HIGHLIGHTS
- Drilling underway at NAE’s Lammerlaw Project in New Zealand, targeting high-priority gold and antimony anomalies.
- Nine high-priority drill targets identified from geochemical surveys, geological mapping, and historical mining data.
- Significant mineralisation potential with a 2km antimony strike and historical production of high-grade stibnite and gold.
- Results to guide next exploration phase of drilling.
New Age Exploration (ASX: NAE) (NAE or the Company) is pleased to announce the commencement of drilling at its Lammerlaw Project in New Zealand. The drill program is Phase 1 of a two-phase program to test nine high-priority targets identified through extensive geochemical surveys, geological mapping, and geophysical data interpretation.
The phase 1 drilling programme at Lammerlaw, Permit 60807, is focused on confirming the style of mineralisation that gives rise to gold, antimony, and tungsten anomalies identified in soil sampling and at historical workings. The Lammerlaw Project hosts several west-northwest mineralised zones sub-parallel to foliation in schist and airborne geophysical trends. The mineralised zones are defined by NAE soil samples, a compilation of previous exploration data, survey of historic workings and are approximately 4 km long.
The Lammerlaw permit is primarily covered by a layer of loess (windblown silt), typically 1-5m deep, that sits on a thin zone of weathered schist and conceals mineralisation. Hand augers are used for soil sampling to penetrate the loess. This means that most soil anomalies are buried and cannot be found by surface sampling, and the thin zone of weathered schist means that supergene mineralisation is not well developed.
NAE Executive Director Joshua Wellisch commented: "We are excited to commence drilling at the Lammerlaw Project, where historical mining and modern exploration have highlighted the strong potential for high-grade gold and antimony mineralisation. This drill program is a key step in advancing the project and unlocking value for our shareholders."
MAP: The NAE Lammerlaw permit occurs in the southern limb of a regional fold feature characterised by a change in metamorphic grade from upper greenschist (purple) to lower greenschist (green). At Macraes, mineralisation occurs in shear zone features truncated by structures controlling the change in metamorphic grade.
Read Full ASX Announcement here:
Drilling Commences at Lammerlaw Gold and Antimony Project, NZ
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]