New Zealand
The New Zealand project is located on the west coast of the South Island, situated between the townships of Nelson in the north and Ross in the south. Much of the project area covers the northern extension of the Reefton Goldfield which has historically produced 2.1 Moz gold, with new discoveries awaiting development. Auzex has previously confirmed the potential of the region to host granite related mineralisation. The aim of the initial program is to scope the potential for either granite related mineralisation or Reefton style gold mineralisation. Current work program is focused on the Lyell gold prospect.
Lyell Overview
The Lyell project area is located just north of the Company's Buller tenement on the west coast of the South Island of New Zealand. Gold bearing quartz lodes have been worked at Lyell over a strike length of 5km. The most profitable and greatest producer of the mines in the Lyell Goldfield was the Alpine gold mine which operated until the early 1900's producing 96,500 ounces at an average grade of 16 g/t gold. Despite the extent of the old workings, no modern exploration has been conducted at the project.
Exploration in New Zealand is subject to a Joint Venture with local company New Zealand Minerals Ltd (NZML) which currently holds approximately 42% interest in all Auzex NZ properties. Auzex NZ manages the Joint Venture and all exploration activities.
