
June 30, 2025
New Age Exploration (NAE:AU) has announced Completed Sale of Lochinvar Coal Project and Royalty Deed
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07 July
New Age Exploration
Investor Insight
As it advances its portfolio of gold assets in Western Australia’s prolific Pilbara gold province and New Zealand’s Otago Schist Belt, New Age Exploration presents a compelling investor value proposition, supported by a lean, discovery-driven strategy and an experienced technical team.
Overview
New Age Exploration (ASX:NAE) is building a pure-play gold exploration story centered on high-quality assets in tier-one jurisdictions in Western Australia and New Zealand. The company’s clear strategy is to operate in geological corridors already proven by major discoveries, while applying modern, cost-effective exploration techniques to define new zones of mineralization.
In Western Australia, the company’s Wagyu gold project is directly along strike from De Grey Mining’s Hemi discovery – now owned by Northern Star Resources (ASX:NST). In New Zealand, its projects - Lammerlaw and Otago Pioneer Quartz – lie within the same regional structure that hosts OceanaGold’s (TSE:OGC) 5 Moz Macraes deposit and Santana Minerals’ (ASX:SMI) rapidly growing Rise & Shine system.
With gold prices hovering at all-time highs, NAE’s approach favours technology-led targeting, rather than brute-force drilling campaigns, by using geophysics, geochemistry and passive seismic to zero in on structurally controlled gold systems with potential for scale.
All its projects are supported by local technical teams and seasoned exploration leadership, allowing concurrent progress and capital-efficient deployment. Recent programs at Wagyu and Lammerlaw have confirmed early-stage discoveries, and both assets are advancing through their next stages of drilling and target definition.
Company Highlights
- Pilbara and Otago Exposure: Strategic landholdings in two world-class gold regions – Pilbara (WA) and Otago (NZ) – offering dual discovery potential.
- Hemi-style Intrusion Targets: The Wagyu Gold Project shares geological features and proximity with De Grey Mining’s 11.7 Moz Hemi discovery, increasing the likelihood of a major find.
- High-grade Intercepts: Recent drilling at Wagyu returned standout intercepts including 11.2 g/t gold and 1m @ 15.6 g/t gold.
- Emerging New Zealand Gold Revival: Positioned at the forefront of a regional exploration resurgence in New Zealand’s South Island, supported by rising gold prices and favorable regulatory conditions.
- Strong Cash Position: Recently raised AU$1.96 million to fund ongoing drilling, with multiple near-term catalysts expected.
Key Projects
Wagyu Gold Project
The Wagyu gold project is New Age Exploration’s flagship asset located in the highly prospective Central Pilbara region of Western Australia. The project is strategically situated between two major gold systems – Northern Star’s Hemi Gold Deposit (11.7 Moz gold resource) and the Withnell deposit – within the Mallina Basin, which hosts a similar intrusive-style orogenic gold mineralizing system. NAE holds exploration license E47/2974, which covers 136 sq km. Since acquiring the project, NAE has conducted extensive early-stage exploration, beginning with the reinterpretation of geophysical datasets, including airborne magnetics, radiometrics and satellite imagery, to delineate potential Hemi-style intrusions and structurally hosted gold targets.
Wagyu gold project location map
The company-initiated fieldwork in April 2024, completing soil sampling, gravity surveys and passive seismic geophysical surveys to refine drill targets. These efforts culminated in an extensive aircore drilling campaign (257 holes, over 7,000 m drilled), which identified a broad, crescent-shaped gold anomaly approximately 1.5 km in strike length. Notable results included intercepts such as 5.3 grams per ton (g/t) gold over 4 m (including 15.6 g/t gold over 1 m) and 2.7 g/t gold over 2 m. Encouraged by these results, the company completed its maiden RC program in March-April 2025, drilling 3,023 m across 33 holes targeting two high-priority gravity anomalies. Assays released in May 2025 confirmed a shallow oxide gold system and evidence of underlying mineralized structures, including 1.26 g/t gold over 5 m from 31 m (WRC029), 1.32 g/t gold over 3 m from 43 m (WRC031), and 1.44 g/t gold over 2 m from 83 m (WRC009). Numerous other holes returned mineralized intervals of 0.5 to 0.8 g/t over broad zones.
