Highlights
- Gateway Mining (GML) to acquire major gold project from Strickland Metals (STK)
- $45 million share-based deal expands footprint in WA’s Yandal greenstone belt
- New drilling plans and exploration initiatives scheduled into 2026
Gateway Mining (ASX:GML) is set to significantly enhance its gold exploration presence in Western Australia, following a binding agreement to acquire the Yandal gold project from Strickland Metals (ASX:STK) in a deal valued at $45 million. The transaction will be executed through share issuance and is expected to complete by the second half of August, pending shareholder approval from both companies.
A Major Step into the Yandal Greenstone Belt
The Yandal gold project encompasses a vast area of 1,780 square kilometres along the eastern flank of the Yandal greenstone belt—part of the renowned Yilgarn Craton in WA. This region is considered highly prospective, yet large portions remain underexplored, providing ample upside for future gold discoveries.
Initial development efforts will focus on advancing the mining licence application for the Horse Well deposit, which currently hosts a 291,500-ounce gold resource. Strickland Metals has already initiated this process and identified regional toll treatment options that could expedite production once mining begins.
Strategic Expansion and Future Exploration
Gateway’s acquisition is viewed as a strategic leap, especially considering the combined resource base and exploration potential. With the Yandal project already featuring a defined inferred resource of 8.17 million tonnes at 1.52g/t for 400,400 ounces, it offers an established platform for resource expansion.
Several high-priority drill targets have been identified across the project, particularly at the Dusk 'til Dawn prospect. Gateway plans to begin drilling in late 2025 or early 2026, aiming to unlock further mineralisation across the largely underexplored 75km greenstone corridor—of which less than 6km has seen modern exploration.
Strong Funding and Regional Synergy
Gateway Mining remains well-capitalised to pursue its extended exploration program. As of the March quarter, the company reported cash and liquid assets totalling approximately $13.6 million. This financial strength supports a robust pipeline of exploration activities not only at Yandal but also at its existing Montague and Barrelmaker projects in the Sandstone region.
While neither Gateway Mining nor Strickland Metals currently falls under the ASX 200 index category, the scale and ambition of this acquisition represent a noteworthy development in Australia’s mid-tier gold exploration landscape.
With strategic positioning in one of Western Australia’s most prospective goldfields and a solid resource base, Gateway Mining’s expansion marks a critical milestone in its growth trajectory, setting the stage for a new chapter in the company’s exploration journey.