Highly Prospective Projects in the Otago Goldfields
Minerals Exploration’s South Island gold portfolio comprises two highly prospective projects in the Otago Goldfields: Invincible and Oturehua. They are positioned near major deposits such as OceanaGold’s +10Moz Macraes mine and Santana Minerals’ 2.2Moz Bendigo-Ophir discovery.
Invincible hosts historic high-grade workings averaging ~30g/t Au and is considered prospective for orogenic gold and tungsten within the same structural setting as Macraes and Bendigo-Ophir, yet has seen no modern exploration. The Oturahua Project, located between Bendigo-Ophir and Macraes, has historic production of 15–20,000oz at 48.8g/t Au, with MEX’s initial sampling returning up to 9.3g/t Au from quartz-arsenopyrite-pyrite veins.
Invincible Gold – Glenorchy Tungsten Project
Modern Discovery Potential in a Proven Tier-1 Orogenic Gold Trend
The Invincible Gold Project shares key geological features with OceanaGold’s world-class Macraes gold mine 170km to the southeast, Santana Minerals’ 2.2Moz Bendigo-Ophir deposit 65km to the east, and multiple other gold occurrences in the Otago Goldfields. MEX’s technical team believe there is a potential for the historic Invincible gold mine to be hosted in the same structural settings as the Macraes and Bendigo-Ophir projects, both of which are of a bulk tonnage nature with discrete high-grade gold and tungsten zones.
The 164km2 Invincible Prospecting Permit hosts historic workings from the late 1800s and historical production from the gold-rich veins had an average grade of ~30g/t Au. Despite its prospectivity the area has not been exposed to any modern exploration. The Invincible Gold – Glenorchy Tungsten Project
is considered prospective for orogenic gold and tungsten mineralisation, both of which are on New Zealand’s critical minerals list.
OTUREHUA GOLD PROJECT
Historic Producer Offering Modern Exploration Upside
Oturahua has a 32.4km2 exploration permit, located on privately owned farmland having historical production estimated at 15-20koz @ 48.8g/t Au. It is located 20km South-East from Santana Minerals (ASX-SMI) 2.2Moz @ 2.3g/t Au Bendigo-Ophir deposit and 50km North-West from Oceana Gold’s Macraes >10Moz gold producer. Previously discovered gold in quartz-arsenopyrite-pyrite veins initially discovered in 1868, and mined until 1936. First rock chips taken by Uvre included 9.3g/t Au.
