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Goldman Maiden drilling confirms gold mineralisation along previously untested contact zone at Gateway Mining’s Cowza prospect
Gateway Mining Ltd (ASX:GML) has reported a new high-grade gold discovery at its Cowza prospect within the Yandal Gold Project in Western Australia, with maiden drilling intersecting gold mineralisation along a previously untested mafic-intermediate volcanic contact.
The initial drilling program targeted a geological setting considered highly prospective for gold mineralisation but not previously tested by historic exploration. Results confirmed mineralisation over an 800-metre section of a structure interpreted to extend for approximately 2.5 kilometres and remain open in both directions.
Key drill results reported include:
- CZAC017: 4m at 4.7g/t Au from 96m
- CZAC028: 4m at 3.0g/t Au from 76m
- CZAC040: 46m at 0.4g/t Au from 68m to end of hole, with the hole terminating in silica-flooded sheared mafic rocks containing mineralisation above the target contact structure
Gateway said all historic drilling at Cowza had been positioned too far west in the footwall sequence, leaving the primary contact untested until the current program.
The company noted that Cowza is located around 4.5 kilometres south of the recently reported Celia South results and sits on the same structural trend. Management believes the geological setting shares similarities with the Millrose Gold Deposit further south, with historic drilling at Cowza occupying a position analogous to the Millrose West Deposit.
The latest results add to a growing list of prospects being advanced across the Yandal Project, with further assay results expected from the Great Western prospect this week. Gateway also plans to increase exploration capacity, with a reverse circulation rig mobilising shortly and a second rig expected early next quarter.
At the end of the March 2026 quarter, the company reported cash holdings of $15.7 million and liquid ASX-listed securities valued at $5.6 million.
Gateway Mining Chief Executive Officer Richard Pugh said:
Testing the mafic-intermediate contact at Cowza – widely recognised as the optimal setting for gold mineralisation across the Yandal Project and previously untested at the prospect – has immediately delivered promising high-grade intercepts in the right structural position.
The main Cowza structure is defined over approximately 2.5km, truncated by NE trending structures to the north and south. This first pass drilling has tested only an 800m portion of the structure, with all three drill lines returning mineralisation.
For those shareholders who have been with us over the long term, many will remember the success Strickland had with the Millrose deposit, which lies approximately 25km to the south of this drilling. Cowza and Millrose show remarkable similarities geologically, structurally, visually and now with confirmed mineralisation. All the historic drilling at Cowza is analogous to the Millrose West gold deposit (ie all in the footwall of the primary target).
The results in holes CZAC017 and CZAC028 are comparable to the initial holes that led to the Wanamaker discovery at the northern tip of Millrose, where very high-grade mineralisation was intersected over the flexure in the shear zone (the shear zone begins to flexure immediately north of CZAC017 and continue on for approximately 1.2km).
