The band's original frontman Phil Lynott died in 1986, three years after the release of their last album Thunder And Lightning, since which the band has continued under various lineups but failed to release any new material.
"That's the number one question we're getting from people, are you going to record some new material?" Gorham told Billboard, regarding the band's current lineup. "The fans seem to trust this lineup, and I don't blame them."
Gorham admitted that although nothing is set in stone, the band are the closest that they have been in a long time to re-entering the recording studio.
"Rick [Warwick's] written some f**king killer lyrics, and with the kind of talent that's in Thin Lizzy now I think we can pull off a really cool set of tunes," Gorham added. "At least it's something that we can think about now, where before it wasn't on the table."
The band currently consists of Gorham, Brian Downey, Def Leppard guitarist Vivian Campbell, keyboardist Darren Wharton, bassist Marco Mendoza and singer Ricky Warwick.
Former Thin Lizzy guitarist Gary Moore was found dead in February while holidaying in Spain, following which Bob Geldof paid tribute to him, calling Moore an "exceptional guitarist".