New Zealand Gold Projects - Alexander - Lyell - Paparoa
The Company has three gold prospects in the historical, highly prolific, Reefton Goldfield district.
Mineralization in the Reefton Goldfield district typically consists of high grade free milling gold in veins, often surrounded by a lower grade halo of refractory ore. Other historic information on the historic gold district can be viewed at MINERALS WEST COAST.
Gold
The Company completed the first phase geological assessment program on the Alexander River project during November/December 2009, which substantially confirmed the historic trench results. An IP Survey was completed early April 2010.
The closest major mines to the properties, both historic and operating, are the Blackwater, which produced approximately 750,000 ounces at a reported grade of 11 gpt prior to closing after a shaft collapse in 1952, the Big River, which produced approximately 105,000 ounces at a reported grade of 17 g/t, and the Globe Progress, which reportedly produced approximately 430,000 ounces from underground workings and which is the location of a newly developed, and currently operating Oceana gold mine. These three mines and another approximately twenty other smaller historic mines, are located immediately to the north-west of Alexander River. At the Lyell claim group in the north, the Lyell mine produced approximately 91,000 ounces.
Historic reports indicate that approximately 8 million ounces of placer gold have been recovered in the Reefton and district gold camps and 2 million ounces of lode gold have been recovered from the Reefton mining camp.