Importantly, geological logging and geophysical modeling support the presence of vertical feeder structures, interpreted as potential gold-bearing intrusions and fault-hosted "pipes," similar to Hemi’s discovery model. The Wagyu system remains open in all directions, with multiple untested gravity targets and deeper feeder zones yet to be explored. A follow-up RC campaign is planned for Q3/2025, focused on extending mineralization and chasing those deeper pipe-like structures beneath the supergene blanket.
Lammerlaw Gold and Antimony Project
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).
The Lammerlaw gold and antimony project is located in the Otago Schist Belt, a prolific gold-bearing region in the South Island of New Zealand. The project spans 265 sq km and is held under Exploration Permit EP60807. The area is renowned for its historic gold production and geological similarity to OceanaGold’s Macraes Mine, New Zealand’s largest active gold mine with more than 5 Moz in resources. NAE acquired the project through a competitive acreage release and has since completed desktop studies, field mapping and geochemical sampling, which identified multiple 2 to 4 km-long gold-antimony soil anomalies aligned with historical workings.
During 2023-2024, the company identified nine high-priority drill targets based on soil geochemistry (gold, antimony, arsenic, tungsten), historic production data and structural mapping. NAE mobilized a Phase 1 RC drill program in early 2025, designed to test structurally hosted vein systems within both brittle and ductile deformation zones. This work confirmed the presence of gold and antimony mineralization in several targets, though results are still under review. Access to some targets is subject to Department of Conservation approvals, which the company is pursuing concurrently. A Phase 2 drill campaign is planned for Q1/2026, pending access approvals and final interpretation of current results.
Otago Pioneer Quartz Project
Overview of prospects locations within the OPQ Gold Exploration Project.
The Otago Pioneer Quartz (OPQ) project is in Central Otago within the historic Gabriel’s Gully gold district, the epicenter of the 1860s Otago gold rush. The project lies within the same regional schist belt that hosts OceanaGold’s Macraes operation. NAE acquired the OPQ tenement to secure additional exposure to high-grade shear-hosted and orogenic gold systems in the Otago region. The area is characterized by low-sulphide gold quartz veins associated with greenschist facies metamorphic rocks and late-stage brittle faulting.
While still early-stage, the company has conducted preliminary soil sampling and mapping across the tenement to delineate mineralized structures. Historical records suggest significant past production from alluvial and hard-rock sources, though modern exploration has been minimal. Given its proximity to known gold-bearing shear zones and favourable host rocks, OPQ remains a high-priority, low-cost exploration asset for future campaigns.
Going forward, NAE intends to conduct detailed geochemical and structural mapping, followed by scout drilling at known historical workings. The project remains a capital-light optionality play with future drill programs dependent on results from Lammerlaw and Wagyu.
Management Team
Alan Broome – Chairman
Alan Broome is a highly respected figure in the Australian mining industry with more than 40 years of experience across mining, metals and mining technology. A metallurgist by training, Broome has served as chairman and director of numerous ASX-listed and private companies, contributing to significant exploration and development successes. His leadership brings deep strategic insight and a proven track record in guiding discovery-stage companies through to project advancement.
Joshua Wellisch – Executive Director
A capital markets executive with deep ASX and venture experience, Joshua Wellisch leads strategic and operational execution for NAE’s projects. Wellisch is also currently a director of NRG Capital, specialising in capital raisings, corporate structuring and the facilitation of ASX listings and was formerly managing director of Kairos Minerals Limited.
Peter Thompson – Chief Geologist
Appointed in 2025, Peter Thompson brings 35+ years of exploration leadership including stints at Western Mining, Anaconda Nickel, and as CEO of St Barbara. He led redevelopment of Beaconsfield Gold Mine, spearheaded the acquisition, listing and development of the Karlawinda gold deposit and was instrumental in the discovery and advancement of large volcanogenic massive sulphide deposits in Mongolia.
James Pope – Consulting Geologist (NZ)
James Pope is a highly experienced minerals sector professional with nearly 30 years in exploration, consulting and research across a broad range of commodities including gold, PGE, diamonds, base metals, coal and coal seam gas. He currently leads Strata Geoscience, a specialised geoscience consultancy based in Christchurch, New Zealand. Throughout his career, Pope has progressed from hands-on geological mapping and drill site supervision to leading multidisciplinary teams of up to 50 professionals delivering exploration, resource assessment, engineering and environmental services.
