NewPeak Metals’ maiden drilling at Tansey Gold Project reveals gold mineralisation extending beyond historic South Burnett mine boundaries and uncovers a previously unknown parallel structure, setting the stage for targeted resource drilling.
- Gold mineralisation extends deeper and along strike from historic South Burnett mine
- Four diamond drill holes total 1,179m with significant intercepts up to 43m at 0.75g/t Au
- Discovery of a parallel structure with potential for higher grades at depth
- Future drilling at Tansey contingent on completion of Las Opeñas campaign
- Integration of new and historic data to guide expanded exploration
Drilling Confirms Gold System Beyond Historic Mine
NewPeak Metals Limited (ASX:NPM) has delivered encouraging results from its inaugural diamond drilling program at the Tansey Gold Project in southeast Queensland. The company has demonstrated that the gold mineralisation mined at the historic South Burnett underground mine, which ceased operations in the 1940s, extends both deeper and laterally along a known shear zone. Four diamond drill holes totalling 1,179 metres intercepted substantial gold-bearing zones, including standout intercepts such as 43 metres at 0.75 grams per tonne (g/t) gold from 157 metres and 41 metres at 0.68 g/t gold from 229 metres.
These results validate NewPeak’s exploration model and materially enhance the understanding of the mineralisation’s structural setting and style. The drilling also uncovered a previously unidentified parallel structure, intercepted by hole SBD002, which returned 1 metre at 0.69 g/t gold near surface and 4 metres at 0.35 g/t gold from 183 metres, hinting at further upside potential in unoxidised zones at depth.
Parallel Structure Adds New Dimension to Tansey
The discovery of a parallel mineralised structure adjacent to the main shear zone is a significant bonus from the program. SBD002 was designed as a scissor-hole to test for this postulated secondary structure on the footwall side, a target that had been difficult to assess previously due to depth limitations and access. Visible quartz and sulphide veinlets in the upper core, combined with encouraging assay results, suggest this parallel zone could host higher-grade gold mineralisation at depth, warranting further exploration.
NewPeak plans to integrate these new assay results with historic geochemical data and geological mapping to refine the structural framework. This comprehensive approach aims to identify large geological ‘trap structures’ not only near the South Burnett workings but across the broader tenement package, potentially unlocking new targets for future drilling.
Strategic Exploration Focus Balances Tansey and Las Opeñas
While the Tansey results are promising, NewPeak remains committed to progressing its exploration strategy at both Tansey and its Las Opeñas project in Argentina. The company has signalled that further drilling at Tansey is unlikely to commence until after the current Las Opeñas drill campaign concludes, which is expected no earlier than July. This sequencing reflects a disciplined capital allocation approach and a focus on delivering systematic exploration progress across its portfolio.
NewPeak’s Managing Director Mark Purcell emphasised that the recent drilling materially improved the company’s understanding of the mineralisation and structural controls at Tansey, setting the stage for resource-focused reverse circulation (RC) drilling in the near future. This next phase will likely target extensions of the shear zone both along strike and at depth, including follow-up on the new parallel structure.
Historic Context and Technical Details Support Exploration Upside
The Tansey Gold Project covers granted tenements approximately 60 kilometres west-northwest of Gympie, Queensland, including the South Burnett mine area. Historically, the mine produced gold from quartz and quartz-calcite veins within graphitic mudstones and andesitic dykes, with mineralisation styles now interpreted as a mix of epithermal and mesothermal characteristics related to a compressional jog in a shear zone.
NewPeak’s drilling program, conducted in early 2026, leveraged modern diamond drilling techniques with HQ3 orientated core and rigorous sampling protocols. The program’s high core recovery rates (>95%) and comprehensive geological logging provide confidence in the assay data. The company has also committed to integrating these results with extensive historic exploration data to optimise future targeting.
The drilling results build on NewPeak’s earlier Tansey drilling program completion and follow initial exploration work that began in late 2025. The company’s strategic focus on Las Opeñas, where drilling is underway, complements its Australian exploration efforts and reflects a balanced approach to advancing its gold assets globally Las Opeñas drilling plans.
Bottom Line?
NewPeak’s Tansey drilling advances the gold system’s footprint and reveals new structural targets, but further resource drilling awaits completion of Las Opeñas work.
Questions in the middle?
- How extensive is the newly identified parallel structure at Tansey and what grades can it sustain at depth?
- What timing and scale will NewPeak adopt for its upcoming resource-focused RC drilling at Tansey?
- How will integration of historic and new data refine exploration targeting across NewPeak’s broader tenement holdings?