Gateway Mining (ASX:GML) started a regional soil sampling program across its Glenburgh South Project in Western Australia targeting the Errabiddy and Northern Shear corridor trends, according to a Monday filing with the Australian bourse.
The program of more than 2,400 soil samples is designed to test about 50 kilometers of structural corridors interpreted from recent magnetic and remote sensing studies, per the filing.
The company said both target corridors occur within the same prospective host stratigraphy and along parallel structures to Benz Mining's (ASX:BNZ) tier 1 Glenburgh gold discovery, which it said delivered a more than AU$1 billion market capitalization for Benz over the past year.
Gateway remains well capitalized to undertake planned 2026 exploration with AU$15.1 million of cash and liquid securities at the close of June, it said.
Gateway Mining shares advanced 6% in recent Monday trade, while Benz Mining was more than 16% higher.