Kerry Gordon – Consulting Geologist (NZ)
Kerry Gordon is a seasoned minerals sector professional with nearly 25 years of experience spanning exploration, resource development and operations. He is currently a principal at Strata Geoscience, and has worked across New Zealand, Australia, Papua New Guinea, Vietnam and Mongolia on projects involving gold, critical metals (antimony, tungsten), coal, coal seam gas, and conventional petroleum. Gordon is an expert at managing exploration programs in remote and technically demanding environments, with a strong focus on field-based geological techniques, complex drilling and downhole logging operations, and logistical coordination.
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High potential for large-scale discovery in prolific gold regions in Western Australia and New Zealand
14 July
Quarterly Activities and Cashflow Report
26 May
NAE New Gold System Emerging at Wagyu Pilbara WA
16 May
Drilling Completed at Lammerlaw Gold Project NZ
21h
Quarterly Activities/Appendix 5B Cash Flow Report
22 July
Mali Court Upholds Detention of Barrick Employees
A Malian court has upheld the detention of four employees of Barrick Mining (TSX:ABX,NYSE:B), rejecting an appeal filed by the Canadian mining company as its dispute with the military-led government deepens.
According to a Bloomberg report, Judge Samba Sarr ruled on Tuesday (July 22) that the appeal was unfounded, according to Barrick’s legal counsel, Alifa Habib Koné.
The employees have been held in pre-trial detention since November 2023 on charges including money laundering and financial misconduct, allegations the company has dismissed as without merit.
In June, Mali’s transitional government placed the Loulo-Gounkoto mine under provisional administration and later removed nearly a metric ton of gold from the site. A similar seizure of 3 metric tons occurred earlier this year after Barrick suspended exports due to the dispute.
Barrick has initiated international arbitration proceedings, citing violations of its mining convention with the state.
The company says it was not formally notified of the appointment of the provisional administrator, who it later learned was a former company employee, Samba Touré, now serving as a liaison to the mines ministry.
Touré has been facilitating state control of the site since the takeover.
The Loulo-Gounkoto complex, which Barrick operates and owns 80 percent of, remains central to its African portfolio. The remaining 20 percent is held by the Malian government.
Barrick reported that its Malian operations generated US$949 million in revenue during the first nine months of 2023.
The company has framed the seizures and detentions as part of a broader dispute over tax claims and the implementation of Mali’s new mining code, which includes increased state equity and royalty rates.
In December 2023, a court in Bamako issued a warrant for the arrest of Barrick CEO Mark Bristow. The company has not publicly addressed the warrant but continues to operate in the country while pursuing legal remedies.
Amid the mounting friction in Mali, Barrick is in discussions to sell its Hemlo mine in Ontario, its last producing gold asset in Canada. The prospective buyer is Discovery Silver (TSX:DSV,OTCQX:DSVSF), which has been expanding its portfolio following its recent acquisition of Newmont's (TSX:NGT,NYSE:NEM) Porcupine operation.
A finalized Hemlo deal would mark Barrick’s complete exit from Canadian gold production. Hemlo has seen declining output in recent years and is no longer considered core to Barrick’s long-term strategy.
The ongoing standoff in Mali continues to affect the company’s export flows and local operations, with no resolution yet announced regarding the release of detained staff or the return of the seized gold.
Loulo-Gounkoto produced over 680,000 ounces of gold in 2023, making it one of the most productive mines in West Africa. Barrick has said it is committed to resolving the dispute under the terms of its mining agreement with Mali.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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22 July
Brightstar Resources Pursues Aurumin Acquisition to Consolidate Sandstone Assets
Brightstar Resources (ASX:BTR) has entered into a scheme implementation deed with Aurumin (ASX:AUN) under which Brighstar will acquire 100 percent of Aurumin’s issued capital.
The companies agreed on arrangement terms in June, underlining how the transaction will consolidate their tenement holdings in the Central Sandstone region in Western Australia.
Brightstar owns the Sandstone gold project, while Aurumin owns the Central Sandstone gold project.
According to Brightstar, the combined assets would lead to a pro-forma total mineral resource estimate of approximately 2.4 million ounces at 1.5 grams per tonne (g/t) gold.
