- New Age Exploration (NAE) identifies new gold exploration targets at its Central Otago gold project in New Zealand
- The new targets were identified from recent field work in the the Otago Pioneer Quartz (OPZ) area, where sampling demonstrated high-grade potential
- Meanwhile, re-processed geophysics have grown the company’s understanding of the gold mineralisation, detecting further exploration targets
- As a result, several prospects now have high-priority drill targets that are untested
- Shares in the company are up 14.3 per cent to trade at 0.8 cents at 10:45 am AEST
New Age Exploration (NAE) has identified new gold exploration targets at its Central Otago gold project in New Zealand.
The new targets were identified from recent field work in the the Otago Pioneer Quartz (OPZ) area, where sampling demonstrated high-grade potential.
In addition, visible gold was noted in float samples found close to old workings.
The targets were detected over the six-kilometre OPQ Fault Zone and the adjacent narrow vein quartz lodes.
Meanwhile, re-processed geophysics has grown the company’s understanding of gold mineralisation, detecting further exploration targets.
As a result, several prospects now have high-priority drill targets that are untested.
NAE is continuing surface sampling and mapping to refine the drill-ready targets, with gold assays pending.
CEO and Executive Director Joshua Wellisch said the project presents an exciting opportunity.
“The utilisation of modern exploration techniques including the latest geophysical review has highlighted a significant increase in the overall target horizon for high-grade gold deposits,” he said.
“We look forward to conducting our maiden drill programme following the pending results and required field preparations.”
Shares in the company were up 14.3 per cent to trade at 0.8 cents at 10:45 am AEST.