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Gateway Mining Says Western Australia Prospect Drilling Confirms High-Grade Gold Discovery in Fresh Rock; Shares Up 4%

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Gateway Mining (ASX:GML) said reverse circulation drilling at the Cowza Prospect, within its Yandal gold project in Western Australia, confirmed a high-grade gold discovery in fresh rock, according to a Wednesday Australian bourse filing.

This was the first drilling to test the primary gold system associated with the recently identified Cowza structure, the company said. It encountered an intercept of 41 meters at 2 grams per tonne (g/t) grade of gold from 104 meters, including 9 meters at 7.5 g/t grade of gold from 105 meters.

Reverse circulation drilling is continuing at the prospect, with diamond rigs also set to arrive, per the filing.

The mineral explorer's shares climbed nearly 4% in recent trading on Wednesday.

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