Highlights

  • Gateway reported a slower drilling start following its September 2026 Cowza discovery.
  • Two reverse circulation rigs were operating at a combined rate exceeding 300 metres per day.
  • A diamond rig began twinning the Cowza discovery hole, with another planned for Horse Well.
  • An aircore rig returned to investigate early-stage targets associated with the Celia Shear.
  • Gateway reported AUD 52.8 million in cash at September 2026 quarter-end.

Gateway Mining Limited (ASX:GML) is a Western Australian gold exploration company focused on its Yandal Gold Project in the Yandal Greenstone Belt. Its 2 November 2026 exploration update described a restart in drilling activity after contractor availability and difficult ground conditions delayed follow-up work at the Cowza discovery. The programme now combines reverse circulation, diamond and aircore drilling to investigate different parts of the Yandal system, while further assay results remain outstanding.

Drilling Activity Recovers Following Delays

The company reported that only five holes were completed during the six weeks after the Cowza discovery announcement on 2 September 2026. Gateway attributed the slow progress to drilling contractor difficulties and challenging ground conditions. The reverse circulation contractor now working at Yandal is the third engaged for the programme, illustrating the practical constraints affecting its schedule.

By 2 November, Gateway Mining Limited (ASX:GML) had two reverse circulation rigs operating on site, averaging more than 300 metres of drilling per day between them. A diamond rig had also arrived and started work at Cowza, while an aircore rig had returned to test earlier-stage prospects. A second diamond rig was expected later that week.

Cowza Follow-Up Tests Gold Structures

The renewed programme follows the Cowza discovery reported on 2 September 2026. Discovery hole CZRC057 intersected 9 metres grading 7.5 grams per tonne gold within a broader 41-metre interval grading 2.0 grams per tonne gold. These are reported drilling intervals, and the update does not establish their true widths or the full dimensions of the mineralised system.

Gateway Mining Limited (ASX:GML) is using the two reverse circulation rigs to follow up mineralisation along the Cowza–Celia South trend. The first diamond rig is drilling a twin of CZRC057 to provide additional information on the orientation of veins and mineralisation. The company expects that structural information to guide subsequent Reverse Circulation Drilling and help its geologists assess the geometry of the gold-bearing zones.

Horse Well and Earlier-Stage Targets

Once the second diamond rig arrives, Gateway intends to direct its initial holes towards potential extensions of existing mineral resources at Horse Well, within the Yandal tenure. The announcement did not provide revised resource tonnages or grades from this planned work. Any resource changes would depend on completed drilling, validated assays and subsequent estimation.

Gateway Mining Limited (ASX:GML) has also resumed aircore drilling on a pipeline of targets, primarily along splay structures branching from the regional Celia Shear. This work is intended to screen prospective areas and identify locations that Warrant more detailed follow-up. The programmes address discovery follow-up, resource extensions and new targets.

Funding Position and Upcoming Results

Gateway Mining Limited (ASX:GML) expects to provide more frequent updates once assay results begin to arrive. It also planned a further announcement following the mobilisation of the second diamond rig. Key near-term information will include the Cowza diamond twin-hole findings, drilling results from Horse Well and the outcomes of aircore testing across the pipeline targets.

Key Insights

Gateway Mining Limited (ASX:GML) has reported improved drilling capacity at Yandal following a period of contractor-related delays. Its 2026 programme now spans structural work at Cowza, proposed resource-extension drilling at Horse Well and testing of earlier-stage prospects. The restart is an operational development rather than a new mineral discovery. Future assay results and geological interpretation will determine whether the renewed activity adds meaningful evidence about the scale and continuity of gold mineralisation.