I believe you know the Karangahake area in NZ well, and worked it as miners.
Drilling has resumed on EP 54216 within Laneway’s NZ Gold Project testing one of several targets within the highly prospective mineralised corridor untested during the farmin period with Newcrest.
An 800m hole has been Diamond drilled, reaching its target depth of 800m before Christmas. We are awaiting the results.
Current drilling in NZ is planned for HQ3 drilling (3 = triple tube)
Thus far the 1st 96m has been drilled @ PQ.
From thereon HQ3
They are nearing 600m.
They suspect the ground will tighten up around 650m, if so, they plan on drilling the remainder @ NQ.
Core samples are shipped at every 250m (normally shipped on a Friday).
Plan to reach target depth (800m) - next Friday night - 22 Dec.
**Note the larger than normal drill holes - a larger core diameter means that the analyzes can be more accurate because of the larger core sample and the “nugget effect” is lower.
Also note:
"The Jubilee area has had less than 10 holes drilled into the area shown below with only 2 of these holes deeper than 200m and as such retains significant depth potential, particularly when compared to the Maria vein within the Karangahake Mine System which sits 7km directly along trend from Jubilee."
"Several historical reports also state quartz veining was up to 32 feet wide in the lower levels 200m below surface."
End quote
The location of the 800m hole is as follows:
I would dearly appreciate any local knowledge and expert comments you wish to make.
Best regards,
LNY Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
