Abstract: A gate valve assembly (100) for use in subsea workover systems is disclosed. In an embodiment, the gate valve assembly (100) includes a valve block (102). The valve block (102) includes a cutting gate (204) disposed in a valve cavity (206) such that the cutting gate (204) can engage in a reciprocating motion in the valve cavity (206) between an “open” position and a “closed” position. The reciprocating motion of the cutting gate (204) results in a cutting operation of a tubing conveyed string passing through the gate valve assembly (100). The gate valve assembly (100) further includes a slug pit (202) formed in the valve block (102) alongside the valve cavity (206). The slug pit (202) defines an opening which can contain one or more cuttings from tubing conveyed springs resulting from the cutting operation. The reciprocating motion of the cutting gate (204) transports one or more cuttings of the tubing conveyed string to the slug pit (202).