Located in the Highly-Endowed Hauraki Goldfields
The Company’s North Island portfolio comprises the advanced Waitekauri Gold Project and the Waiorongomai Project (under application). Both are in the highly-endowed Hauraki Goldfields and sit on the Ohoi–Karangahake structural trend.
Waitekauri, which is MEX’s flagship project, is just 8km from OceanGold’s +12Moz Waihi Project and in the centre of a strongly mineralised corridor hosting four +1 Moz Au-Ag deposits. It is also immediately along strike from OceanaGold’s 2.2Moz WKP deposit.
MEX has three high-priority prospects in this corridor – Jubilee, Scotia and Sovereign – where historical data and early MEX sampling has confirmed high-grade mineralisation, including rock chips up to 18g/t Au and historical intervals up to 80g/t Au.
Just 5 km to the south-east, MEX’s Waiorongomai application area covers a historic brownfields epithermal goldfield.
Waitekauri Project
Multi-million-ounce opportunity in world-class goldfield
Waitekauri represents a multi-million-ounce opportunity in world-class goldfield. The Project comprises 58km2 of highly prospective ground in the rich Hauraki Goldfield, which has over 160 years of gold production and hosts 50 epithermal mines. Located adjacent to four +1Moz Au-Ag deposits (Waihi, WKP, Golden Cross, Karangahake) and on the NE/SW mineralised trend of three +1Moz Au-Ag deposits – WKP, Golden Cross, Karangahake.
Historical production from the Hauraki Goldfields is +15Moz Au and 60Moz Ag. Waitekauri has access to well established mining infrastructure and a skilled workforce. Importantly, it is located immediately along strike from Golden Cross and the 2Moz WKP deposit where latest drilling extended known mineralisation to within 4.5km of the Waitekauri boundary. Waitekauri has three high priority prospects – Jubilee, Scotia, Sovereign with historical production from Jubilee – 29koz Au+Ag bullion @ 48g/t Au+Ag.
HIGH GRADE ALONG STRIKE FROM WKP 2.2Moz Au DISCOVERY
Waitekauri Gold Project hosts priority prospects on private farmland and active forestry operations meaning permitting and approval processes can be fast-tracked. OceanaGold discovered the WKP deposit in 2017 – 2.2Moz Au @ 14.3g/t Au & 3.1 Moz Ag.
WKP’s latest exploration results from step-out holes on structure to SE towards Waitekauri include – 13.9m @ 25.8g/t Au, 1.8m @ 108g/t Au and 3.2m @ 19.7g/t Au.
At Jubilee only 10 holes have been drilled along the strike and only 3 holes to > 250m vertical depth – cannot be viewed as drill tested.
Waitekauri Project Location Map
Strong start by MEX
Assays up to 18g/t Au from first rock chips – included abundant visible gold, and epithermal quartz identified in a new area with no historical drilling. Block modelling from historical data including UG channel samples from Jubilee include 24.0m @ 45g/t Au, 13m @ 80g/t Au, 23.0m @ 42g/t Au
Waitekauri Project Location Map Geology
Waiorongomai Project (Application)
A Historic High-Grade Goldfield on the Ohoi–Karangahake Trend
The Waiorongomai gold project area covers brownfields epithermal Au-Ag project in southern part of Hauraki Goldfield, in the Waikato region. The Exploration Permit Application (EPA) covers the Waiorongomai goldfield, located on the western side of the Kaimai Range, east of the township of Te Aroha. This project’s north-west tenement boundary is located approximately only 5km south-east from the Company’s flagship Waitekauri brownfields gold project, and is situated in the same geological Ohoi-Karangahake structural trend as Waitekauri.
The Waiorongomai Gold Project is located on Department of Conservation (DOC) land. Mining activity began at Waiorongomai in the early 1880’s and workings were established on at least 25 major quartz reefs by over forty companies. Despite these extensive workings none of the historic mining operations were profitable, mainly due to high base metal sulphide contents adversely affecting gold recoveries. The deposit was largely abandoned by 1900. Minor prospecting and small-scale mining continued into the late 1940’s, and total historical production from the project is estimated to 30koz @ 17.4 g/t Au.
