Gateway Mining Activates Four Rigs at Yandal Project

Gateway Mining is making significant strides in its exploration efforts at the Yandal Project, where it is now operating four drilling rigs. As of the end of the September 2026 Quarter, the company reported a robust cash position of $52.8 million, ensuring it is well-equipped for all planned exploration activities.

For investors, this development marks a transition from earlier delays to full drilling capacity, with attention now turning towards upcoming assay results.

Current Rig Operations

The current drilling lineup consists of three active rigs: two reverse circulation (RC) rigs, one diamond rig, and an aircore rig, with a fourth diamond rig expected to arrive shortly.

• Two RC Rigs: These rigs are actively exploring mineralization along the Cowza-Celia South trend.
• Diamond Rig: Currently operating at Cowza, focusing on understanding vein structures through twinning.
• Aircore Rig: Drilling multiple pipeline targets within the Yandal tenure, specifically splay structures of the Celia Shear.

Gateway’s CEO, Richard Pugh, expressed optimism about the progress being made: "We are confident that we now have the exploration program fully back on track and will be in a position to commence more regular updates for shareholders once assays start flowing in."

Rig Focus and Progress

Here's a closer look at the targets being pursued by each rig:

RC Rigs: Fast-Paced Drilling

Having switched to its third RC contractor, Gateway's two rigs are achieving impressive drilling rates of over 300 meters per day collectively. These rigs are crucial for following up mineralization discovered along the Cowza-Celia South trend.

Notably, the aircore rig previously achieved success in this area, completing mineral exploration during the year. Following the discovery announcement, the company faced some challenges, managing to complete only five holes in six weeks.

Diamond Rig Activities

At Cowza, the first diamond rig has begun drilling, aiming to twin the discovery hole CZRC057. This hole reported 9 meters at 7.5 grams per ton of gold within a broader intercept of 41 meters at 2.0 grams per ton, as per the September announcement. Twinning this hole is vital for understanding the orientation of the vein structures and mineralization, which will assist other rigs in effectively mapping the area.

Moreover, a second diamond rig is anticipated to arrive at the end of this week, focusing first on Horse Well to explore potential extensions to existing Mineral Resources.

Aircore Rig's Role

The aircore rig is returning to drill various pipeline targets within the Yandal tenure. This rig’s primary focus is on the splay structures of the prominent Celia Shear, and it is poised to enhance the pipeline of targets that Gateway is developing.

Understanding the Benefits of Multiple Drilling Methods

Each rig employed by Gateway Mining serves a specific purpose:

• Aircore: Utilized for testing pipeline targets and identifying further opportunities in the area.
• RC: Essential for following mineralization trends along the Cowza-Celia South.
• Diamond: Functions primarily to twin optimal discovery holes to provide clarity on vein orientations.

Twinning is an important process, as it consists of drilling a second hole close to a known discovery to clarify the mineralization’s orientation. This information is crucial for the effective planning of future drilling operations.

Looking Ahead: What’s Next for Gateway Mining

Moving forward, several key developments are anticipated:

• The arrival of the second diamond rig, expected in the coming days, which will kick off activities at Horse Well.
• Further updates will be shared by Gateway once the second diamond rig is operational.
• As assay results start to materialize, the company will provide more frequent updates to shareholders regarding their findings.

For investors, the forthcoming assay results will be pivotal, as they represent the data illuminating the findings from the drilling efforts at Yandal. Until these results come in, the count of operational rigs and drilling rates will serve as primary indicators of progress.

Your Opportunity to Stay Informed

With four active rigs at Yandal and a solid cash foundation of $52.8 million, Gateway Mining is set to advance its exploration initiatives following the Cowza discovery. The ongoing drilling program covers multiple techniques across the crucial Cowza-Celia South trend, Horse Well, and various pipeline targets.

Investors are encouraged to follow Gateway Mining (ASX: GML) for the latest updates and insights, as the Yandal Project unfolds its potential.