Gateway’s Bold Moves in Yandal: Can New Drilling Unlock Major Gold Discoveries?

Gateway Secures Strategic Gold Assets

Gateway Mining Limited has marked a significant milestone by completing the acquisition of the Yandal Gold Project from Strickland Metals Limited. This acquisition brings under Gateway’s control a JORC 2012 Inferred Resource of 400,400 ounces of gold, contained within 8.17 million tonnes at 1.52 grams per tonne. The project spans a vast 1,780 square kilometres on the eastern flank of the Yandal Greenstone Belt in Western Australia, an area Gateway describes as relatively underexplored with substantial upside potential.

Encouraging Exploration Results Highlight Potential

Recent exploration activities have yielded compelling results, including the recovery of 134 gold nuggets totaling 366 grams along a 1.2-kilometre strike of the Great Western splay corridor. These nuggets, found near surface and associated with quartz veining and sheet wash material, reinforce the geological model that structural deformation around the Great Western intrusive unit is conducive to high-grade gold mineralisation. Complementary geophysical surveys and soil sampling have delineated multiple target zones, such as Mustang Shear Zone and Dusk ‘til Dawn Gold Camp, where ongoing programs aim to expand the resource base.

Robust Drilling Programs Underway

Gateway has commenced an ambitious drilling campaign, including 4,600 metres of diamond drilling and a 44,000-metre aircore program. These efforts focus on testing newly identified structural corridors and mineralised trends, particularly along the Mustang Shear Zone and Great Western corridor. The drilling is designed to validate and extend known mineralisation, with the potential to significantly increase the resource inventory.

Capital Raising and Financial Position

To underpin its exploration ambitions, Gateway successfully completed a $22.5 million capital raising shortly after the quarter ended. This funding, supported by institutional and sophisticated investors as well as company directors, positions Gateway with approximately $13.1 million in combined cash and liquid ASX-listed securities. The company reported $668,000 in exploration expenditure during the quarter and maintains a strong financial footing to execute its 2025 and 2026 exploration programs.

Leadership Reshaped for Growth

Reflecting its growth trajectory, Gateway has restructured its board and management team, appointing Andrew Bray as Executive Chairman, alongside Non-Executive Directors Anthony McClure and David Morgan. Richard Pugh was named Chief Executive Officer. These appointments bring deep sector experience and a strong connection to the Yandal project, having been involved in its development since 2021. This leadership refresh aims to drive operational excellence and strategic exploration success.

Expanding Footprint with Glenburgh South Acquisition

In addition to Yandal, Gateway secured an 80% interest in the Glenburgh South Gold Project, covering approximately 620 square kilometres near Benz Mining Corp’s 510,000-ounce Glenburgh deposit. Historical exploration indicates promising gold anomalies, and Gateway has committed to $1.4 million in exploration expenditure over three years to advance this project.