close
MENU
Hot Topic NBR Focus: GMO
Hot Topic NBR Focus: GMO
1 mins to read

Auzex says it's planning Lyell gold sampling near Westport

Australasian mineral explorer Auzex Resources Ltd says it is now planning its approved six hole drilling programme on the old Lyell goldfield on the West Coast.Over the past couple of years Auzex has given up all but two permits near Westport and has paid

NZPA
Wed, 27 Oct 2010

Australasian mineral explorer Auzex Resources Ltd says it is now planning its approved six hole drilling programme on the old Lyell goldfield on the West Coast.

Over the past couple of years Auzex has given up all but two permits near Westport and has paid increasing attention to the near term gold mine development at Bullabulling near Coolgardie in Western Australia.

The company's annual report - released on the ASX - showed that the company's level of equity in the Lyell project had increased to 58 percent, apparently by taking shares that were available to its partner, New Zealand Minerals Ltd.

The report said the planned drilling would take place on the Lyell gold soil anomaly near Westport which has been traced over a length of 3km and a width of 200m. Gold-bearing quartz lodes have historically been worked over a stike length of 5km, and the most profitable was the Alpine United mine, with a record production of 96,500 ounces of gold at an average grade of 16 grams/tonne.

No modern exploration has been conducted, but Auzex has gained approval for the six drill holes from the Department of Conservation, and planning is now underway for this drilling.

The two leases were recently renewed by Crown Minerals for another five years over the northern extension of the mesothermal Reefton goldfield that historically produced 2.1 million ounces.

OceanaGold Corporation is operating the Globe-Progress open cut mine over historic underground workings and Auzex said in its report that Lyell could contain the same style of "disseminated gold mineralisation" associated with quartz veins.

NZPA
Wed, 27 Oct 2010
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Auzex says it's planning Lyell gold sampling near Westport
9787
false