault-limited apophyses that appeared to be the same intrusion, indicating possible sulphides at signature depth.
The IP anomaly is aligned with a well-defined slip convergence, a major fault, a major shear flexure, and a major mafic-intermediate contact that has been identified as hosting gold elsewhere in the region.
The presence of a significant intrusive body adds icing on the cake as this may have been the source of heat and mineralization solutions that may have possibly passed into the surrounding regional plumbing system.
Gateway finished the June quarter with approximately $12.1 million in cash and other liquid securities, supported by a $22.5 million raise that it said would fully fund its 2025-26 exploration campaigns.
With a regional-scale magnetic geophysical survey about to be blown up and drill bits drilling below the surface on multiple high-priority gold targets, Gateway looks set to reward fresh gold potential from these two significant WA projects.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
