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New Age Exploration secures 265-square-kilometer gold prospecting permit

New Age Exploration Ltd. said New Zealand Petroleum & Minerals granted it a prospecting permit Dec. 6 covering 265.38 square kilometers in the country's Otago region.

Earlier this year, Vanuatu Mining Ltd. relinquished the permit area, which is a prospect for historical gold and scheelite workings with minor occurrences of copper, silver and mercury.

An initial work program including mapping, soil and rock chip sampling is planned for the first quarter of 2020, which the company estimated will cost about NZ$90,000. The company is also planning to explore another site in Otagu, the adjacent OPQ gold target that runs to the east the newly permitted Lammerlaw area.