- New Age Exploration (NAE) has begun an aeromagnetic survey across the Bullock Well Gold Project and granted areas of Quartz Hill gold projects in WA
- The survey will be flown over five exploration licences which are located within 50 kilometres from De Grey Mining’s (DEG) Hemi gold discovery
- Like many other ASX-listers, New Age Exploration is seeking “Hemi”-style intrusions in the area, as well as shear-hosted gold
- The survey is expected to be completed within five days and the data will be used to identify and prioritise targets for future exploration
- Company shares are down 11.8 per cent and are trading at 1.5 cents
New Age Exploration (NAE) has begun an aeromagnetic survey across the Bullock Well Gold Project and the granted portions of Quartz Hill gold projects in WA.
The survey will cover 210 square kilometres over five exploration licences within the highly prospective central Pilbara district.
Encouragingly, these projects are located around 50 kilometres away from De Grey Mining’s (DEG) Hemi gold discovery. Additionally, one of the tenements are situated immediately south of Novo Resources’ Egina Gold Project.
Interestingly, there haven’t been any detailed magnetic surveys previously flown over the projects which is said to be critical in finding potential intrusive “Hemi”-style gold targets.
Like many other ASX-listers, New Age Exploration is seeking “Hemi”-style intrusions in the area, as well as shear-hosted gold.
“The second phase aeromagnetic survey will provide a pipeline of exploration targets in the Pilbara as the field season commences,” Executive Director Joshua Wellisch said.
The company has engaged MagSpec to conduct the survey which is expected to be completed within just five days. After the program has wrapped up, final results will be received within three weeks to be processed and examined.
New Age will then use the data to identify and prioritise targets for future exploration programs.
Company shares are down 11.8 per cent and are trading at 1.5 cents at 1:52 pm AEST.