New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to announce that following a number of soil sampling campaigns, geological mapping, and interpretation of geophysical data, 9 high-priority drill targets have been identified.
These drill targets are planned to test gold, arsenic, antimony, and tungsten anomalies in soil samples, structural trends from regional airborne geophysics and interpretation of historical mining data. Over the next 6-8 weeks NAE will complete the final geochemistry work on samples, negotiate access and engage drill contractors. Drilling is planned for Q1 2025.
Highlights:
- NAE has defined 9 high-priority drill targets based on geochemical surveys and geological interpretation within the Lammerlaw Permit
- Drilling is planned for Q1 2025 with access arrangements and appointment of drilling contractors in progress
- Previous mining in the area produced ~150 tonnes of high-grade stibnite (over 50% antimony) and included gold grades of 2oz/t
- Antimony strike up to ~2km with mineralisation open to the east and west
- Planned drilling will target gold, antimony, and tungsten anomalies identified through soil geochemistry and historic workings, offering the potential for high-value mineral discoveries
- Results from an additional 140 soil samples are pending, which will help refine and extend the drill targets, potentially unlocking more mineralised zones
NAE Executive Director Joshua Wellisch commented: "We are excited to announce the significant progress made at the Lammerlaw Project in New Zealand, where we’ve identified nine high-priority drill targets for gold and antimony exploration. The historical data combined with our recent geochemical surveys have revealed the potential for substantial high-grade mineralisation.
The Lammerlaw Project offers a unique opportunity for NAE. It has a 2km antimony strike, historically mined high-grade stibnite, and ongoing soil sampling indicating strong gold and tungsten anomalies. Our exploration strategy, which includes planned drilling in early 2025, positions NAE at the forefront of tapping into this high-value resource.”
NAE looks forward to testing the strongest anomalies identified to date in the Lammerlaw permit with RC drilling in Q1 2025.
With the global demand for critical minerals such as gold and antimony on the rise, NAE is confident that the Lammerlaw Project will become a cornerstone of the Company’s future growth, driving value for our shareholders.
Link to ASX Release:
About us:
New Age Exploration (ASX:NAE) is an Australian-based, globally diversified minerals and metals exploration and development company focused on gold and lithium projects. The Company’s key activities include advancing its exploration projects in the highly prospective gold and lithium Pilbara district of Western Australia and the Otago goldfields of New Zealand.
For more information, please visit nae.net.au.
Contact details:
Joshua Wellisch | Executive Director
+61 3 9614 0600
[email protected]
Mark Flynn | Investor Relations
+61 416 068 733
[email protected]
