The Manorburn application is within the highly prospective Otago Schist Belt, while the Marlborough application is over the Marlborough Schist Belt which is prospective for gold and tungsten.
Both of these applications for new ground complement NAE's existing
MARLBOROUGH
The Marlborough prospect comprises of Minerals Prospecting Permit application 60725.01 that covers 500km-2 of the Marlborough Schist Belt, a northern analogue of the Otago Schist Belt offset 470 km along the Alpine Fault.
The Marlborough prospect is covered by airborne geophysical data acquired by the
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).
MANORBURN
The Manorburn prospect is covered by Minerals Prospecting Permit application 60716.01 and is 221.8km-2 in area. Manorburn is located 20km southeast of the
The Manorburn prospect is within the highly prospective Otago Schist Belt for orogenic gold. The Manorburn area is relatively underexplored but has adjacent gold deposits and has had some magnetic and electromagnetic surveys completed by Glass Earth in the late 2000s.
Upon granting of the permit, NAE will utilise the Glass Earth geophysical data set to identify potential structures that are conducive to shearing and hydrothermal fluid flow associated with gold mineralisation within the Otago Schist. NAE has carried out a similar method of exploring on its Lammerlaw project (NAE
FORWARD LOOKING STATEMENTS
This report contains 'forward-looking information' that is based on the Company's expectations, estimates and forecasts as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, objectives, performance, outlook, growth, cash flow, earnings per share and shareholder value, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses, property acquisitions, mine development, mine operations, drilling activity, sampling and other data, grade and recovery levels, future production, capital costs, expenditures for environmental matters, life of mine, completion dates, commodity prices and demand, and currency exchange rates. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast' and similar expressions. The forward looking information is not factual but rather represents only expectations, estimates and/or forecasts about the future and therefore need to be read bearing in mind the risks and uncertainties concerning future events generally.
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