Minerals Exploration Limited has reported exceptional rock chip assays reaching 49.7 grams per tonne gold from the historic Invincible Gold Mine in New Zealand, setting the stage for a maiden drilling campaign.
- High-grade rock chip assays up to 49.7g/t Au at Invincible Gold Mine
- Historic mine produced gold grading up to ~30g/t Au in late 1800s
- No modern drilling conducted previously on the 164.3km2 Invincible Gold Project
- New field programs including stream and soil sampling planned ahead of drilling
- Project shares geological features with major Otago gold deposits Macraes and Bendigo-Ophir
Historic Gold Potential Reignited
Minerals Exploration Limited (ASX: MEX) has delivered a promising update from its Invincible Gold Project in New Zealand’s Otago region, revealing rock chip samples with gold grades as high as 49.7 grams per tonne. This comes from surface sampling at the historic Invincible Gold Mine, a site that produced ore grading up to approximately 30g/t gold during its operation in the late 19th and early 20th centuries.
The Invincible Gold Project spans a substantial 164.3 square kilometres and includes both the Invincible Gold Mine and the Glenorchy Tungsten Mine. Despite its rich history and evident mineralisation, the area has not been subject to modern exploration drilling, leaving significant potential untapped.
Geological Context and Exploration Strategy
The project’s geological setting is particularly compelling. It shares key structural and mineralisation characteristics with some of the Otago Goldfields’ largest deposits, including OceanaGold’s Macraes Gold Mine and Santana Minerals’ Bendigo-Ophir deposit. Both are known for bulk tonnage gold mineralisation with discrete high-grade zones, often associated with tungsten, a critical mineral.
Mapping work by Nomad Mining in 2009 identified a large mineralised shear zone at Invincible, which Minerals Exploration now plans to investigate further. The company is initiating a comprehensive field program involving stream and soil sampling to refine targets ahead of a maiden drilling campaign. This approach aims to delineate the extent and continuity of mineralised shear zones that could host significant gold and tungsten mineralisation.
Unlocking New Zealand’s Critical Minerals
The Invincible Gold Project’s potential extends beyond gold. The presence of tungsten mineralisation aligns with New Zealand’s critical minerals list, adding strategic value to the exploration effort. The company’s technical team believes that the mineralisation style and structural controls at Invincible could mirror those of the region’s major deposits, enhancing the prospectivity of the project.
Minerals Exploration’s announcement underscores the importance of revisiting historic mining areas with modern techniques. The high-grade rock chip results, including visible gold in several samples, provide a strong incentive to advance exploration rapidly.
Looking Ahead
With no prior modern drilling, the Invincible Gold Project represents a relatively unexplored opportunity in a well-known gold province. The upcoming field programs and maiden drilling will be critical in testing the scale and grade continuity of the mineralisation. Investors and industry watchers will be keen to see how these efforts translate into resource definition and potential development pathways.
Bottom Line?
Minerals Exploration’s high-grade assays breathe new life into a historic goldfield, but the real test lies ahead in drilling results.
Questions in the middle?
- Will the maiden drilling confirm continuity of high-grade gold mineralisation at depth?
- How extensive is the tungsten mineralisation and what economic role might it play?
- What timeline and budget has Minerals Exploration set for advancing the Invincible Gold Project?