Gateway Mining to acquire Yandal gold project in Western Australia for $29 million

From Yahoo Finance: 2025-06-30 10:38:00

Gateway Mining is set to acquire Strickland Metals’ interest in the Yandal gold project in Western Australia pending shareholder approval. The deal includes an inferred resource of 400,400 ounces of gold. Gateway will issue $29.3m worth of convertible preference shares to Strickland and focus on obtaining necessary approvals. The transaction will be completed in August 2025.

The Yandal gold project covers 1,780km² along the Yandal Greenstone Belt. Gateway plans to apply for a mining license at the Horse Well Gold Camp and prioritize environmental and Native Title surveys. Strickland Metals commissioned Trepanier to estimate the mineral resource at the Dusk ’til Dawn prospect, revealing an inferred resource of 108,900oz of gold.

Gateway intends to conduct detailed mapping, sampling, and angled aircore drilling to expand the mineral inventory at the Yandal gold project. The exploration strategy aims to uncover potential for large intrusion-related gold deposits. The company plans to start drilling at Yandal in late 2025 or early 2026 and is financially sound with $13.6m in cash for exploration activities.

The acquisition also includes the Iroquois project, managed by Strickland, which is considered highly prospective for zinc-lead discoveries. Gateway Mining’s strategic move to acquire the Yandal gold project in Western Australia for $29m is a significant development in their exploration plans.



Read more at Yahoo Finance: Gateway Mining to buy Yandal gold project in Western Australia for $29m