InvestSMART

Gateway Mining Limited (ASX:GML)

ALERT: Price-sensitive ASX Announcement for GML
Current share price for GML : $0.051 -0.019 (-27.14%)+
Announcement
Release
18 Mar 2026 8:34AM
Price at Release
$0.070
Full Release
download
Summary
Gateway Mining Limited has identified a new prospect, the Rubicon Prospect, situated along the Mustang Shear Zone, which shows promising potential for gold deposition due to structural rotation facilitating hydrothermal fluid flow. Aircore drilling has outlined a significant zone of gold mineralisation over a 700-meter strike length within a broader mineralised shear exceeding 3km. This zone is anticipated to contain higher-grade stacked lodes, similar to the mineralisation style at Haflinger. The deep weathering profile, with many drill holes ending in saprolite, suggests significant potential for deeper and lateral extensions. Both aircore rigs have moved to test the Great Western target, with plans for additional drilling at Rubicon to refine the gold trends for subsequent RC drilling. The Yandal Project is emerging as a potential new Gold Camp, providing opportunities for resource growth.
Key Points
  • The Rubicon Prospect is positioned on a segment of the Mustang Shear Zone where the structure rotates, likely resulting in increased dilation favourable for hydrothermal fluid flow and gold deposition.
  • Mineralisation occurs in a highly sheared, silica-flooded portion of the weathered shear zone at Rubicon.
  • Aircore drilling at Rubicon has delineated significant gold mineralisation over a 700m strike length.
  • The broader mineralised shear zone at Rubicon exceeds 3km in strike and is expected to host multiple higher-grade stacked lodes.
  • The weathering profile at Rubicon is deep, with most AC holes terminating in saprolite, leaving substantial potential for extensions at depth and along strike.
  • Aircore drilling of the Mustang shear has been completed, and rigs are now mobilised to the Great Western project.
  • Infill drilling is planned to delineate gold trends at Rubicon for follow-up RC drilling.
  • The aircore program has been successful, identifying multiple gold mineralised trends and shaping the area as an emerging Gold Camp.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.