Join our daily newsletter At The Bell to receive exclusive market insights
- New Age Exploration (NAE) has made moves towards securing a new gold project near De Grey’s (DEG) Hemi discovery in WA’s Pilbara region
- The company has applied for six exploration licences covering 1319 square kilometres, around 50 kilometres south of Hemi
- NAE will take steps through the September quarter to progress the granting of the exploration licences
- The newly named Quartz Hill project would represent a significant holding in a region which has lately caused a lot of excitement
- Based on survey data, NAE has identified a number of Hemi-style granitic intrusives, which are of a similar age and have comparable magnetic signatures
- Once the licences are granted, NAE can start making moves towards what could be another big discovery in the Pilbara
- New Age Exploration is trading 50 per cent higher at 1.2 cents
New Age Exploration (NAE) has made moves towards securing a new gold project near De Grey’s (DEG) Hemi discovery in WA’s Pilbara region.
The company has applied for a total of six exploration licences covering an area of 1319 square kilometres, around 50 kilometres south of Hemi and immediately adjacent to Kairos Mineral’s (KAI) Croydon project.
Promising prospects
NAE will take steps through the September quarter to progress the granting of the exploration licences, including proposed site inspections of specific target areas.
The newly named Quartz Hill project would represent a significant holding in a region which has lately caused a lot of excitement.
The licence areas are largely underexplored, with only geological mapping by the Geological Survey of WA available.
Next steps
Based on the survey data, NAE has already identified a number of Hemi-style granitic intrusives, which are of a similar age and have comparable magnetic signatures.
NAE Executive Director, Joshua Wellisch says the Pilbara prospects are a great acquisition for the company.
“While it is at an early stage, we are very excited to have secured multiple gold targets in such a prospective part of the Central Pilbara,” Joshua said.
“The recent discovery of significant gold mineralisation (Hemi) in a new style of deposit for this region by De Grey Mining has highlighted the potential endowment of these late intrusives,” he concluded.
Once the licences are granted, NAE can start making moves towards what could be another big discovery in the Pilbara.
Nearing Thursday’s close, New Age Exploration is trading 50 per cent higher at 1.2 cents.
