Uvre Unveils High-Grade Gold Potential in New Zealand with Otagold Acquisition

Strong Assay Results Spark Excitement

Uvre Limited (ASX, UVA) has revealed compelling early-stage exploration results from its pending acquisition of Otagold Ltd, highlighting the strong gold potential of Otagold’s New Zealand assets. Rock chip sampling at the flagship Waitekauri project on New Zealand’s North Island returned assays as high as 18.4 grams per tonne (g/t) gold, accompanied by visible gold and epithermal quartz. Similarly, the Oturehua project on the South Island yielded assays up to 9.3g/t gold. These results underscore the prospectivity of both projects and lay the groundwork for Uvre’s maiden drilling program.

Strategic Acquisition and Board Strengthening

The acquisition of Otagold Ltd, which holds 100% ownership of several exploration permits including Waitekauri and Oturehua, is set for shareholder approval at Uvre’s general meeting. The deal not only expands Uvre’s footprint in a highly prospective gold region but also brings seasoned mining executives Norm Seckold and Peter Nightingale onto the Uvre board. Seckold’s extensive leadership experience with ASX-listed mining companies adds significant strategic depth to Uvre’s governance as it embarks on this exploration phase.

Waitekauri, A Brownfields Opportunity Near a Major Gold Mine

Waitekauri sits just 8 kilometres west of OceanaGold Corporation’s Waihi gold mine, a prolific 10 million ounce deposit. The project covers a 58-kilometre mineralised corridor with multiple prospects, including Scotia, Sovereign, and Jubilee. Historical production grades at Jubilee reached an impressive 48g/t gold plus silver, and recent rock chip samples have confirmed high-grade mineralisation with abundant native gold aggregates. Notably, new outcropping epithermal quartz veins have been identified in areas previously unexplored by drilling, suggesting significant upside potential.

Oturehua, Untapped High-Grade Potential

On New Zealand’s South Island, the Oturehua project lies within a historic goldfield with past production of approximately 15,000 to 20,000 ounces at grades near 49g/t gold. Rock chip samples from mine dumps reaffirm the high-grade nature of the system, with assays averaging 5.3g/t and peaking at 9.3g/t gold. The primary mineralisation, hosted in sulphides, remains largely untested at depth, presenting a compelling exploration target for Uvre.

Well-Funded for Exploration Ahead

Following a recent $4 million placement led by Bell Potter, Uvre will hold approximately $6 million in cash post-acquisition, providing a solid financial foundation for its planned exploration activities. The company intends to commence an eight-hole drilling program at Waitekauri in the September quarter, focusing on testing high-grade shoots and expanding known mineralisation. The combination of strong assay results, strategic acquisition, and experienced leadership positions Uvre well to unlock value from these New Zealand gold projects.