New Age Exploration (ASX:NAE) has commenced its highly anticipated Phase 2 drilling program at the Lammerlaw Gold-Antimony Project in Otago, New Zealand.
Building on the momentum of previous exploration successes, this latest stage involves a follow-up reverse circulation drilling campaign totalling approximately 1,000m to 1,500m.
The program is designed to test high-priority targets identified during Phase 1, focusing on areas that exhibit geological similarities to the world-class Macraes gold deposit.
The technical team is particularly interested in refining the structural understanding of the site’s mineralisation, aiming to delineate the extent of gold and antimony anomalies discovered in earlier soil sampling and shallow drilling.
By utilising RC drilling, NAE intends to achieve deeper penetration and more accurate sampling of the underlying lithology, which is critical for identifying potential high-grade "shoots" within the schist-hosted shear zones.
Company officials noted that the commencement of Phase 2 represents a significant milestone in de-risking the Lammerlaw Project.
While the project remains in the early stages of exploration—with no formal mineral resource or ore reserve yet defined—the geological context provided by the nearby Macraes deposit offers a framework for the current works.
At the time of reporting, New Age Exploration's share price was $0.0030.