Gateway Mining Extends Cowza Gold Strike to 2.5km With Fresh Rock at Depth
Gateway extends Cowza gold system to 2.5km of continuous high-grade strike
Gateway Mining has extended the Cowza gold discovery at its Yandal Gold Project in Western Australia from 800m to approximately 2.5km of continuous high-grade gold mineralisation. Step-out drilling has returned consistent gold intercepts on every drill line, with the standout result coming from hole CZAC071, which returned 27m @ 1.4g/t Au from 84m to bottom of hole — the first hole to properly test mineralisation in fresh rock. The discovery sits within a broader 4.5km strongly demagnetised, structurally complex zone. Gateway (ASX: GML) released the results on 21 July 2026.
When big ASX news breaks, our subscribers know first
The step-out drilling results driving the re-rate story
Follow-up aircore drilling has delivered consistent high-grade gold intercepts across every drill line, confirming the continuity of the Cowza system. The results demonstrate that mineralisation extends significantly beyond the initial 800m strike identified in the 22 June 2026 maiden discovery announcement.
| Hole ID | Intercept | Grade | From (m) | Note |
|---|---|---|---|---|
| CZAC071 | 27m | 1.4g/t Au | 84m | To BOH, fresh rock; last 1m @ 3.3g/t |
| CZAC069 | 16m | 1.9g/t Au | 88m | Footwall target |
| CZAC051 | 16m | 1.3g/t Au | 68m | — |
| CZAC070 | 8m | 2.2g/t Au | 76m | incl. 4m @ 3.9g/t |
| CZAC066 | 13m | 1.2g/t Au | 140m | incl. 5m @ 2.8g/t Au |
The significance of CZAC071 cannot be overstated. This hole represents the first proper test of the gold system in fresh rock, with the intercept terminating at bottom of hole still within the mineralised shear zone. The final metre returned 3.3g/t Au, suggesting the high-grade core of the system remains open at depth. Previous aircore drilling had been “clipping” the system in shallower supergene material, but CZAC071 confirms there is substantial primary gold mineralisation beneath.
Why the geology points to a large system
The Cowza discovery is hosted within a major shear zone developed along the contact between intermediate volcanic rocks and a mafic volcanic sequence. This geological setting is a classic structural trap for gold mineralisation in the Yandal Belt. The mafic-intermediate contact acts as a mechanical boundary where gold-bearing fluids have been channelled and deposited during large-scale hydrothermal events.
The demagnetised corridor provides strong evidence for the scale and intensity of the hydrothermal system. Magnetite, a magnetic iron oxide mineral, has been destroyed across a 4.5km zone by the same fluids that deposited the gold. This destruction of magnetite leaves a distinctive magnetic “low” signature that can be mapped using geophysics, providing a reliable exploration guide. The widespread demagnetisation indicates a long-lived, large-volume fluid event — the type that typically accompanies significant gold systems.
Two key target structures are emerging within the 2.5km of defined strike:
- Primary Shear Zone Target — Intersected by CZAC071, this structure hosts the high-grade core of the system and remains completely open into fresh rock at depth.
- Footwall Target — A sub-parallel shearing zone within the intermediate volcanic package, highlighted by CZAC069, which returned 16m @ 1.9g/t Au from 88m beneath a shallower supergene intercept of 12m @ 0.5g/t Au from 48m.
The predictability and continuity of these structures along strike de-risks future drilling and points to the potential for a large-scale gold system.
Management’s view on scale
Chief Executive Officer Mr Richard Pugh
“This is the first hole to properly test within fresh rock at Cowza, suggesting that the system we have been ‘clipping’ with the aircore rig is going to have significant substance at depth along strike.”
“It is believed that the same hydrothermal fluids that de-magnetised the rocks are the same fluids that deposited the gold, suggesting that Cowza is shaping up to be a very significant high-grade gold system of substantial scale.”
The next major ASX story will hit our subscribers first
What’s next: second rig, pending assays and a funded program
Gateway is moving quickly to capitalise on the discovery momentum. Key catalysts and timelines include:
- Second RC rig arrives on site this weekend and will immediately commence drilling at Cowza to map out the fresh-rock mineralisation footprint.
- Drilling continues approximately 2km to the north, where every drill line has intersected similar consistent shearing, veining and alteration. Assays are pending and expected within a fortnight.
- Both the Primary Shear Zone Target and the Footwall Target remain untested by deeper drilling along the majority of the 2.5km strike, providing a clear runway for expansion.
Gateway remains well capitalised with $15.7m cash and $5.6m in liquid ASX securities as at the end of the March 2026 quarter (Q3 FY26). The company is fully funded to pursue its 2026 exploration program without near-term dilution pressure, allowing it to advance Cowza aggressively while maintaining financial flexibility.
Don’t Miss the Next Mining Breakout
Join 20,000+ investors receiving FREE breaking ASX news and in-depth analysis delivered to your inbox within minutes of release. Get the story behind every market-moving announcement before the crowd reacts. Click the “Free Alerts” button at StockWire X to start receiving real-time mining alerts the moment news breaks.