NZ Gold Project
The Company owns 100% of the New Zealand Gold Project which comprises of an Exploration Permit Owharoa EP54216 covering an area of 58km2 within the highly prospective Hauraki Goldfield. The project is located 110km south west of Auckland, near the township of Waihi on New Zealand’s north island. The Hauraki Goldfield has produced over 65Moz of Au-Ag bullion from over 50 epithermal style deposits.
The project is located within the mineralised corridor that is host to the historic Karangahake and Golden Cross gold-silver mines, and in the same district as Oceana Golds operating Waihi Mine and New Talisman's Karangahake Project. Laneway is actively exploring these tenements with over $NZD6 million spent on-ground over the past 5 years. The Permits are accessible via sealed roads, private tracks, public dirt roads and forestry tracks which give good access throughout the permit. Laneway are proceeding with exploration targeting a series of previously mined zones of mineralisation at the Jubilee prospect with a geophysical survey planned for late 2019 and a subsequent drilling plan to follow.
Karangahake – Jubilee – Golden Cross Trend
Historic mining occurred in the Project area between 1860 and 1952, with workings reaching a depth of up to 140m from surface. There remains significant scope for down dip and strike extensions of this mineralisation along a >10 km long prospective corridor. The Karangahake-Jubilee-Golden Cross Mineralised Trend historically produced 4.4 Moz Au-Ag bullion. Mineralisation occurs as discrete low sulphidation high-grade epithermal veins, primarily of banded quartz/chalcedony within rhyolites and andesites. The Karangahake orebody is shown to have vertical continuity of 700m and Jubilee is a possible strike extent of the Karangahake system but was only mined to 200m and never tested at depth. Karangahake historically averaged 23g/t Au from high grade shoots in two westerly dipping veins with up to a 900m strike extent and 700m vertically.
The Jubilee area has had less than 10 holes drilled into the area 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. Laneway has drill ready locations at the Jubilee Prospect which target both along strike and down dip extensions of known mineralisation at the Jubilee workings.