Rock chip sampling at Minerals Exploration’s (ASX:MEX) Glenorchy Tungsten Project in Otago, New Zealand, has returned up to 37.4 grams per tonne gold (Au) and 2.63% tungsten (W).
The company collected 31 selective rock chip and grab samples from the historic State Mine and Davidsons Mine operations within the Invincible exploration permit. Nine of 15 samples from the State Mine returned at least 1g/t Au, and six returned at least 0.1% W.
The highest-grade sample yielded 37.4g/t Au with 0.116% W, while another sample delivered 1.82% W.
At Davidsons Mine, three of 16 samples returned at least 1% W, four returned at least 0.5% W, and nine returned at least 0.1% W. Gold assays reached up to 0.45g/t Au.
Executive Director Brett Mitchell says the results highlight Glenorchy’s exploration potential.
“The results confirm the presence of high-grade tungsten and gold at the project, and with the tungsten-rich system at the Davidsons Mine having never been drill tested in the past,” Mitchell says.
The company plans to conduct its first drilling program at Davidsons Q4 2026, subject to the grant of an exploration permit by New Zealand Petroleum and Minerals (NZPAM) and regulatory consents.
In the meantime, follow-up work will focus on geological and structural mapping, channel sampling for drill-target definition, and accurate surveying of workings. The company is also working on an exploration target for the project.
The Invincible Gold-Glenorchy Tungsten Project shares key geological features with several large gold deposits in the Otago Goldfields, including OceanaGold’s (TSX:OGC) Macraes Gold Mine located 170km to the southeast and Santana Minerals’ (ASX:SMI) 2.2-million-ounce Bendigo-Ophir deposit located 65km to the east.
Current tungsten prices sit at highs of US$3,000–3,250 ($4,246–4,600) per metric tonne unit, according to Fastmarkets Rotterdam.
Minerals Exploration is focused on pursuing its brownfields exploration strategy across its New Zealand gold assets.
Write to Paula Fabe at Mining.com.au
Images: Mining.com.au