“We believe that combining Aurumin and Brightstar represents a unique opportunity to build a Western Australian gold business of genuine scale with demonstrable upside that also de-risks future development activities and operations at Sandstone,” commented Brightstar Managing Director Alex Rovira in a Monday (July 21) release.
The transaction amounts to approximately AU$0.12 per Aurumin share, with Aurumin shareholders set to receive one Brightstar share for every four shares held on the scheme’s date. Existing Brightstar shareholders will hold 82 percent of the combined group, while Aurumin shareholders will have the remaining 18 percent.
“(This merger) will underpin the mining future of the Sandstone region. Given our adjacent mineral resources, this transaction makes good commercial sense for us and it’s fantastic that we have now been able to agree terms to make this consolidation a reality,” said Aurumin Managing Director Daniel Raihani.
In December 2024, Brighstar reported drilling results from its expanded portfolio at Sandstone and Jasper Hills, including 21 metres at 2.86 g/t gold, including 1 metre at 26.4 g/t from 146 metres.
For Central Sandstone, Aurumin said its resource is currently 19 million tonnes at 1.5 g/t for 885,000 ounces gold. The project also contains iron, with assays returning grades of up to 67 percent iron.
Subject to court approval and other customary conditions, the transaction is expected to be implemented in October.
Shares of Brightstar rose 1.03 percent a day after the announcement, closing at AU$0.49 on Tuesday (July 22).
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Brightstar Resources is a client of the Investing News Network. This article is not paid-for content.
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22 July
Quarterly Activities/Appendix 5B Cash Flow Report
21 July
John Feneck: Gold, Silver, Platinum, Copper — 8 Stocks to Play These Metals
John Feneck, portfolio manager and consultant at Feneck Consulting, outlines his latest thoughts on the gold, silver, platinum and copper markets.
With prices on the rise, he encouraged investors to get involved if they aren't already.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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21 July
Hidden Gem: How Intrusion-related Gold Deposits Could Fuel Next-generation Discoveries
With the gold price continuing to hover near all-time highs and major producers scouring the globe for new large-scale deposits, one type of gold system is emerging as a potential game changer.
Intrusion-related gold systems (IRGS) have already yielded multimillion-ounce mines, like Kinross Gold's (TSX:K,NYSE:KGC) Fort Knox in Alaska, and sparked billion-dollar acquisition bids, such as Northern Star Resources (ASX:NST) offer for De Grey Mining in Australia. Even so, these deposits remains largely under the radar for most investors, and their full investment potential is only beginning to be understood.
Traditional high-grade vein systems often require deep, high-cost underground mining. IRGS deposits, however, form broad, consistent zones of mineralization that lend themselves to large-scale, open-pit development. These geological systems are particularly attractive in today’s market as they offer scale, longevity and a clear path to resource growth, which are critical at a time when new gold discoveries are becoming increasingly rare.
Given their geological and economic advantages, IRGS deposits are gaining attention from the world’s most experienced geologists and savvy resource investors.
Geology and controversy
IRGS forms when granitic magma intrudes into older country rock, generating heat and pressure that cause metal-rich hydrothermal fluids to migrate outward. As these fluids cool, they deposit gold — often accompanied by bismuth, tellurium and tungsten — within both the intrusion and surrounding host rocks. Unlike traditional high-grade vein systems, IRGS deposits typically develop broad zones of mineralization that can extend for hundreds of meters in width, with gold distributed in disseminated sulfides and sheeted quartz veins rather than concentrated in narrow lodes.
Though often lower in grade, generally ranging from 0.5 to 2 grams per ton, their scale and uniformity make them ideal for large-scale, open-pit mining. IRGS deposits also tend to occur in clusters along regional fault corridors that span tens of kilometers, allowing for the possibility of multiple mineralized centers within a single district. This combination of features offers the potential for long mine lives and relatively low development risk.
As a relatively new yet economically relevant type of deposit system, IRGS remains a topic of debate within the geological community. Some researchers question whether IRGS represents a truly distinct deposit class or simply a variant of orogenic or porphyry systems, shaped by local geological conditions.
The lack of universally agreed-upon diagnostic features, such as consistent fluid chemistry or mineral zoning, can make them difficult to distinguish in the field. Unlike epithermal systems, for example, IRGS typically lack high-sulfidation alteration and strong vertical metal zoning, adding complexity to exploration.
While this ambiguity can be challenging for geologists, it also highlights the opportunity: exploration companies that can correctly interpret these systems using modern geophysics, structural models and geochemical tools may uncover valuable deposits that others have overlooked or misclassified.
As academic consensus continues to evolve, the practical investment question centers on results. And recent activities in the M&A space and among major gold producers point to a compelling opportunity.
Economies of scale
The market is beginning to reward companies with exposure to IRGS geology.
Fort Knox, an IRGS-style deposit in Alaska, has produced more than 8 million ounces of gold since opening in 1996 and still has more than 4 million ounces in reserves.
More recently, the Hemi discovery in Western Australia, owned by De Grey Mining, exemplifies the growing investor appetite for IRGS-scale projects. The 8.5 million ounce discovery attracted a AU$5 billion takeover bid by Northern Star Resources in early 2024, and the transaction was completed in May 2025. Hemi's low-strip, open-pit profile and exceptional size put it at the top of many watchlists, validating the IRGS model as a legitimate path to tier-one status.
Unlike epithermal or orogenic systems, where new discoveries often hinge on chasing high-grade shoots at depth, IRGS exploration favors methodical, district-scale work. The size of the prize is significant, but realizing value requires a clear geological model, long-term commitment and the capital to drill systematically across wide zones.
For investors, this translates to a unique set of signals when assessing junior companies: control of a large fault corridor, early stage ounces that can grow, geophysics-driven targeting and a leadership team with IRGS-specific experience. The good news is that many such systems remain underexplored or misclassified, particularly in Proterozoic terrains across Australia and North America.
Alice River gold project: An emerging IRGS opportunity
One company that exemplifies the early mover advantage in an emerging IRGS district is Pacgold (ASX:PGO), an Australian junior that holds 377 square kilometers of granted tenure in far north Queensland, anchored by the Alice River Fault Zone. Pacgold controls more than 30 kilometers of strike along this corridor, which has seen historical small-scale mining but virtually no systematic modern exploration, until recently.
Pacgold released its maiden resource in May 2025: 26.8 million tons grading 1 gram per metric ton gold for 854,000 ounces across three zones: central, southern and northern. These zones represent only about 5 percent of the project’s total strike length, however, highlighting substantial room for expansion. Importantly, the resource includes broad, consistent zones of gold mineralization starting at surface, an ideal profile for potential open-pit development.
The company is currently executing an aggressive exploration program, with drilling underway on five priority targets identified through a combination of geophysics, soil sampling and historical data reinterpretation.
These targets share key IRGS characteristics: elevated gold-in-soil values, coincident magnetic and radiometric anomalies, and structural settings proximal to known intrusions.
Pacgold’s exploration model draws direct inspiration from the Hemi discovery, where intrusive bodies hosting disseminated gold were revealed through a similar approach. The company’s management and technical teams believe Alice River may represent the next large-scale IRGS discovery in Australia, and early exploration results support this.
With a current market capitalization of AU$10.9 million and approximately AU$2.1 million in cash as of March 2025, Pacgold offers investors asymmetric exposure to a potentially transformative discovery. Its board includes veterans of Australia’s most successful gold discoveries, including Tropicana, Julimar and Coyote. This depth of experience gives the company a strong strategic and technical footing as it advances toward a multimillion-ounce resource.
Investor takeaway
IRGS represents one of the most compelling yet overlooked exploration frontiers in the gold exploration space.
Their ability to host long-life, bulk-tonnage deposits with relatively low technical risk makes them attractive not just to juniors, but also to major producers hunting for future development pipelines. Few juniors are positioned in proven IRGS corridors, and even fewer have the tenure, team and technical discipline to deliver meaningful discoveries — and those that possess this ideal combination present a window of opportunity for investors.
As with any early stage investment, the risks are real. But so is the upside. In this global search for the next big gold camp, IRGS discoveries may well be where the future begins.
This INNSpired article is sponsored by Pacgold (ASX:PGO). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Pacgold in order to help investors learn more about the company. Pacgold is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Pacgold and seek advice from a qualified investment advisor.
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