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Gateway Mining Intersects Gold Mineralization at Western Australia Project; Shares Up 6%

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Gateway Mining (ASX:GML) intersected gold mineralization linked with a broad zone of shearing, quartz veining and alteration at its Yandal project in Western Australia, according to a Monday filing with the Australian bourse.

The results, which extend the Cowza discovery to 3.5 kilometers of continuous strike, include 4 meters at 11.1 grams per tonne (g/t) grade of gold from 72 meters, 8 meters at 3.1 g/t grade of gold from 76 meters, and 4 meters at 3.3 g/t grade of gold from 80 meters, the filing said.

A second drill rig will start drilling this week to define the scale of the mineralized footprint in fresh rock at the discovery, per the filing.

Shares rose nearly 6% in afternoon trade Monday.

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