Spartan delivers rock solid result for Gateway Mining (ASX:GML)
February 9, 2023Gateway Mining, holding a 20 per cent minor interest in a joint venture with DiscovEx Resources, have delivered single metre bedrock gold up to 4.8g/t A at the highly encouraging Spartan prospect in Edjudina, Western Australia.
Drilling has produced three high-priority bedrock gold drill targets generated on the Project’s co-owned E39/1765 and E39/1882 tenements, including 1.5% gross revenue royalty excluding iron ore.
“There remains a great deal to unpack at Edjudina with regards to the relationship between
transported and bedrock gold,” DCX Managing Director Toby Wellman said.One thing however remains certain, and that is there is a significant amount of metal contained in the regolith.
Where this is being remobilised from (both chemically and/or mechanically) remains unclear but the amount of gold intersected to date would certainly indicate it is being redistributed from a significant source.
With three bedrock gold targets defined, the exploration team is looking forward to the next phase of work at Edjudina, including extensional drilling in and around the defined mineralisation.”
Composite results returned from 151 aircore holes include:
- 1m@3.42g/t Au from 82m within 4m@1.24g/t Au from 82m (SPAC016)
- 1m@1.35g/t Au from 62m EOH (SPAC128)
- 1m@1.06g/t Au from 74m (SPAC026)
- 1m@0.63g/t Au from 83m EOH within 4m@0.42g/t Au from 80m (SPAC150)
- 9m@0.18g/t Au from 60m EOH (SPAC130)
Targets generated from gold in soil results within the Edjudina Project
Significant intersections within transported overburden include:
- 1m@4.82g/t Au from 35m within 8m@1.64g/t Au from 29m (SPAC017)
- 1m@2.00g/t Au from 32m within 6m@1.24g/t Au from 29m (SPAC029)
- 8m@0.58g/t Au from 28m (SPAC135)
- 4m@0.75g/t Au from 28m (SPAC136)
Price Action
Gateway Mining (ASX:GML) shares are 5.8c in today’s morning trade.
Fundamental Data
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