Evidence at the Yandal Gold Project in Western Australia continues to grow, with Gateway Mining (ASX:GML) this week uncovering a “substantial haul” of decently sized gold nuggets at the Great Western splay corridor.
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The Australian explorer reported that 134 nuggets collectively weighing 366 grams were collected along a 1.2-kilometre strike at the Yandal prospect.
The nuggets ranged from 1.5 grams up to a meaty 26.5, with around 60% recovered from “a concentrated area” measuring 200 by 100 metres. The rest were found across the broad trend, coincident with a surface gold anomaly.
“Evidence continues to mount for the potential of Great Western [hosting] a very significant gold mineralisation,” declared Gateway’s incoming chairman, Andrew Bray.
These nuggets are the latest ‘clue’ added to a growing Great Western wrap sheet. “We’ve already identified a new shear zone wrapping… the intrusion, extensive soil and lag gold anomalism over a 3.5km trend, multiple north-east cross-cutting structures, and now we can add a coincident large nugget haul.”
Gateway’s chairman highlighted the area hasn’t been historically drilled or sampled either, despite containing abundant quartz veining and sheet wash material.
“The large number of nuggets further confirms this area has been overlooked,” he explained. “It now represents an extremely compelling exploration target, particularly given any mineralisation is likely to be intersected near or at surface.”
Further soil sampling and mapping will now start up at Great Western after this hit, with the prospect’s western margin one highlighted target area.
Beyond that, HotCopper understands Gateway’s next-step drilling plans are still being formulated in-house through the rest of September and will be shared with the company’s shareholders “in due course.”
This nugget hit had the company excited, but markets were less impressed; GML has been down as much as -4.7% through Wednesday.
The gold explorer’s still in the green YTD, though, with a +195% advance.
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