ASX: GML - Gateway Mining
- Matt Birney
- 24 minutes ago
- 4 min read
Gateway Mining: Bingo – it extends into the fresh rock…in a big way!
Gateway Mining Chief Executive Officer Richard Pugh on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
ASX-listed Gateway Mining Chief Executive Officer Richard Pugh talks to Matt Birney on Bulls N’ Bears about Gateway’s first RC drill hole into the fresh rock below multiple gold air-core hits…..and it didn’t disappoint!
TO LISTEN TO THE GATEWAY MINING AUDIO INTERVIEW - CLICK BELOW
Gateway Mining is chasing gold in the Yandal belt of WA on a big regional structure called the Celia Shear, an area that appears to have been mis-interpreted geologically for some years. But, not any more, Gateway has been poking aircore holes into the Celia Shear since June with some solid success and now, in its very first attempt to drill into the fresh rock at depth with an RC rig, the bingo light has gone off at a prospect called Cowza.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by gold explorer Gateway Mining,
Matt Birney - ASX code: GML
Matt Birney - I'm Matt Birney, and I'm joined now by the CEO of Gateway Mining, Richard Pugh.
Matt Birney - Hi, Richard.
Richard Pugh - Hi Matt.
Matt Birney - Okay, so Gateway Mining is chasing gold in the Yandal belt of WA on a big regional structure called the Celia Shear, an area that appears to have been mis-interpreted geologically for some years. But, not any more, Gateway has been poking aircore holes into the Celia Shear since June with some solid success and now, in its very first attempt to drill into the fresh rock at depth with an RC rig, the bingo light has gone off at a prospect called Cowza.
Matt Birney - Okay, Richard, we'll get into that big RC drill hit in a minute, but firstly, just set the geological scene for me at Cowza. What has all that air core drilling been telling you to date?
Richard Pugh - Yeah, so historically at Cowza, a lot of the drilling was drilled in the 90s and it sort of tested the footwall position. So our understanding from our drilling that we did at Horse Well, which is our resource base to the north, really sort of pointed that we needed to test the mafic and intermediate contact to the east. And that's really what the air core drilling has been doing. So we've been testing this new structure. It's never been drilled before. And as you quite rightly pointed out, we've defined over four and a half kilometres of high-grade oxide gold mineralisation.
Matt Birney - Yeah, okay. Well, what about - let's get into this very first RC drill hole into the fresh rock below. What was the best number there?
Richard Pugh - Yeah, so it's a fantastic result from the first results we got back from the RC. So it's 41 meters at two grams a tonne gold from 104 meters, including nine meters at seven and a half grams a tonne gold, in fresh rock.
Matt Birney - Yeah, good number. So how did that RC hole correlate with the air core drilling? Does it help solve the overall geological puzzle, or is it a completely new zone?
Richard Pugh - Yeah, absolutely, it does. So the drilling above it sort of from one of the air core holes intersected 16 meters at 1.3. So this really sort of reaffirms and shows the true width of the shear zone and demonstrates that for the rest of the four and a half kilometres of strike, we're sort of likely to intersect sort of similar high-grade mineralisation at depth.
Matt Birney - About two kilometres to the north of that big RC hole, I see you hit a 52-meter stretch of gold mineralisation, but only very low-grade at 0.3. Does that sort of cap out the extent of those fresh rock hits to the north?
Richard Pugh - No, absolutely not. So the unfortunately for that RC hole in particular, it did drop when we were drilling it, so we didn't actually test the structure. But fortunately for us to get 52 meters at 0.3, it does demonstrate that the gold does continue further north, it's just that we haven't nailed the structure in that position yet.
Matt Birney - Okay. Now, before the rig turned up, you did a mountain of air core drilling. What were some of the best air core hits?
Richard Pugh - So the best air core hits along that strike was eight meters at 2.2, 27 meters at 1.4, and eight meters at 3.1.
Matt Birney - Yeah, very quickly, it looks like you're under a pretty big stretch of mineralisation at Cowza. How are you fixed for cash to explore it?
Richard Pugh - Yeah, really good thanks. We've just sort of transacted on our Brightstar shares, so we've got $15 million in the bank, which will take us well into next year with the drilling we have planned.
Matt Birney - Richard Pugh from Gateway Mining.
Matt Birney - Thanks for joining me on Bulls N' Bears. And remember, we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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