KO Gold receives exploration permit for NZ project






















Published by Jane Bentham,
Editorial Assistant




Global Mining Review,






KO Gold Inc. has announced that New Zealand Petroleum & Minerals has granted the company its Exploration Permit (EP) over the historic Carrick Goldfield in the Otago Gold District in New Zealand.

The Carrick EP has been granted for a 5-year term commencing on 9 May 2024, and is approximately 105 km2 in size. The company has also commenced exploration activities on its Carrick Range Prospecting Permit (Carrick Range PP) located immediately south of the Carrick EP and both permits comprise the “Carrick Gold Project”. In addition, regional exploration and drilling programmes are planned for the company’s other permits in the Otago Gold District.

Highlights:

  • Carrick EP granted for a 5-year term over the historic Carrick Goldfield with immediate plans to drill several holes targeting high-angle lode-style gold mineralisation and low-angle shear-hosted gold mineralisation within the Carrick-Potter Shear Zone (CPSZ).
  • Exploration activities on the Carrick Range PP will take approximately six weeks to complete and includes geological mapping, prospecting and rock sampling, and an extensive soil and stream sediment sampling programme over the 200 km2 permit area. This programme is designed to identify potential drilling targets for an upcoming reverse circulation (RC) and diamond drilling programme in the Carrick Goldfield.
  • Management has recently approved a CAN$3 million exploration budget to complete regional exploration programs on its Carrick Range, Rough Ridge South, and Tokomairiro prospecting permits and in addition RC and diamond drilling programs on its Carrick, Hyde, Glenpark, and Smylers Gold exploration permits; once access agreements have been approved in a few weeks and a drilling contractor has been selected. The drilling programmes for the Carrick, Smylers, Hyde, and Glenpark EP’s are currently being designed.
  • The Company is working on obtaining access agreements to drill on both private and Department of Conservation (DOC) lands on its permits and this will include discussions with local Maori iwi groups on any potential land impacts. The exploration and drilling programs are managed and supported by RSC Consulting Ltd., a highly experienced geological and mining consultant company based in Dunedin and with extensive knowledge of the Otago Gold District.
  • KO Gold is targeting the discovery of reef/shear-hosted gold lode mineralisation within the historic Carrick Goldfield (Carrick EP) and to the south on the Carrick Range PP where modern exploration has been limited up until this point. The Carrick Gold Project is potentially similar to the nearby Santana Minerals Ltd. Rise & Shine (RAS) gold deposit within the Rise & Shine Shear Zone (RSSZ). The RAS deposit is quickly advancing through the mining feasibility stage and contains a JORC Indicated Mineral Resource of 17.1 million t at an average grade of 2.4 g/t Au for 1.3 million oz of contained gold and a JORC Inferred Mineral Resource of 13.7 million t at an average grade of 2.1 g/t Au for 0.9 million oz of contained gold using a 0.5 g/t Au cutoff and opencast mining scenario.

Greg Isenor, President and CEO of KO Gold commented: “We see great potential for gold deposits in the Otago Gold Belt as pointed out by the presence of the many indicators of gold mineralisation, including old gold workings, gold showings, extensive alluvial gold production, geochemical anomalies, and structure, etc. This area is underexplored! We spent several years on research and assembling this land position. Our exploration approach has been successful for us previously in other jurisdictions. KO Gold now has four properties at the drill stage. In addition, we also have regional gold exploration programmes working to bring more properties to the drill stage. We are pleased to be working closely with both RSC and Hardie Pacific, both of whom have extensive knowledge and experience in the Otago Gold Belt. RSC is the project manager of our project and have excellent relationships and experience with the New Zealand Petroleum and Minerals department and other government departments, the local Maori groups, local landowners and drilling contractors. The requirement for local expertise is imperative for a successful project. We are presently designing our drilling programmes and will report on this promptly. We are at the right place at the right time.”

Read the article online at: https://www.globalminingreview.com/mining/17052024/ko-gold-receives-exploration-permit-for-nz-project/


You might also like







Byrnecut has donated a diesel-electric underground mining truck to South Metropolitan TAFE in Western Australia, to help train students.



 










Source link

Leave a Reply

Your email address will not be published. Required fields are marked *