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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.
High potential for large-scale discovery in prolific gold regions in Western Australia and New Zealand
Pacgold: Advancing the Alice River Gold Project in Northern Queensland with Tier 1 Discovery Potential
Pacgold (ASX:PGO) is an Australian gold exploration company advancing the high-potential Alice River Gold Project in Northern Queensland. Led by a technically driven and experienced team with proven success across exploration, resource development, and capital markets, Pacgold is applying a systematic, discovery-focused approach to unlock the project’s value.
The company holds a dominant 377 sq km land package, including eight mining leases, along the highly prospective Alice River Fault Zone (ARFZ) — a major structural corridor interpreted to host an intrusion-related gold system analogous to globally significant deposits such as Fort Knox (USA) and Hemi (WA).
The Alice River Gold Project is a large-scale, greenstone-hosted gold system located in Northern Queensland, centered along the regionally significant Alice River Fault Zone (ARFZ). The project covers 377 sq km of contiguous tenure, including eight granted mining leases.
Pacgold controls over 30 km of strike length along the ARFZ — a major crustal-scale structure that has only recently been the focus of systematic exploration using modern techniques, offering significant untapped discovery potential.
Company Highlights
- District-scale Discovery Potential: Pacgold controls more than 377 sq km of tenure and more than 30 km of strike length across the Alice River Fault Zone (ARFZ), a fertile, underexplored structural corridor in Northern Queensland.
- Maiden Resource: In May 2025, the company published a 474,000 oz gold mineral resource estimate (MRE), covering just five percent of the total strike, confirming high-grade mineralization and strong potential for expansion.
- Aggressive Exploration Strategy: More than 10,000 metres of RC drilling campaign is underway, complemented by air-core and diamond programs, aimed at growing the Central Zone resource and testing multiple regional targets.
- Attractive Valuation Entry: With a market capitalization of just ~AU$10 million and an EV of AU$8.5 million (as of Q1 2025), Pacgold provides a low-cost entry into a potentially Tier 1 gold system.
- Experienced Leadership: The board includes proven mine developers and discovery geologists with prior success at Chalice, AngloGold Ashanti, BHP and Sibanye-Stillwater.
This Pacgold profile is part of a paid investor education campaign.*
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High-Grade Gold Discovery in First 8 Mile Drill Hole
- First RC hole at 8 Mile discovers high-grade gold and ends in mineralisation
- 8 Mile gold mineralisation extends 75m north of tenement boundary
The 8 Mile target is located within the Gidji JV Project (“Gidji” or “the Project”), approximately 15 kilometres north of Kalgoorlie and surrounded by multiple gold mining and processing operations, including Northern Star Resources Limited’s (“NST”) Kalgoorlie gold operations (Figure 1).
The 8 Mile Target is located immediately adjacent to NST’s “8-Mile Dam” gold deposit which, according to the most recent publicly available data, contains an estimated 7Mt @ 1.4g/t Au for 313,977 ounces1.
A limited number of fast-tracked results from the first RC hole, GJRC029, show a wide zone of gold mineralisation with a similar tenor to 8 Mile Dam (18m @ 0.94g/t Au from 480m including 1m @ 6.04g/t Au), approximately 75m north of the tenement boundary, and ended in mineralisation (3m @ 0.52g/t Au).
The Company is awaiting assay results from the remainder of the hole which are expected in 2-3 weeks.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was excited to see gold mineralisation continuing onto Miramar’s ground for a significant distance.
“This is the first time we have discovered significant gold mineralisation on our side of the fence, even though the drill hole didn’t end up exactly where we planned it to. The flip side of this is that we have extended the strike of gold mineralisation for over 100m on to our tenements,” he said.
“We’ve also demonstrated a relationship between the IP anomalism and gold mineralisation, which makes the other IP anomalies we have outlined at Gidji even more prospective,” he said.
Figure 1. The Gidji JV Project and 8-Mile Dam in relation to Kalgoorlie and surrounding deposits.
GJRC029 aimed to test an Induced Polarisation (IP) anomaly on the tenement boundary interpreted to represent the sulphide-rich gold mineralisation seen at the neighbouring 8 Mile Dam Deposit.
GJRC029 was collared approximately 10m north of the tenement boundary and mirrored MPGD008, a diamond hole drilled down-dip approximately 40m south of the tenement boundary by KCGM in 2013 and which intersected significant gold mineralisation related to the 8 Mile mafic unit.
Unfortunately, GJRC029 deviated significantly from the planned azimuth and, as a result, by the time the hole was terminated at the target depth of 504m, the drill trace ended up approximately 75m north of the tenement boundary (Figure 2). Despite this, the hole intersected a thick section of the steep westerly- dipping and highly altered 8 Mile mafic unit with widespread sulphide mineralisation, including disseminated magnetite and coarse-grained arsenopyrite, pyrrhotite and chalcopyrite, similar to the 8 Mile Dam Deposit (Figure 3).
Based on visual logging of RC drill chips, handheld portable XRF results and magnetic susceptibility measurements, samples from the bottom 56m of the hole were sent for priority analysis by fire assay at Bureau Veritas in Kalgoorlie.
The results from these initial samples confirm the relationship between the gold mineralisation and sulphides, and a relationship between the best gold mineralisation and coincident magnetic anomalism and elevated Arsenic as measured by handheld portable XRF. The first results also confirm that the IP anomaly is associated with potentially significant gold mineralisation, whilst the significant deviation of GJRC029 away from the planned target increases the potential strike length of gold mineralisation on Miramar’s ground.
Significant results are listed in Table 1, with assay results from the remainder of the hole expected in coming weeks.
The initial RC drilling programme, which also tested two other IP targets, is nearing completion and results will be reported once received and compiled.
Once all assays are received, the Company will plan further RC and/or diamond drill holes including to test the dip and strike extent of the mineralisation intersected in GJRC029.
The Company advises that the WA Department of Mines, Petroleum and Exploration (DMPE) has extended the main Gidji JV tenement, E26/214, for a further five years, and will now expire in March 2030.
Click here for the full ASX Release
This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
New Age Exploration Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects