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- New Age Exploration (NAE) has commenced soil and rock chip sampling, as well as field mapping, at the Otago Pioneer Quartz and Lammerlaw projects in New Zealand
- Data from geological reviews conducted earlier this year highlighted significant areas for potential gold deposits within New Age’s permits
- These supposedly mirror the characteristics of the 10 million ounce Macraes gold deposit just 60 kilometres away
- New Age Exploration is eager to commence fieldwork now that COVID-19 restrictions have been lifted
- Company shares are up 20 per cent and are trading for 0.6 cents each
New Age Exploration (NAE) has commenced soil and rock chip sampling, as well as field mapping, at the Otago Pioneer Quartz and Lammerlaw projects in New Zealand.
Samples were identified from regional geophysical and other data examined at the Lammerlaw and OPQ projects in March and approximately 350 soil samples are planned along 17 lines.
Geological consultants, APSAR, completed a structural and lithological interpretation of high-resolution airborne resistivity and magnetics.
Pleasingly, the results highlighted significant areas of interest for potential gold deposits within New Age’s permits, which mirror the geological characteristics of the Macraes Mine.
Macraes is located just 60 kilometres away and hosted in the Hyde Macraes Shear Zone (HMSZ).
The Macraes gold deposit is the largest mine in New Zealand. It has produced more than four million ounces of gold since 1990.
Gold mineralisation at the 10-million-ounce Macraes gold deposits occur entirely within the Lower Greenschist Facies zone in the northeast part of the Otago Schist belt.
The company’s permits contain historic gold and scheelite workings, with minor copper, silver and mercury. Reportedly, a historic antimony lode also exists to the north.
New Age Exploration is eager to commence fieldwork now that COVID-19 restrictions have been lifted.
“NAE’s technical team are motivated after exiting COVID-19 lockdown to complete as much of the fieldwork as possible before the onset of winter conditions in both the Lammerlaw and OPQ permits,” Executive Director Joshua Wellisch said.
Company shares are up 20 per cent and are trading for 0.6 cents each at 2:12 pm AEST.
