· Access Arrangements granted at Alexander River and Big River projects
· Advanced brownfield gold projects, 100%-owned
· Drilling aims to explore shallow, high-grade, walk-up targets identified in existing trenches and diamond drillholes
· Opportunity to apply modern exploration techniques to under-explored region
Condamine Resources Limited (Condamine, the Company) today announced that the Department of Conservation has granted Access Arrangements to undertake exploration drilling at the Company’s 100%-owned Alexander River (EP 60446) and Big River (EP 60448) projects in Reefton, New Zealand.
Condamine is a gold exploration company, established in May 2017 to acquire and advance a portfolio of highly prospective gold projects in New Zealand.
The Company’s brownfield gold projects are strategically located within the 2.5Moz Reefton goldfield in the center of the West Coast of the South Island and are held within the Company’s 100%-owned subsidiary, Reefton Resources Limited (NZ).
Condamine Resources’ Interim Executive Director, Ms Anna Nahajski-Staples, said with access now granted, the Company has the green light to commence drilling mid-year, upon receipt of further funding.
“The exploration plan is to focus on shallow diamond drilling at both Big River and Alexander River, targeting high-grade gold mineralisation intersected in existing trenches and drillholes” said Ms Nahajski-Staples.
“The granting of the Access Arrangements represents not only an important milestone, but also the start of a new momentum building for the Company – which is already attracting interest from new investors and potential corporate partners looking for the next Bellevue Gold,” she said.
At the Company’s Alexander River project, historical mine production was 41koz