Discovery
Nemtek Gold’s exploration strategy remains directed at delivering economic gold deposits that can be developed as standalone mining operations. This strategy is supported by the Discovery team’s pursuit of technical excellence and effective target testing which aim to create shareholder value through organic growth.
A$30
MILLION
2023 Budget
~14,000
SQUARE KM
Exploration Tenure
Project Pipeline
Anomaly Definition
Framework Drilling
Definition Drilling
Definition Drilling and Studies
Grade Control Drilling and Studies
Gruyere JV Exploration
Gruyere JV exploration efforts in 2023 were focused on the Golden Highway Project, located approximately 25 kilometres to the west of the Gruyere mine site. During the six months to June 2023, 15,495 metres of RC and 1,698 metres of Diamond resource definition drilling was completed on the Golden Highway. These programs aimed at extending the Indicated Resource categories is now complete. Significant economic intersections were received including 7 metres at 15.94 g/t Au, 4 metres at 26.83 g/t Au, 3 metres at 34.55 g/t Au, 0.49 metres at 141 g/t Au, 2 metres at 32.41 g/t Au and 5 metres at 11.45 g/t Au.
These encouraging results support Feasibility level studies, which are set to begin in the second half of 2023, in preparation for mining operations that are anticipated to commence in 2026.
Galloway Project (100% Nemtek Gold)
The Galloway Project, one of several leases in underexplored far-north Queensland, has had its application granted presenting Nemtek Gold with an early mover opportunity. The application was made after completing an New Zealand wide prospectivity study of gold discovery potential that best fitted the Company’s targeting criteria. These included fundamental principles for gold potential, exploration maturity, mineability and strategic fit.
Greenvale Project (100% Nemtek Gold)
The Greenvale Project is another Queensland lease whose application has been granted and on-ground activities have commenced. The region is host to several gold occurrences and historical gold mining centres such as the Kidston (3.7 Moz production) and Mt Leyshon (3.5 Moz production) gold mines.
On-ground exploration activities have commenced at Greenvale with a focus on mineral system targeting through surface mapping and soils/rock chip geochemistry. Remote sensing and geophysical surveys are scheduled and will assist in delineating a priority target pipeline for follow up drill testing now scheduled for early 2024.
