New Age Exploration Projects
NAE has rapidly assembled a large 1,863km2 tenement package in the highly competitive Central Pilbara district of Western Australia located ~50km from De Grey Mining’s exciting Hemi gold discovery through a combination of NAE Exploitation Licence applications and acquisition of granted Exploration Licences from Monterey Minerals Inc.
Most of NAE’s Pilbara Gold Project tenements contain margins of Sisters Supersuite granite intrusions which are targets for intrusive-related (Hemi style) gold mineralisation. The tenements are also prospective for structurally hosted gold mineralisation. The Exploration Licences acquired from Monterey in late September 2020 provide immediate access for NAE and a first phase exploration program is planned to commence in 2020 Q4.
NAE’s Lammerlaw Prospecting Permit covers a large 265km2 area in the Lammerlaw Ranges which is prospective for Macraes style (>10Moz) shear hosted gold targets. The Lammerlaw Permit contains historic gold, scheelite and antimony workings and New Zealand’s largest alluvial gold deposit, Gabriels Gully (>0.5Moz produced), is located ~3km directly to the south with the source of the gold remaining unidentified.
Anomalous gold and arsenic results were received from initial soil sampling program undertaken in June 2020 indicating potential for shear hosted gold mineralization along metamorphic boundaries in both Lammerlaw & OPQ Permits.
The Otago Pioneer Quartz (OPQ) Gold Exploration Project is located on NAE Exploration Permit 60502.
NAE has defined a ~6km long soil gold anomaly around the historic Otago Pioneer Quartz (OPQ) mine located on its OPQ Exploration Permit (60502). The OPQ mine was mined over 100 years ago averaging 2m wide, to a depth of 65m, over a strike length of at least 1,200m at an average grade of ~13 g/t Au. The OPQ permit is also prospective for Macraes style shear hosted gold targets.
The Manorburn prospect is covered by Minerals Prospecting Permit application 60716.01 and is 221.8km² in area. Manorburn is located 20km southeast of the Rise and Shine Shear Zone (inferred 252koz gold Mineral Resource that forms the Bendigo-Ophir Gold Project recently purchased by Santana Minerals (ASX: SMI).
The application is also 85km northwest of Oceana Gold’s (ASX: OGC) world-class Macraes Gold Mine that has combined production and Minerals Resources in excess of 10Moz gold (OGC Annual Report 31 December 2019).
The Marlborough prospect comprises of Minerals Prospecting Permit application 60725.01 that covers 500km² of the Marlborough Schist Belt, a northern analogue of the Otago Schist Belt offset ~470 km along the Alpine Fault.
The Marlborough application area contains a large number of historic, shallow gold and scheelite mines. In total, the area produced 18,000 ounces of gold at an average grade of 5.3g/t. Individual mines had grades generally between 5 and 10g/t Au with up to 30g/t Au being recorded. Tungsten was mined at grades of 0.58% (Downey 1928, Williams 1965).
The Lochinvar Coking Coal Project is located on the Scottish and English borders. The project consists of three adjacent licences, which are 100% owned by NAE, known as Lochinvar, Lochinvar North, and Lochinvar South.
A total coking coal resource of 111 Mt comprising 49 Mt Indicated Resource and 62 Mt Inferred Resource has been defined on the Lochinvar licence with a further 108-206Mt Exploration Target over the 3 licences.
A Scoping Study was undertaken in 2014 and updated in 2017 demonstrating attractive economics for the project.