Gateway Mining executive chairman Andrew Bray said: “Initial results from the first three aircore lines indicate the emergence of an extensive system at Mustang, as anticipated. Multiple mineralised structures are beginning to be identified across these wide-spaced reconnaissance lines, representing strong follow-up targets for RC drilling in the new year.”
The Mustang prospect is distinguished by its structural complexity, particularly where the Celia Shear and Mustang Shear corridors intersect and flex around the Pony, Haflinger and Colt intrusions. The complexity is further enhanced by northeast-trending cross structures that create dilational zones considered highly prospective for gold deposition.
Historical drilling in the area, largely carried out by Eagle Mining in the mid-1990s, consisted of shallow, wide-spaced RAB and aircore holes that failed to penetrate transported cover. As a result, the underlying primary mineralised structures were never properly tested.
Gateway’s current campaign represents the first systematic attempt to drill through cover and test the basement geology along the Mustang-Pony corridor. With extensive strike potential and minimal modern exploration, the area offers a compelling opportunity for new discoveries.
Backed by a bulging wallet and a stash of liquid listed shares following recent capital raisings, Gateway appears well placed to press the accelerator on exploration across its underexplored Yandal portfolio and potentially deliver meaningful resource growth – a move sure to catch the punters’ eye.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
