New Age on track for lodes more gold at giant new Manorburn Gold Project
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The Manorburn project covers an area of 235.7sqkm situated immediately adjacent to the headline Bendigo-Ophir Gold Project in New Zealand’s most highly endowed, yet underexplored gold-bearing region.
In one mega hit, New Age Exploration has expanded its landholding within the Central Otago Belt in New Zealand after securing prospecting permit PPA60716 over the Manorburn Project.
The new landholding covers an area of 235.78km – immediately adjacent to Santana Minerals’ (ASX:SMI) Bendigo-Ophir Gold Project.
With its existing OPQ and Lammerlaw projects, the company’s footprint in the Central Otago region now totals 558km.
New Age Exploration (ASX:NAE) executive director Joshua Wellissch said the granting of the Manorburn permit strengthens the company’s position in New Zealand where it already has a well-advanced gold exploration program for Macraes-style orogenic gold mineralisation.
The Central Otago schist/gold belt is regarded as one of the most highly endowed and yet little understood regions in New Zealand.
The World Class Macraes gold deposit is the largest active gold mine in New Zealand with a combined production and mineral resource totalling more than 10 million ounces of gold.
Exploration activity in the region has increased significantly in recent times with the discovery of the Bendigo-Ophir Deposits by Santana Minerals.
A multi-disciplinary geoscientific exploration effort is now in progress with the company carrying out a detailed assessment of all available geophysical data ahead of a planned geological field mapping to begin sometime this quarter.
Regional scale and detailed surface geochemistry surveys, as well as drill testing of key target areas, will be carried out at some point this year as well.
This article was developed in collaboration with New Age Exploration, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.