Significant Potential Identified At Historic Otago Gold Project
NewPeak Metals Limited (ASX:NPM) has been granted its Carrick Exploration Permit (EP 60723) situated approximately 40km from Queenstown, New Zealand.
The Carrick Goldfield has a long history of mining and exploration following the discovery of Gold in 1864. Historical hard rock mining which focused on narrow high-grade quartz reefs within the oxide zone occurred in over 52 different historical mining claims until about 19211. These historical workings occur over a distance of six km.
There are approximately 70 separate mineralised quartz vein lodes in the NewPeak permit area. It has been reported that 24,000 ounces of Gold were won from the field from 1871 to 1921 at a grade of 26 g/t Gold1. This historical production focused on the oxide horizon as the fresh mineralisation was unable to be processed at the time.
Since 1921, exploration has been undertaken by several companies with focus on five main areas: the Lower Carrick, Carricktown, Upper Carrick, Potters Grid, and Pipeclay Gully.
The past exploration provides an extensive dataset including geological mapping data, 874 rock chip samples, 349 stream sediment samples, 4,272 soil samples, and 98 drill holes (RAB, RC and DD) totalling 7,596m of drilling.
Significant potential has already been identified by previous explorers, and NewPeak says it will be aiming to leverage the available historical information and data sets as part of its exploration strategy to unlock value from this new element of its overall New Zealand Otago Gold Project portfolio.
For further information please visit: https://newpeak.com.au/
