Gateway will begin to drill at Yandal in late 2025 or early 2026.
Under the terms, Gateway will issue A$45 million ($29.3 million) in 1.5 billion convertible preference shares to Strickland. The deal involves transferring joint venture obligations and securing necessary approvals, with completion expected in late August 2025.
Located along the eastern flank of the Yandal Greenstone Belt, the Yandal project spans 1,780 km². Gateway’s initial focus will be securing a mining license for the Horse Well Gold Camp, where Strickland has already conducted environmental and Native Title surveys to advance development.
Strickland Metals engaged Trepanier to assess the Dusk ’til Dawn prospect within the Yandal project, estimating an inferred resource of 108,900 ounces of gold. This prospect is part of a larger orogenic gold system, with significant potential for expansion westward. Geochemical zonation and gravity inversion modeling suggest untested intrusive units at the core of the hydrothermal system, pointing to the possibility of large intrusion-related gold deposits.
Gateway plans to implement a detailed exploration strategy, including mapping, sampling, and angled aircore drilling to expand the mineral inventory. Drilling is scheduled to commence in late 2025 or early 2026. “The acquisition of the Yandal project strengthens our portfolio and positions us to unlock significant value through focused exploration,” a Gateway spokesperson stated.
The acquisition also encompasses the Iroquois project, north of Yandal, where Strickland holds an 80% interest and manages the joint venture. This area is considered promising for zinc-lead discoveries, enhancing the overall value of the deal.
As of March 2025, Gateway reported a strong financial position with A$13.6 million in cash and liquid securities listed on the Australian Securities Exchange, ensuring sufficient funding for its planned exploration activities in 2025 and 2026.
The Yandal acquisition aligns with Gateway’s strategy to expand its presence in Western Australia’s mineral-rich regions, leveraging existing resources and infrastructure to drive future growth in gold exploration and development.
