Friday, 15th September 2006 (2431 views)

Gateway Gold has announced that it has completed the first drill hole to test for mineralisation at its site.

The Deep Sammy project is located in Nevada, USA. This latest spate of drilling was designed to intersect the Brien's fault, a gold bearing structure which cuts through the Lower Plate Hanson Creek formation.

Gateway reports that the hole failed to hit its target, intersecting the Lower Plate rocks 200 metres to the east because of the levelling out of the Brien's fault at depth.

Despite this, significant values were found at the point where the hole cut through the mineralised fault.

Drilling over 45 feet returned an average grade of 1.32 grams per tonne of gold (g/t Au) including 4.25 grams per tonne of gold over five feet.

President of Gateway, managing director McInnes commented: "The fact that the Brien's fault is gold-bearing at this depth is very encouraging.

"Our next hole will penetrate the area where the fault transects the Lower Plate. I am quite excited about the potential for a gold discovery in this next hole."

 

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