New Age wraps up drilling at ‘Hemi style’ gold targets, results pending
Link copied to
The maiden drilling program tested a number of ‘Hemi Style’ intrusions, right next door to De Grey’s ground in WA’s Pilbara region.
The drilling followed recent detailed aeromagnetic data that highlighted several gold targets over the northern package of New Age’s Pilbara gold projects – ~50km from the monster Hemi discovery — which is under option with CSE-listed Monterey Minerals.
This data identified a number of discrete, circular magnetic anomalies on licences E47/5064, E47/5065 and E47/3958 with characteristics similar to the Hemi magnetic signature.
The New Age team made quick time in arranging for these high priority anomalies to be tested by securing a KL-150 Moorooka Track Drill to complete shallow aircore drilling to between 50-120m in depth. New Age reported that quartz was present in most holes within the upper clays with results now eagerly awaited to help guide follow up drill programs.
Profile modelling completed over several discrete intrusion style anomalies suggest depths of magnetic bodies from 10m to 150m (mostly < 75m), with some larger magnetic anomalies having depths of 350m.
The survey results also delineated major structures within the granite bodies which may have some prospectivity to host gold mineralisation.
“We are very pleased to have finalised our maiden drilling program at this point of the exploration program. Our team pushed hard to secure the Track Drill and get cracking with this exciting prospect.” NAE exec director Joshua Welllisch says.
“Once initial results are received from the lab in the coming weeks, they will be interpreted by our team to determine our next stages of exploration on all fronts in the Pilbara.”
With cash in hand, NAE is set to be busy exploring on a number of fronts in the Pilbara, with a 220km2 aeromagnetic survey recently identifying a slew of potential targets at its 100 per cent-owned Bullock Well and Quartz Hill gold projects to the south.
On top of that is an exploration package on New Zealand’s South Island, comprising the Lammerlaw and Otago Pioneer projects down the road from the 10Moz Macraes gold mine.
A maiden drilling campaign is being prepared at Lammerlaw on the back of identifying two gold-arsenic anomalies in a recent soil sampling program.
This article was developed in collaboration with NAE, 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.