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GATEWAY MINING LIMITED — AGM Information 2008
Nov 26, 2008
64999_rns_2008-11-26_6fa89326-4cb4-4c7e-9b30-a5181d4595dd.pdf
AGM Information
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Gateway Mining Limited
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Annual General Meeting 27[th] November 2008
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ASX CODE: GML
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Project Locations
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Exploration
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The Way Forward
-The Company has advanced Projects that require substantial exploration expenditure
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- The Company actively seeks cashed up Joint Venture parties to fund exploration
- The Company is developing further projects in its own right that may later be attractive to other JV partners.
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Future Exploration
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Joint Ventures
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- In the Last 12 months joint ventures funded by the other party have been;
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- Cowra: Minotaur JV Ongoing - Gidgee: Legend JV Ongoing - Gidgee: WCP JV Withdrew - Surprise: Minotaur JV Withdrew
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COWRA PROJECT
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Gateway/Minotaur/Mitsubishi Joint Venture
- Exploring for copper-gold in the Molong Volcanic Belt, host to the 30 million oz Newcrest Cadia/Ridgeway operations.
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- The Cowra Tenements are the least explored area in the Belt. These contain large complex intrusives with associated skarn development along the edges of the parent granite.
- Recent drilling by the JV partners has intersected skarn-style alteration, with associated elevated copper
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Kiola
Prospect
Balbardie
Prospect
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COWRA PROJECT
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Gateway/Minotaur/Mitsubishi Joint Venture – Quote from ASX release
- Results from drilling at the two prospects confirm the presence of significant sulphide alteration within the Cowra project. In particular the presence of massive sulphides, including chalcopyrite, and skarn-type alteration at Kiola supports our exploration model and verifies the copper-gold prospectively of the region.
-In 2009 the Joint Venturers are planning over 350 square kilometres of airborne EM surveys to help identify the presence of large sulphide-bearing orebodies within the project area, to be followed up by the RC drill testing of the highest priority targets.
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COWRA PROJECT
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Chalcopyrite – pyrrhotite mineralisation in KIORC003, 202.6 to 202.7m
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COWRA PROJECT
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Kiola Drilling: 2008
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SURPRISE PROJECT
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Surprise Project: Eastern Succession, Mt Isa area Queensland
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- The Eastern Succession contains a number of significant Cu & Cu-Au deposits, including Ernest Henry
- The Surprise Project , located over historic copper workings, was joint ventured to Minotaur Exploration throughout the year
- Minotaur initially carried out gravity and IP surveys
- A six hole RC drilling programme, targeting IP geophysical anomalies, intersected anomalous copper, including 4m @ 0.86%
- Deeper gravity anomalies are yet to be drill tested
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An EM survey carried out after the drilling has also delineated a
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number of targets, which are as yet untested
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SURPRISE PROJECT
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Surprise Project: Mt Isa area Queensland
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- Minotaur withdrew from all their Queensland joint ventures post year end, which included the Surprise JV
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- Gateway has since applied for a third EPM, adjacent to the current EPM 9053 & 13677 and are awaiting grant.
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Gateway is currently reviewing all exploration data,
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with a view to further drilling
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GIDGEE PROJECT, WA
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Overview
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Includes approximately 300km[2] of tenements over the
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Gum Creek Greenstone belt
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Considered prospective for gold, copper and nickel
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- Significant exploration success for copper and gold
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- Gateway will be rationalising its tenement holdings and will actively be seeking new JV partners to control expenditure
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GIDGEE PROJECT, WA
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Gidgee project areas and prospect
locations
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AIRPORT AREA
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Overview
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This is an advanced project that is located over a group of oxide gold deposits
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mined in the 1980’s by Herald Resources, who still retain a free carried interest in a number of the tenements
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Ongoing success by Apex in delineating additional gold zones at their Gidgee
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Project underlines the prospectivity of the area for high-grade gold resources
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WCP Resources withdrew from the JV post years end after completing drilling,
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and commissioning an independent technical report for future drill planning
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WCP withdrew from a number of other exploration projects in the same period
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As reported last year, results from WCP’s drilling were very encouraging,
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including 22m @ 14.95g/t gold from an existing resource under the Whistler pit
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The drilling resulted in other encouraging intersections, and Gateway believes
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there is the potential for significant sulphide gold resources in the Airport area
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Gateway is currently reviewing all data, with a view to planning the next stage of
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exploration
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We are also looking for JV partners
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MONTAGUE AREA
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Montague area, showing drilling results – WCP in red, historic in black
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THE CUP
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Overview
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- A new copper discovery by Gateway, initially intersected in aircore drilling
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Follow up RC drilling during 2007/2008 has intersected
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significant copper, including 30m @ 1.0% Cu in hole GRC183
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Intersected over a strike length of 350m to date, and open to the
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north, south, and down dip to the west
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Mineralisation dominated by chalcocite, a secondary copper
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sulphide, which can be extracted by simple leaching
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The prospect now needs significant RC and diamond drilling, to
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determine the limits and style of mineralisation
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A JV partner is being sought to continue work on the project
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THE CUP
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The Cup drillhole plan & section 8000N
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JULIA’S FAULT
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Overview
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A virgin gold discovery by Gateway, originally intersected in RC
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follow up of RAB anomalies
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Follow up RC drilling during 2007/2008 has confirmed the results
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of earlier RC drilling
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- Gold has been intersected in widely spaced holes over a strike length of 950m to date, and a number of holes have been terminated in mineralisation due to drilling difficulties
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Located NNE of The Cup, and possibly on the same structural zone
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The prospect now needs significant RC and diamond drilling to
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determine the limits of mineralisation
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A JV partner is being sought to continue work on the project
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JULIA’S FAULT
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Julia’s Fault drillhole plan showing gold intersections
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JULIAS FAULT
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Julia’s Fault section 9000N
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Other prospects
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Other prospects
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- Victory Creek – gold mineralisation requiring further drilling
- Barrelmaker area – prospective for both nickel and gold – contains a number of komatiitic basalt flows, similar to those hosting Kambalda style mineralisation
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- Drilling at the Legendre and Crater Prospects in the Barrelmaker area has intersected komatiitic basalts, exhibiting cumulate and spinifex textures
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This drilling has also intersected elevated Ni and Cu, although
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these possibly reflect background for these rock types
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- Aircore drilling by Legend Mining on the West Bungarra JV has intersected slightly anomalous PGE’s associated with ultramafic intrusives
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HODGKINSON BASIN
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Projects joint ventured to Republic Gold Limited for 1,350,000 shares and a 6% free carried interest to a decision to mine Total measured indicated and inferred resource of 37,000 ounces delineated at Reedy 8A and Hurricane
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Previous drilling returned 20 m @ 2.2 g/t gold at Campbell Creek within 1.5 km gold anomalous zone. Requires further testing
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GATEWAY MINING
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CONTACT DETAILS:
Dr Robert Creelman, Technical Director
Phone: 02 9283 5711; 0419 494 013 Website: www.gatewaymining.com.au
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ASX CODE: GML
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