Your right, they have gone to sleep. Google gives this in the...

Your right, they have gone to sleep. Google gives this in the Market Hearald today.

Junior explorer New Age Exploration (NAE) has completed a research review of two key New Zealand gold projects with some encouraging results.

The company took on a review of the Marlborough and Manorburn projects in New Zealand and found that both showed anomalous gold occurrences. Together, the projects cover 720 square kilometres across the Otago region.

At Marlborough, New Age reported a series of interpreted ductile shears that have the potential to host gold mineralisation but have never been tested before. Moreover, the company said down-dip and along strike of the nearby historical Gold Bar mine are also untested.

Moving forward, NAE will focus its Marlborough exploration on these structures.

Meanwhile, the company highlighted some key target areas at the Manorburn project, which are associated with historical anomalous stream sediment and soil samples within the Otago Schist belt.

The Otago Schist is the same belt that holds the world-class Macraes gold mine owned by OceanaGold (OGC).

Both the Marlborough and Manorburn projects are under application by NAE and awaiting approval from New Zealand’s permitting agency. The company said it will kick off fieldwork at the projects once permits have been granted.

NAE Executive Director Joshua Wellisch said the Manorburn and Marlborough applications have “significantly” increased the company’s exploration footprint in New Zealand.

“Both projects have extensive historic workings which have not been analysed, and the lack of any modern exploration provides quality exploration potential,” Joshua said.

“The expansion of the New Zealand portfolio supports our optimistic view of future mining potential in the region.”

Along with its Marlborough and Manorburn applications, NAE owns a string of gold and quartz projects in Australia and New Zealand, as well as a coking coal project in the United Kingdom.

Shares in New Age Exploration were trading higher this afternoon but ended up reversing in the final hour of trade to close 7.14 per cent in the red at 1.3 cents each. The mining company has a $22 million market cap.